Get up to $7,200 in free grants for your child’s education.
A Registered Education Savings Plan turns your savings into more — the government adds 20¢ for every dollar you save. We help our clients set one up — free.
What the government gives you.
Three numbers explain almost the whole account:
20% free grant
The government adds $1 for every $5 you save — up to $500 a year per child.
$7,200 max per child
Total free grant money one child can receive over the years.
$50,000 lifetime
The most you can contribute per child, ever. There is no yearly contribution limit.
Simple: you save, the government tops up.
Open an RESP
For your child or grandchild — or for yourself, if you’re going back to school.
Contribute when you can
Monthly, yearly, or lump sums — there’s no annual contribution limit.
Get the 20% grant
The government deposits the grant into the account automatically.
What you get out of it
- Free money you can’t get anywhere else. The 20% grant is a guaranteed return no bank account can match.
- Tax-free growth. Your money grows untouched by tax until it’s withdrawn.
- Your child pays the tax, not you. Education withdrawals are taxed in the student’s hands — usually close to zero.
- Extra help for lower-income families. The Canada Learning Bond adds up to $2,000 per child — no contributions required.
What if my child doesn’t go to school?
Your own contributions come back to you, tax-free. The grant money goes back to the government — but you can move the account to another child, or transfer the growth into your RRSP (up to $50,000).
We help our clients set this up — free.
Investment accounts are a complimentary extra for SecureMyFamily clients. Book a free consultation and we’ll walk you through it — no spam, no pressure, no data selling.