Now that school is back in session, here’s a quick reminder of how the Registered Education Savings Plan works:
- It is a tax-sheltered account to save money for a child’s education
- Parents, grandparents, guardians, family members and friends can open an RESP
- It provides grants (CESG) and various other incentives
- Individual and family plans are available
- Contributions are not tax deductible
Don’t forget that you can read more about the RESP on our website here.