Education Savings Plan (ESP)

Right for you if:

  • You want to provide your children with the benefits of higher education

  • You need additional funds to pay for your child’s post-secondary education

  • We all want the best for our children and that includes the benefits of a higher education, but paying for it takes planning and commitment. With the Scotiabank Education Savings Plan (ESP) you can get a head start and establish a clear path toward your child’s higher education.


    Offset your borrowing costs tomorrow by saving today


    Opening an ESP makes you eligible for borrowing rate discounts when you take out a future education loan to help pay for your child’s post-secondary education.

    The longer you save, the higher the discount: The amount of the discount is based on the length of time the plan has been active, with the earned loan discount rate1 growing over the course of the first five years the ESP is opened.

    See how much you can save
    Time in the ESP Loan Discount Earned1 (off posted rates)
    1 year 5%
    2 years 10%
    3 years 15%
    4 years 20%
    5 years 25%

    Additional Information

    How to apply

    Download the application form 

    Account Service Fees

    Personal Financial Services Agreement

    Terms and Conditions

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    Application Form: Bring it with you on your next visit.

    Ready to Apply?

    In Person

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