Contribution dollar amount limitations
There is no yearly contribution dollar amount limit, but there is a lifetime contribution dollar amount limit of $50,000 per child.
Contributions time limitations
Contributions to an RESP can be made up to 31 years after it is first opened.
Government grant dollar amount limitations
Through the Canada Education Savings Grant the government will contribute 20 cents on every dollar that you invest up to a yearly maximum of $500, and a lifetime maximum of $7200. Some families will also qualify for an additional amount of Canada Education Savings Grant, or the Canada Learning bond which can pay up to an additional $2000 for each child.
Government grant age limitations
17 is the maximum age for grant eligibility.
Government grant time limitations
Grant room carries forward every year that it is not fulfilled. So if you’re not able to contribute $2500 per year, you can make catch up payments later on.