EVER HEARD OF CESG ?


Canada Education Savings Grant (CESG)


The basic CESG provides 20 cents on every dollar you contribute, up to a maximum of $500 on an annual contribution of $2,500. If you cannot make a contribution in any given year, you may be able to catch up in future years.

​This grant is available up until the end of the calendar year in which the child turns 17.

Depending on the child's primary caregiver's net family income, he or she may also be eligible to receive the Additional Canada Education Savings Grant (A-CESG). This grant adds an additional 10 % or 20 % to the first $500 put into the RESP each year. READ MORE



EVER HEARD OF CLB?

Canada Learning Bond (CLB)

The Canada Learning Bond (CLB) is money that the Government of Canada deposits directly into a child's Registered Education Savings Plan (RESP) account to help parents get a head start on saving for their child's education after high school. READ MORE


DID YOU KNOW?


You can usually put money in whenever you want, up to a lifetime maximum of $50,000 per child. 


Maximum grant paid by Government of Canada is $7,200.

Why choose an RESP with us?


We offer three advantageous education savings products:


My Education+

  • You contribute the amount you want when you want and have access to advantageous investment options to help you save more.


  •  Offers flexibility for your contributions as well as advantageous investment options to help you save more.


Based on your investor profile and financial goals, you can invest in a selection of advantageous investment options.


INVESTMENT OPTIONS:

  • Segregated funds
  • High interest account with 100% capital guarantee

Type(s) of plan available


Individual: Anyone can be a Plan Subscriber  no blood or adoptive relation to the child is required.


Family: Possibility to name more than one child under the plan. Subscriber must be related to the

child either by blood or adoption.


My Education

  • You contribute the amount you want when you want and can select from a wide range of investment funds.
  • Gives you access to a wide range of investment funds (segregated funds and guaranteed interest funds).


INVESTMENT OPTIONS:

  • Segregated funds
  • High interest account with 100% capital guarantee
  • Daily interest funds


Type(s) of plan available

Individual: Anyone can be a Plan Subscriber  no blood or adoptive relation to the child is required.

Family: Possibility to name more than one child under the plan. Subscriber must be related to the
child either by blood or adoption.


Diploma

  • You receive an education bonus of up to 15% of your total contributions once your commitment has been fulfilled.


Type(s) of plan available


Anyone can be a Plan Subscriber - no blood or adoptive relation to the child is required.


INVESTMENT OPTIONS:  

The allocation of your investments relies on a combination of two Diploma funds


Diploma Elementary Fund​

Diploma Secondary Fund


The allocation is established according to the child’s age.



   PREPARED FOR SUCCESS

Justice Abebe

Financial Advisor

WHAT ARE THE BENEFIT OF RESP'S?


The main benefit of the RESP is the ability to have all earnings (capital gains, dividends and interest) on the investments inside the RESP accumulate tax-free until withdrawn. When the funds are paid out, they are included in the student’s income but presumably the child will be in a low- or zero-tax bracket, on account of the various tax credits available to them (including, most commonly, the basic personal amount and tuition, education and textbook amounts) that little, if any, tax will ever be paid on the earnings when withdrawn. READ MORE



Contact   +1.613-914-0578

How the Canada Education Savings Grant works

To receive the Canada Education Savings Grant (CESG), a Registered Education Savings Plan (RESP) must have been opened for the child. (Anyone can put money into an RESP for any child; you do not have to be the child's parent.)

The basic CESG provides 20 cents on every dollar you contribute, up to a maximum of $500 on an annual contribution of $2,500. If you cannot make a contribution in any given year, you may be able to catch up in future years. See Carry Forward Room.

This grant is available up until the end of the calendar year in which the child turns 17.

Depending on the child's primary caregiver's net family income, he or she may also be eligible to receive the Additional Canada Education Savings Grant (A-CESG). This grant adds an additional 10 % or 20 % to the first $500 put into the RESP each year.

What is a RESP account?

A Registered Education Savings Plan, or RESP, is an investment vehicle used by parents to save for their children's post-secondary education in Canada. The principal advantages of RESPs are the access to the Canada Education Savings Grant (CESG) and a source of tax-deferred income. READ MORE


How does RESP's work?

When your child enrols in post-secondary education, they can start taking payments, called educational assistance payments (EAPs) from their RESP. EAPs are made up of the investment earnings and government grant money in the RESP. The person who is named to receive EAPs under the plan is called the beneficiary. READ MORE




RESP Loans

Borrowing to maximize your registered education savings plan (RESP) contributions allows you to save the funds required to pay for your child’s education and to take full advantage of government grant programs.


Why RESP loan?

  • ​Increase your contributions without having to modify your budget.
  • Maximize  government grants Canada Savings Grant contribution.
  • You can carry forward any used grant amounts
  • Your child is 12 years of age or older and is about to start high school.


The advantages of taking out an RESP loan with us?

  • You can pay off your loan at any time
  • Competitive interest rates
  • Loan approval without a credit check


​RESP loan interest rate:
PRIME RATE + 0.75%