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Education planning definitions

Saving for post-secondary education may seem complicated but it doesn’t have to be! This page will provide you with more information about the terms related to education planning. If you have questions or would like to discuss your investment options, contact DFS Investments.



Money withdrawn from a Registered Education Savings Plan when the child declines a post-secondary education. This type of withdrawal has tax implications to the subscriber.

The expected return of an investment that is calculated as a percentage of the total amount invested.

The individual who will receive payments from the Registered Education Savings Plan towards a qualifying post-secondary educational program.

Through the Canada Education Savings Grant (CESG), eligible contributions to a Registered Education Savings Plan can qualify for a grant from the government. The CESG is available to Canadian children under the age of 18 based on certain rules and restrictions.

The Canada Learning Bond (CLB) is designed to help families start saving for post-secondary education earlier. There are eligibility rules and restrictions which can be found on the Service Canada website.

Any withdrawal from a Registered Education Savings Plan that is not a post-secondary education withdrawal. Government grant money received on the contributions being withdrawn must be returned to the government at the time of the withdrawal.

When a student enrolls in a qualifying program, the subscriber can withdraw money from their Registered Education Savings Plan to help pay for their education. These withdrawals are called Educational Assistance Payments (EAP).

The promoter pays the contributions and the income earned on the contributions to the beneficiary of the Registered Education Savings Plan.

A Registered Education Savings Plan (RESP) is an account that is registered with the Canadian government that allows a person (subscriber) to save for a beneficiary's post-secondary education. Contributions grow tax-deferred and may qualify for a match from the government up to certain lifetime and annual limits.

The subscriber will set up the Registered Education Savings Plan for the beneficiary and will generally make contributions to the plan. Contributions cannot be deducted from a subscriber’s income.

Mutual Funds are not insurance products and are distributed through representatives of Desjardins Financial Security Investments Inc.

Please read the applicable Fund Facts before investing. Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments.

Mutual Funds are not guaranteed, their values change frequently and past performance may not be repeated. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer.

Neither Desjardins Insurance nor its agents provide tax or legal advice. Please consult your tax, legal or investment advisor regarding your specific circumstances

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