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How much do I need to invest to receive maximum benefits?

OUR ANSWER

The magic number to attract the maximum grant amount is $2,500 in contributions per year1. You can choose to make a single contribution or several monthly contributions over the year.

Grant entitlements start from birth, so if you didn’t contribute during your child’s early years or your contributions were lower than $2,500 per year, you can recover unused entitlements from previous years. In this case, you can contribute up to $5,000 per year1.

If you’re almost at the finish line but don’t have enough savings for school, our RESP Loan is a great solution! If you qualify, the RESP Loan could help you catch up on unused grant amounts from past years.1

How does it work? It’s very simple!

You apply for the RESP Loan granted by our industry-leading partner. With this extra money, you can make additional contributions to your RESP and attract more grant money. At plan maturity, the loan is automatically refunded.

If you plan to maximize your RESP grants, remember that the lifetime limit for the Canada Education Savings Grant (CESG) is set at $7,200 per beneficiary, and $3,600 for the Quebec Education Savings Incentive (QESI) offered in the province of Quebec.2

SEE ALSO

Legal Notes

1. Certain conditions apply. See our prospectus.

2. Maximum annual CESG limit is $600, and maximum annual QESI limit is $300. Certain conditions apply. See our prospectus.