An RESP loan is designed to help parents or guardians contribute to a Registered Education Savings Plan and potentially access available government grants for a child’s education.
Unlike RRSP loans, there’s no official “RESP loan” product with tax perks, it’s simply using borrowed money to boost education savings. The grant money is the main advantage, but borrowing still adds risk—so it’s usually best used cautiously and short-term.
An RESP loan is basically: Borrow → contribute → get grants → invest → repay loan
Build a stronger education fund by maximizing your RESP contributions and taking advantage of government grants and long-term investment growth.
