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Registered Education Savings Plan (RESP)



Taking advantage of grants and bonds

The Canadian Education Savings Grant (CESG) is a federal government program that can top up your annual RESP contributions by 20%.

Other incentives available for qualified families include the Canada Learning Bond (CLB), British Columbia Training and Education Savings Grant (BCTESG), and Quebec Education Savings Incentive (QESI).

BMO Target Education Portfolios

These portfolios are designed to meet the needs of people saving for their child’s education.

Just match your child’s year of birth to the portfolio date closest to when they plan to attend school - we look after the rest!

BMO Mutual Funds

Choose from a wide range of professionally managed, diversified BMO Mutual Funds for an RESP – the funds you need to reach your goals.

Guaranteed Investment Certificates (GICs)

GIC’s offer the combined benefit of principal protection and growth. The return of your original investment is guaranteed, and you’ll receive a guaranteed rate of return.

Other financing options that can lend a helping hand

  • Students can help pay for their own education with a BMO Bank of Montreal Student Line of Credit.
  • With a Homeowner’s Line of Credit, you can use the equity in your home to help with education expenses – scholarships, grants and bursaries can be a big bonus.
  • As well, the federal and provincial governments will lend your child money to go to school.

Top questions about RESPs

Want to learn more about RESPs

What’s an RESP beneficiary and subscriber?

The beneficiary is the person who the RESP is set up for, and the subscriber is the person who first establishes the RESP and makes contributions to it.

What’s the age limit of an RESP beneficiary for adding contributions to their plan?

On a family plan, contributions can be made until the beneficiary turns 31. On an individual plan, contributions can be made up to the end of the 31st year of the plan’s existence, regardless of the beneficiary’s age.

Does the beneficiary have to be my child?

The beneficiary may be anyone in an Individual Plan and doesn’t have to be related at all to the subscriber. A subscriber could also be the beneficiary of their own plan.
Three elementary school students stand shoulder to shoulder, grinning in front of a chalkboard.Three elementary school students stand shoulder to shoulder, grinning in front of a chalkboard.

The golden rules of investing

Thinking about investing? These common-sense rules are a great place to start.
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Education calculator

How much should I be saving for my child’s education ?

Ready to get started?

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