Questrade's self-directed RESP (Registered Education Savings Plan) allows subscribers – usually a blood or adopted relative of the beneficiary – to make tax-deferred contributions to a child's education. The benefit of a self-directed education plan is the control it gives subscribers to decide how and where the savings are invested. Parents, grandparents, relatives and friends can all contribute to an individual plan. RESP contributions are not tax-deductable. They do, however, allow savings to compound and grow tax-free.

The Canada Education Savings Grant

This is a government program that supplements your RESP contributions. The government contribution, based on a percentage of your contribution, varies depending on your income level. Annual and lifetime caps apply. To receive the Canada Education Savings Grant, you must have the subscriber's birth certificate, social insurance number and be a recipient of the Canada child tax benefit.

The Canada Learning Bond

An initiative targeted at lower-income families, the bond is deposited directly into the subscriber's RESP. This is an outright grant that is not based on the subscriber's RESP contributions.

We've bundled all the additional application documents for government programs, such as the application for the CESG, into Questrade's RESP account application process. You will be prompted during the account opening process to download additional documents that may be applicable to you.

Relevant web pages maintained by the Government of Canada:

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