Since 2008 university costs have increased significantly but RESP limits remain unchanged
In 2008 the government set the RESP contribution limit to $50K and CESG match to $500 annual / $7200 lifetime. Government Source: History of RESP
But Stats Can (set start date to 2008) reports that university tuition has increased 50% from 2008-2021. In fact I think that’s heavily understated for many programs — I know Engineering undergrad costs have increased 100%.
But the RESP limit and CESG grant remain unchanged — seems ridiculous to me. Any idea why? I’m surprised politicians haven’t worked on this. Is the RESP unpopular among voters?
submitted by /u/pepero74
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