Registered Education Savings Plan

"Education is not only a ladder of opportunity, but it is also an investment in our future."

Ed Markley

 

Registered Education Savings Plans (RESPs)

A registered education savings plan (RESP) is a contract between an individual (the subscriber) and a person or organization (the promoter).

Under the contract, the subscriber names one or more beneficiaries (the future student(s)) and agrees to make contributions for them, and the promoter agrees to pay educational assistance payments (EAPs) to the beneficiaries.

There are two different types of RESP available: family plans and specified plans.

For more information, please contact me.

Source: Canada Revenue Agency

Mackenzie Investments' RESP Guide

Download this guide to learn more about how to invest in your child's future with a Registered Education Savings Plan.

Education Savings Goal Calculator

Click here to see a calculator that helps you determine the amount of money you need to save for your children's education.