Education Planning

Investing in tomorrow’s future today.

It is never too early to begin saving for the future education of a child or grandchild.  What is important to know is that there are options made available to investors to encourage such promising investments for the future. 

Registered Education Savings Plans (RESP) are flexible investment plans designed to allow parents, grandparents, relatives and friends the opportunity to save for a young person’s future post-secondary education.  Like an RRSP (link), an RESP allows investments to grow tax-free until the time the funds are needed. 

The Federal Government of Canada supports education planning through Canada Education Savings Grants (CESG).  Through this program, the government will provide up to a maximum of $500 annually to match contributions from the donor (dependent on family income).  The lifetime CESG limit for a child is $7,200, while total lifetime donor contributions per child are limited to $50,000.

For more information about education planning and ways in which to take advantage of available program incentives, contact your Hall Group Advisor.