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Brochure
To make their life easier, your children and grandchildren will need a university diploma. In today’s job market, two thirds of the positions available require some sort of post-secondary education.
Fortunately, you can give your children or grandchildren a helping hand! With its Registered Education Savings Plan (RESP), Desjardins enables you to:
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 | Save up easily for a child’s education;
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| Enjoy a tax benefit, since your investments grow tax free, which enhances their return!;
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But many things can happen between now and the time your children or grandchildren enrol in college or university. No problem!
The Desjardins Registered Education Savings Plan has the flexibility you need:
| You determine the amount and frequency of your contributions and can make changes to these arrangements as you see fit;
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| You may subscribe to an RESP regardless of your relationship with the beneficiary (parent, grandparent, relative or friend);
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| You are free to change beneficiaries later on; should you decide to go back to school, you can even designate yourself!;
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| You can contribute an annual maximum of $50,000 for the entire duration of the plan;
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| You may withdraw your contributions at any time without penalty (However, you would have to repay the grant and the Canada Learning Bond, if applicable). If invested in a guaranteed investment certificate, you will have to wait until its redemption date to withdraw your contributions;
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| You can choose to keep your contributions or give them to the beneficiary, since the plan only provides for the transfer of income and the grant;
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| If the beneficiary decides not to continue his or her studies, you can transfer amounts accumulated in your Registered Education Savings Plan into your RRSP, subject to certain conditions. |
When the beneficiary enrols as a full-time student in a qualifying post-secondary educational program, he or she will receive Educational Assistance Payments (EAPs) on a gradual basis. EAPs are drawn from the income generated by your plan and the grant.
The EAPs received will then be added to his or her taxable income, but since the student will not have much other income, the tax rate applied will be rather low.
Signing up for the Desjardins Registered Education Savings Plan is an invaluable gift—it allows the child to dream of pursuing a post-secondary education.
For a personalized cost estimate based on the age of your children or grandchildren, (available soon).
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