08/20/2026
Give Your Child a Head Start on Education 🎓💰
If you’re a young parent, there’s one financial conversation you should have sooner rather than later: the RESP.
An RESP isn’t simply a savings account for your child’s education. It’s a way to put your own money to work while potentially receiving additional money from the government.
Here are a few facts every parent should know:
💰 The federal government can add 20% on eligible RESP contributions through the Canada Education Savings Grant (CESG), up to $500 per year, with additional grant amounts available depending on family income.
🍁 There is also a Quebec Education Savings Incentive (QESI). The basic incentive is 10% of eligible net contributions, up to $250 per year, and accumulated unused rights can increase the amount to as much as $500 per year. Families with lower or middle incomes may also qualify for an additional amount of up to $50.
🎯 The lifetime maximum for the QESI is $3,600 per beneficiary, while the RESP itself has a $50,000 lifetime contribution limit.
📚 And the money isn’t limited to a traditional university degree. RESP education assistance can support eligible post-secondary education, including CEGEP, college, university, trade schools and apprenticeships.
⏳ One of the biggest advantages is time. Starting early gives your contributions, government incentives and investment growth more time to build.
And here’s the part many parents overlook:
You don’t have to wait until you can afford a large contribution. Even starting with a manageable monthly amount can put your child on a completely different financial path.
Your child may not appreciate it today.
But years from now, when tuition bills arrive, they might be very glad you started when they were little. 🎓
The best time to start planning for your child’s education is before the education bill arrives.
