An RESP(Registered Education Savings Plan) is a type of plan which encourages savings for your childrens`education after high school. The federal government participates to the program by giving a 20% grant on contributions of up to $2500 per calender year per child. This tax-sheltered plan grows tax-free(like RRSPs), until the child enrols in post- secondary education.

For more info: www.cra-arc.gc.ca