The government gives you 20% on the first $2,500 you save each year — up to $500/year and $7,200 lifetime per child, for free.
Canada Education Savings Grant: 20% on the first $2,500 contributed annually. Max $500/year, $7,200 lifetime per child.
Investments grow tax-free inside the RESP. Withdrawals are taxed in the student’s hands — usually at little or no tax.
A family RESP covers multiple children — unused grants and growth can be shared between siblings.