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While there are many ways to secure funds for your child’s future education, a Registered Education Savings Plan (RESP) would be the best option. With this plan, you will not only save money but also enjoy subsidies from the Canadian government.
In other words, the maximum amount of money you can get from the government as a grant is CA$500 per year. This subsidy gets offered as the Canada Education Savings Grant (CESG). You may also get another subsidy known as Canada Learning Bond.