Save for your child's education

A Registered Education Savings Plan (RESP) is a registered government program designed to encourage saving for a child's post-secondary education.

Savings grow

Don't pay tax on the interest made on your investment until the money is used for post-secondary education

Flexible options

  • There's no minimum contribution amount
  • Use the savings for your child's full or part-time studies
  • Multiple investment products such as term deposits and mutual funds are available

Anyone can contribute

  • You can open an account as long as you’re over 18 and you have a social insurance number
  • Depending on the RESP, other family members and friends can contribute too

Get started

Boost your education savings with these government
grants and bonds!

Canada Education Savings Grant (CESG) Expand/Collapse

The CESG provides grants to all RESP contributors, regardless of income, until the beneficiary reaches the age of 17. The CESG provides 20% on the first $2,500 in annual contributions up to a maximum of $500 per year per beneficiary. Learn more>

Canada Learning Bond (CLB) Expand/Collapse

The CLB program provides families that receive the National Child Benefit Supplement a $500 bond to an RESP. Families will also receive a $100 bond instalment until age 15 for each year their family is entitled to the supplement. The great thing about the Learning Bond is that families do not have to put any money in an RESP to receive the bond; you just have to have a certain net income.
Learn more>

Applying for the Bond has never been easier!

The Northern Promise team can support you with each step in the application process, answering your questions, helping you gather necessary documents, and connecting you with the right institutions to get the process going.

Learn more >

B.C. Training and Education Savings Grant (BCTESG) Expand/Collapse

The BCTESG is a one time $1,200 provincial incentive available to children born in 2006 or later. You do not need to contribute to an RESP to receive the grant; however, there are application deadlines you need to meet in order to receive the grant. Learn more>
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