An RESP is a fantastic tool for saving for a child’s education. The government provides grants and incentives, such as the
Canada Education Savings Grant (CESG), which boost savings. Over time, the combination of contributions, government
grants, and investment growth can result in a significant education fund. For instance, a family opens an RESP for their
child’s education when the child is born. The contributions, government grants, and investment growth can lead to a
substantial education fund, reducing the financial burden of higher education.