*GRANTS and INCOME: Paid to the beneficiary (student) to cover post-secondary expenses. These are called educational assistance payments (EAPs).
Total CONTRIBUTIONS: your net Contributions are returned to the subscriber(s) (individual(s) who opened the RESP) at the RESP's maturity. Often, the subscriber chooses to give this money to the beneficiary to help cover post-secondary costs.
This RESP calculator is for general information only. It does not take into account any additional grants offered based on adjusted family net income. This illustration is based on the Self-Initiated Option Plan which is an individual plan and takes into account the following fees as they apply to that RESP: sales charge, depository fee and administration fee. Please note that fees vary among our RESPs. Your dealing representative will discuss fees with you in detail as part of the plan presentation and you can also refer to our prospectus. Your child could be entitled to different amounts than those projected. These projections are for your information only. These projections are not guarantees of future investment returns. The information presented and projected is hypothetical and only for information purposes.
You can set up an RESP for only $9.90/month.
The calculation tool generates projections for information only and is designed to illustrate the general overall benefits of an RESP. This tool does not specifically apply to group RESPs and is based on our Self-Initiated Option Plan which is an individual plan. The projection assumes that you make monthly contributions at a your selected amount until the year your child reaches 18 years of age. Fees vary depending on the RESP that you select. The projected growth of grants and savings defaults to a 4.5% rate of return assumption but you can select a higher or lower rate of return assumption. As they are rate of return assumptions, these projections cannot be considered a guarantee of future performance, nor interpreted as a commitment on our part.
The RESP calculator takes into account the basic 20% Canada education savings grant (CESG) and in some provinces where they are offered, the basic provincial grants, only offered to residents in certain provinces. The lifetime CESG limit per beneficiary is $7,200.
Certain restrictions apply: The annual CESG limit is $500 and the lifetime RESP contribution limit is $50,000 per child. If your adjusted family net income is modest, your beneficiary could be eligible for the additional CESG.
Your child could also receive the Canada Learning Bond, offering a lifetime amount of up to $2,000 for children born on or after January 1, 2004. Certain conditions apply. Please learn more about the Canada Learning Bond here. You can also refer to our prospectus.
We offer three different RESPs and different contribution options. A minimum subscription amount is usually required. For further details, contact us or refer to our prospectus.
Protection of principal, for disciplined and committed savers.
Set your own Plan Contribution Target! Enrol at any age.
For those who are seeking a flexible, individual RESP option.