Fund Your Child’s Future with an RESP Loan
Maximize government grants, accelerate education savings, and give your child the gift of a bright future.
What is an RESP Loan?
A Registered Education Savings Plan (RESP) Loan allows parents, guardians, or family members to contribute more to a child’s education fund than they could on their own. Borrow strategically to unlock government incentives and build a fund for tuition, books, and living expenses.
Apply for an RESP Loan NowHow RESP Loans Work
The borrowed funds are deposited into your child’s RESP account, which is eligible for the Canada Education Savings Grant (CESG). Government adds 20% annually (up to $500 per child). Flexible repayment options fit your budget, while funds grow tax-deferred until withdrawal for educational purposes.
Maximize Government Grants
Borrow more to unlock full CESG and provincial education grants.
Accelerate Education Savings
Start growing your child’s fund immediately rather than waiting years to save gradually.
Flexible Repayment Options
Choose short-term or multi-year repayment schedules that suit your budget.
Tax-Deferred Growth
Investments grow tax-free until withdrawal, maximizing long-term potential.
RESP Loan Quick Facts
| Feature | Description |
|---|---|
| Government Grants | CESG: 20% of annual contributions up to $500 per child |
| Repayment Flexibility | Flexible schedules to fit family budget |
| Tax Advantages | Investment grows tax-deferred until withdrawal |
| Purpose | Build child’s education fund faster and maximize grants |
Secure Your Child’s Education
Ensure funds are available for tuition, books, and living expenses.
Maximize Grants Early
Contribute more upfront to capture maximum government incentives sooner.
Flexible Planning
Adjust contribution levels and repayment terms as your family finances evolve.
Peace of Mind
Access to funds and government incentives ensures educational goals are met without stress.
Frequently Asked Questions
How much can I borrow for an RESP?
Loan amounts vary by lender. They allow you to contribute more to the RESP than your current savings would permit, within grant limits.
Are there repayment penalties?
Most RESP loans offer flexible repayment schedules and may allow early repayment without penalties. Always check the terms with your lender.
Do loans affect government grants?
Grants like CESG have annual and lifetime caps. Loans can help capture maximum available grants sooner.
Who should consider an RESP loan?
Parents, guardians, or family members seeking to accelerate education savings, maximize grants, and utilize tax-deferred growth benefits.
Invest in Your Child’s Future Today
Maximize your education savings with an RESP Loan and unlock government grants, tax-free growth, and financial peace of mind.
Apply for an RESP Loan Now