The RESP

Did you know that in 2025, completing a bachelor’s degree will cost over $70,000? The Registered Education Savings Plan (RESP) is a program specially designed to finance your kids’ post-secondary education. You invest the amount of money you want in a study fund that makes profits. This program is very interesting since the government also invests about 20 to 40 per cent of your contributions. Also, a few financial services companies offer scholarships to increase the value of your investment. The money invested in a RESP is tax-free until you withdraw it to pay for your kids’ education. The RESP is definitely a priceless gift!

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