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In the interest of the health and well-being of the communities we serve, our branch offices are not meeting in person with new and existing clients at this time. We will continue to serve you through several virtual options. Learn more.

Registered Education Savings Plan


A Registered Education Savings Plan (RESP) is a tax-deferred savings account designed for Canadians to save for qualified post-secondary education expenses for eligible students.

RESPs have the following features:

  • Contributions – A lifetime maximum of $50,000. The contributions are not tax-deductible and can only contribute to a family plan prior to the beneficiary turning 31. For an individual RESP, a client can contribute for up to 31 years after the plan is entered into.
  • Government assistance – The federal government offers the Canada Education Saving Grant of 20% (up to $500) on the first $2,500 invested in a RESP per beneficiary each year. The lifetime maximum is $7,200 per beneficiary.
  • Transfer – Up to $50,000 of eligible RESP income can be transferred to an RRSP or a spousal RRSP.

We can help

At Edward Jones, we can help you achieve your financial goals. Contact your local Edward Jones advisor to talk about a financial strategy that makes sense for you.

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