An RESP is an education savings account that is registered with the Government of Canada.
With an RESP, you may be able to receive other saving incentives, such as the:
Eligibility InformationApplicants must meet the following criteria:
- have a Social Insurance Number (SIN)
- have a SIN for anyone named in the RESP as a beneficiary
- Visit the CanLearn website to get more details on RESP.
- Information on the RESP application procedure is also available through financial institutions, such as a bank or credit union, or through a certified financial planner or a group plan dealer. These institutions, planners and dealers are known as "RESP providers."
- For each beneficiary, the lifetime limit is $50,000.