RESP (Registered Education Saving Program)
RESP (Registered Education Saving Program)
RESP Canada is a unique savings program safeguards your children’s primary or secondary education. RESP tax deduction ensures that your child attends the school he deserves, despite any difficulties you may have at work or in your business.
Borrowing to contribute to your RESP calculator allows you to take full advantage of the government RESP maximum contribution and save more for your child’s postsecondary education.
WHY IS RESP IMPORTANT
You contribute as much as possible to receive all the grants you are entitled to with the RESP government contribution. By investing additional funds from the RESP grant and contributions obtained from the RESP withdrawal rules for your child, you gain access to a higher yield.
You don’t need to change your budget if you increase your RESP contribution limit.
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