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Explore Education & Training

Savings and Earnings

It’s never too soon—or too late—to start earning and saving for school.


Savings from the following sources can help you pay for school:

  • part-time work during school
  • employment when not in school
  • allowance, gifts, prizes, investments, etc.
  • money from parents and family
  • RESPs (Registered Education Savings Plan)

    If you’re under 18 and do not have an RESP, talk to your family about setting one up. An RESP is a special savings account that helps you, your family and /or friends save for post-secondary education. An RESP
    • allows savings to grow tax-free until you withdraw the funds for school. As a student you’ll usually have little to no taxable income, so you'll pay little to no tax on the RESP income.
    • may qualify for additional government grants of 20% to 40% of the money put into the program each year, through the Canada Education Savings Grant and the Canada Learning Bond.

    Check out these resources to learn more:
  • RRSPs (Registered Retirement Savings Plan)
    You can withdraw up to $10,000 in a calendar year from your RRSP to pay for training or education. Find out more at Registered Retirement Savings LifeLong Learning Plan.


These options let you learn and earn at the same time:

  • Co-operative (co-op) education programs accessed through a post-secondary school, provide alternate terms of full-time study with work placement—usually with pay. Co-op programs let you
    • earn money to help pay for school
    • gain work experience
    • make industry contacts
    • gain an edge on post-grad employment. Many employers use co-op positions as “trial” periods that can lead to full-time employment when you graduate.

  • Apprenticeship is a training program that combines on-the-job training and work experience with technical training at a post-secondary school. From day one as an apprentice, you earn a salary for time on the job. Many Trades offer apprenticeship programs.

  • Summer jobs and part-time work during the school term can be learning and earning opportunities. Check out these resources and make the most of your job:
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