Invest in your child’s future

A post-secondary education can be expensive. To manage these costs successfully, you need an effective, flexible savings plan. An effective way to save for your child’s post-secondary education is with a CIBC Registered Education Savings Plan (RESP).

How much can I invest?

The lifetime RESP contribution limit is $50,000 per child and contributions can be made until the child turns 31. There is no annual maximum contribution limit.

The Canada Education Savings Grant (CESG) from the federal government may add to your RESP contribution, up to $500 per year, per child. If there is unused grant room from previous years, the CESG could be up to $1000 per year, per child through additional contributions. The CESG is payable until the end of the calendar year a child turns 17, and the maximum lifetime CESG payment is $7,200.