Save for my child's education

It's never too early to start saving for your child's education

Hints and tips

  • Open a Registered Education Savings Plan (RESP) through CWB. We provide a variety of investment options including Guaranteed Investment Certificates and mutual fund solutions* 
  • The money you contribute and invest grows tax-deferred within an RESP.
  • Depending on how much you contribute to an RESP, the Federal Government’s Canada Education Savings Grant can provide up to an extra $500 a year to a maximum of $7,200/child. Additional provincial grants may be available.
  • You can contribute $50,000 over your child’s lifetime towards an RESP, and there are no taxes payable on the money earned inside of the RESP until it's withdrawn. 

 

*Mutual funds are available through Canadian Western Financial, please speak with your CWB Account Manager to learn more. 

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