2. Choosing an RESP

A Registered Education Savings Plan (RESP) is a special savings account for education.

Your child needs a Registered Education Savings Plan (RESP) to receive government education grants. Starting an RESP is easy and free.



To start an RESP you and your child must each have a Social Insurance Number. A Social Insurance Number is a special number assigned only to you that you need to work in Canada or to receive benefits from the Government. Find out more from the Government of Canada's Sheet on Social Insurance Numbers.

Read more: How to Get a Social Insurance Number

Choosing an RESP

Making the right choice when you start your RESP can help save you grief and money later.

Learn about RESPs and the different types of plans here

Read more: Choosing an RESP

No-cost RESPs on SmartSAVER.org

SmartSAVER only works with RESP providers who provide the most flexible kind of plan: an individual RESP with no account set-up, enrolment or annual fee and no minimum contribution requirement.

Read more: No-cost RESPs on SmartSAVER.org

If you are considering a group RESP or scholarship plan find out more here from the Ombudsman for Banking Services and Investments.

Read more: Understanding Group Plans (with Summary Plans)