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Start by opening a Registered Education Savings Plan (RESP) for a child. An RESP is an account registered with the Government of Canada to help you save for a child’s post-secondary education. When you contribute to an RESP, the plan becomes eligible for government grants that can amount to thousands of dollars for a child’s future education.
The government gives the plan a basic grant of 20% on the first $2,500 of annual contributions to an RESP. That's up to $500 per beneficiary each year to a lifetime limit of $7,200 towards a child's education.