Discover your Entitlement to the RESP Grants Available to You

Canada Education Savings Grant (CESG)

The CESG equals 20% of the first $2,500 of your annual contributions. If your child is eligible for the CESG, you will receive a maximum of $500 to $600 annually until your child reaches the age of 17, to a lifetime amount of $7,200.Learn more about the CESG here.

Canada Learning Bond (CLB)

If your child is eligible for the Canada Leaning Bond (CLB), you will receive a one-time initial contribution of $500 to your child's RESP with an additional National Child Benefit (NCB) Supplement of $100 for each year of eligibility until age 15.Learn more about the CESG here.

Alberta Centennial Education Savings Plan (ACES)

If you are a resident of Alberta and your child was born in 2005 or later, you will receive a one-time initial contribution of $500 to your child's RESP. Subsequent grants of $100 for children attending school in Alberta at ages 8, 11 and 14Learn more about the ACES here.

Quebec Education Savings Incentive (QESI)

If your child is a resident of Quebec, they may be eligible for QESI which equals 10% of the first $2,500 of net annual contributions. Learn more about QESI here.

Contact us today to speak with a RESP expert and learn more about the CESG, QESI, ACES, and CLB.

RESP Tax Benefits Include Paying Less Tax and Earning More Cash

Heritage Education Funds RESPs are designed specifically to help you save on taxes. Unlike an RRSP, your RESP contributions are not tax deductible. This means the earnings your investments make within the RESP is sheltered from tax. Your RESP also offers a tax shelter from interest earnings and from RESP government grants.

Once your child is ready to use his/her RESP for post-secondary education, the funds are taxable under the student's name. Because students commonly have high exemption status and low income, the taxes they pay are low if any at all.

Enjoy Tax Free Savings with a Heritage RESP

The benefits of RESP tax free savings are evident when compared to other methods of savings. See the chart below and discover how much greater your savings can be with a Heritage RESP.

Increase Your RESP Contributions for a Greater RESP Return on Education Savings

Increasing your RESP contributions early can maximize your benefits RESP tax benefits in the long run and provide you with a higher RESP return, even if your increase is very minimal. Increasing your contributions early is key since it allows more time for your contributions to grow. Increased RESP contributions will also help you reach your education savings goal much quicker.

If your financial situation does not allow you to comfortably increase your contributions, you have up until your child's 15th birthday to add additional units to your child's RESP.

Capitalize on the RESP Contributions and Maximize the RESP Benefits

Increasing your RESP contributions could maximize potential RESP return payouts due to compound interest. If you are currently saving for your child's education savings through RESPs, right now is the best time to consider increasing your RESP contributions. A Heritage RESP Representative is only a local phone call away to help you decide the best RESP contribution plan for you.