The Canadian government offers several plans to assist students who save for post-secondary education.

RRSPs and Lifelong Learning Plan (LLP)

The LLP allows eligible students to withdraw up to $10,000 per year, tax-free, from their RRSP. Withdrawals are repayable over 10 years. For details go to the Canada Customs and Revenue website.

RESPs

Registered Education Savings Plans allow savings to accumulate tax-free until the beneficiary enrolls in post-secondary education at a qualified school, such as PAVI. An RESP also allows you to apply for the Canadian Education Savings Grant. For more information go to the Social Development Canada website.

CESGs

Canadian Education Savings Grants are Canadian Government grants paid directly into a beneficiary’s RESP, to a limit of $7,200. For more information go to the Social Development Canada website.