Family Single Student Plan
Features of the Family Single Student Plan
Government grants
Boost your child’s RESP by up to $500 a year, to a maximum of $7,200 per child. You may also be eligible for provincial grants.
Tax-deferred growth
Your savings grow untaxed, up to $50,000 per child. Even at withdrawal, income is rarely taxed when withdrawn strategically. Our RESP experts will help you maximize your RESP when it comes time to withdraw your funds.
Not just for tuition
Your student can use RESP savings for any type of post-secondary education and expense – not only tuition, but also living expenses, accommodation, books, and much more. In addition, your plan can earn interest and income for up to 35 years.
Contribute more to get there faster
Received a raise at work, or a cash gift from relatives for your child? It’s easy to make extra contributions to your Family Single Student Plan anytime. Or set-up our easy and automatic “Grow-with-me” feature to increase your savings annually.
Choose the amount and timing of withdrawals
When it comes time to withdraw, you choose the amount and timing that suits your child’s education needs.
Group life and disability insurance
Group life and disability insurance is included in the Family Single Student Plan, providing you with the security of completion protection in the event of death or total disability.
Access to programs and resources not found anywhere else
Knowledge First Foundation reinvests profits to help students achieve their dreams. As a customer, you and your student will gain access to programs and resources to help you prepare for decisions around post-secondary education as well as tips to help you get the most out of your RESP. Your student will also be eligible for our Knowledge First Rewards Program which provides access to scholarships and bursaries only available to Knowledge First students.
