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Education Savings

Education is the key to your children's future. But it's costly - currently as much as $60,000* for a four year degree at a Canadian university.

A Registered Education Savings Plan (RESP) is a smart way to maximize education savings. Tax-sheltered investment growth and eligibility for government grants can make a big contribution to your child's future.

By 2021 that degree is likely to cost over $100,000**.

Provide for your children's education and keep on top of rising costs with a BMO Bank of Montreal Registered Education Savings Plan (RESP) or other investment options.

Calculate education costs and savings needs with our Education Savings Calculator.

Individual and Family Plans

You can open an RESP for an individual child, or opt for a flexible family plan that lets you save for all your children.

An individual plan is set up for one person, who does not have to be related to you. There are no age limits, so you can even set up an RESP for yourself or another adult.

With a family plan you can name one or more children as beneficiaries. The children must be related to you. You can add or change beneficiaries at any time.

Get more information on individual and family plans.


*, ** Figures are provided by BMO Bank of Montreal Economics Department in conjunction with the Association of Universities and Colleges of Canada (AUCC). Figures are based on a national average for a four-year university degree for a student using accommodations away from home and include the costs of tuition, books, room and meals. Figures are provided for illustrative purposes only and are not intended to represent the actual current and/or future costs of education and should not be relied on for this purpose.
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