We make RESP contributions flexible to suit your life

This illustration also shows how much a plan like yours may be worth when your child is 18.5 years and compares this amount to the estimated cost of a university or college education at that time. The projected value includes contributions, government grant, income on contributions and grant earned to date, future scheduled contributions (if any) until your child turns 18.5 years and government grants you are expected to accumulate. The projected income on contributions and grants is estimated from today’s date to the date when your child turns 18.5 based on a series of annual net rates of return ranging from 1.5% to 4.0% that reflect your child’s age group and the changes in the asset allocation over the life of your plan. 

The projected value for each beneficiary in a Family Plan with multiple beneficiaries is estimated using each beneficiary’s allocation of the contributions and future scheduled contributions, the income on allocated contributions you are expected to accumulate for each beneficiary and the specific share of grant and grant income allocated to each individual beneficiary. 

This illustration assumes all scheduled contributions will be made. It is not intended to show an actual future value. Investment returns and the actual future value of your education savings plan cannot be predicted or guaranteed. 

Projected tuition costs of a 4 year university program are based on the annual average cost of tuition and compulsory fees across Canada for the previous school year and an assumed average annual increase of 1.3% based on the previous 5 year's average. Room and board are based on typical costs of residence with an assumed average annual increase of 2.3% based on the previous 5 year's average. Projection includes the cost of entertainment, transportation and books adjusted using an annual inflation rate of 2.0%. Source: Statistics Canada 2021 and university websites.

What can you spend your RESP on?

Tuition

Tuition is a big chunk of the cost of post-secondary education, but not all of it.

Textbooks

About 8% of costs will come from textbooks and other materials.

Rooming

Rent can start at $500 a month, and go up to as much as $2,000.

Food

Paying for food adds up to roughly 20% of your child’s expenses.

Transportation

Getting to and from school is a small cost that adds up over time.

Technology

A cell phone plus home Internet come to at least $65 a month.

Start an RESP today

Use our online tool to see how much your child could have if you start saving for them today.

Enter to win a $2,500 CST Spark RESP for your child!

At CST Spark, we’re serious about partnering with Canadian families to help save for their little learners’ education. To help you kickstart your education savings, we’re giving away one prize of a $2,500 CST RESP every month. 

Raising your little superstar can be chaotic so we made saving for their future education simple.