This website uses cookies to establish a secure connection and personalize your experience. By continuing you consent to the use of cookies. For more information and instructions on how to opt out of cookies, visit the Website Privacy Policy. If you choose to opt out this message will continue to appear.

Website Privacy Policy
  1. Home
  2. Investing
  3. Goals
  4. Save for my childs education

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your child’s lifetime towards an RESP, and there are no taxes payable on the money earned inside of the RESP until it's withdrawn.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. 

MFDA logo