Increasing Your RESP Contributions
Even if you can only free up a little bit for RESP contributions right now, it makes sense to get started as soon as possible:
- The earlier you start, the more time your contributions will have to grow
- Starting early means you won't have to contribute as much to reach your education savings goal
- You can always increase your contributions if your financial situation changes
Do what's best for you
We encourage Heritage Subscribers to only contribute what they can comfortably afford.
If you do want to increase your contributions later on, you can add additional units at any time, provided that you can afford increased contributions and the child is still under 15 years of age. The federal government RESP lifetime contribution limit is a maximum of $50,000 per Beneficiary.
Maximize the contributions – and the benefits
With the power of compound interest, maximizing your savings could maximize the Educational Assistance Payments (EAPs) available to your child.
Remember too, your Heritage RESP Representative is always available to help you decide what's best for you – and your child.