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.