If you have children, and you’re already starting to save for their
college or university education, you likely have a RESP – Registered
Education Savings Plan. It’s a savings plan that allows the beneficiary
to receive the funds to pay for education when they attend post
secondary, but you probably already knew that.

There are limits to RESP’s, though. Limits like total amount of
contribution, and age of the beneficiary at the time of contribution,
and also yearly limits. If you aren’t sure what these limits are, perhaps
it’s a good idea to get in touch with a Tax Accountant, as they are
qualified to counsel you on tax laws, and can help you assess your
unique situation.

For more information on registered education savings plans, and other
programs that the government of Canada offers for education saving,
visit the service Canada website at: http://www.servicecanada.gc.ca/
eng/goc/resp.shtml or contact us.