The best way to save for your children’s education is to open a Registered Education
Savings Plan (RESP).
An RESP is a special account that can help you save money for your child’s post-secondary education. As a “registered” account (registered with the Canada Revenue Agency), money that you contribute to the plan gets to grow tax-deferred.
As an incentive to help you save for your children’s education, the government offers the Canada Education Savings Grant (CESG) – a grant of 20% on the first $2,500 contributed to an RESP each year for a total of $500.
At WTC, our licensed financial advisor can help you complete the applications to open this account.
