Is there a maximum amount I can contribute to an RESP?

You can contribute a lifetime maximum of $50,000 per beneficiary to an RESP. The amount of annual contribution room that is eligible for a grant is $2,500. Your contribution room is accrued each year starting in 2007 or the year the child was born, whichever is later. The contribution room keeps accruing up to and including the year the child turns 17.

To maximize the Canadian Education Savings Grant (CESG), you'll want to contribute $2,500/year per beneficiary for 14 years, and then top it off with an extra $1,000 in the 15th year. 

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