At Career Trek, participants get an idea of what it is like to attend post-secondary.
Career Trek’s Education Savings Coordinator also connects families to education savings resources. These resources help families save and pay for their child’s education after high school.
Learn more about:
Registered Education Savings Plans (RESPs)
What is an RESP?
One way you can start to save for your child’s education after high school is through an RESP. With an RESP, you put money aside specifically for your child’s post-secondary education. Money can be added by you, family members, or friends. The Government of Canada matches a percentage of contributions, so you can save even more.
Why open an RESP?
RESPs are versatile - you can use the money for university, college, trade school, and more. RESPs can help pay for tuition, textbooks, living expenses, and other costs. You can use an RESP for full-time or part-time studies. Even if your child doesn't go to post-secondary right after high school, they can use their RESP. Plans can stay open for up to 36 years.
RESPs are flexible and your child has many options for how to use the money to help them succeed!
How to open an RESP?
You can open an RESP at most financial institutions (such as banks or credit unions). Many have options to open RESPs with no fees, and no need for families to contribute money right away. Both you and your child need a Social Insurance Number (SIN) for you to open an RESP.
Career Trek partners with the Canadian Scholarship Trust (CST) Foundation. Together, we connect community members with education savings resources and support. We can help you find the tools to save for your child’s post-secondary education.
SmartSAVER is an online resource with information on RESPs and government grants. You can also start an application for an RESP online.
Did you know you can get up to $2,000 of FREE money for your child’s future education?
Did you know you may be able to get up to $2,000 from the Government of Canada for your child’s future education?
Through the Canada Learning Bond (CLB), the Government of Canada helps you save for your child's post-secondary education. The CLB offers $500, plus $100 every year until your child turns 15 - up to $2,000 total.
Is your child eligible to get the Canada Learning Bond?
The answer is YES if:
- Your child was born on or after January 1, 2004,
- Your child is a Canadian resident,
- AND you qualify based on net family income.
If a child is in care of a public agency, they automatically qualify.
How do I apply for the Canada Learning Bond for my child?
To get the Canada Learning Bond, you have to open an RESP account for your child with a licensed RESP provider. Career Trek can help you decide which option is best for you.
More CLB Information
The Canada Learning Bond can only be used for post-secondary education. If your child does not attend post-secondary, the CLB goes back to the Government. Accounts can stay open for up to 36 years, so your child has time to decide on an educational path.
If your child doesn’t qualify for the CLB, you can still get money from the Government for your child’s education. The Canada Education Savings Grant is another tool to maximize your education savings.
Canada Education Savings Grant
The Canada Education Savings Grant (CESG) is money that the Government of Canada deposits into an RESP if you contribute to the account.
The CESG has two parts: