Embark Student Foundation RESP review

Supported grants and incentives

• Basic CESG: offered on the Canada.ca RESP promoters list.
• Additional CESG: offered on the Canada.ca RESP promoters list.
• Canada Learning Bond (CLB): offered on the Canada.ca RESP promoters list.
• B.C. Training and Education Savings Grant (BCTESG): offered on the Canada.ca RESP promoters list.
• Quebec Education Savings Incentive (QESI): Revenu Quebec's current provider list includes Embark Student Corp., and Embark's FAQ says Quebec incentives are among the grants it helps families obtain.
• Embark's FAQ says it automatically applies for eligible government grants once the RESP application is completed.

Account types

• Individual RESP.
• Family RESP.
• Embark's current plan summary and July 16, 2025 prospectus describe the Embark Student Plan as a scholarship plan with individual or family savings plan options.
• Embark's July 2024 transfer page says legacy Family Single Student and Flex First RESPs were moved to Embark Plan options, so families comparing accounts should distinguish current Embark Student Plan openings from legacy migrated plans.

Fees

• Embark's current public RESP page and FAQ say the Embark Student Plan charges a 1.65% MER annually, plus applicable taxes.
• The July 16, 2025 prospectus says the management fee for new individual and family plans is up to 1.99% per year plus applicable taxes, and says the weighted-average management fee for the fiscal year ended December 31, 2024 was 1.65% plus applicable taxes.
• The prospectus says there are costs for participating in the plan and that plan fees are paid directly from contributions, while plan-paid fees and expenses reduce earnings; readers should review the prospectus instead of relying on marketing copy alone.
• The fee schedule lists a $200 transfer-out fee per transfer, $40 NSF fee, $50 cheque-payment fee, $50 lost-cheque or stop-payment fee, and $20 paper-statement fee.
• Embark's current plan overview says there are no sales charges to buy, redeem, or switch units.

Transfer process

• Embark's public transfer-in page markets RESP transfers into Embark and directs users to a transfer contact flow rather than publishing a detailed self-serve transfer checklist or standard timeline.
• The 2025 prospectus says transfer-ins from another RESP are allowed if permitted under the Income Tax Act, and the plan assets are transferred from the other RESP promoter into the plan.
• For transfers out, the prospectus says subscribers must complete a RESP Transfer Form and deliver it to the receiving RESP provider.
• The prospectus says Embark does not permit partial transfers out.
• The prospectus and posted fee schedule both show a $200 transfer-out charge, plus applicable taxes in the prospectus.
• Embark's 2025 prospectus warns that transfers can trigger grant repayment or excess-contribution issues if the receiving plan structure does not fit the beneficiary and family relationship rules.

Withdrawal process

• Embark's FAQ says subscribers may request a return of some or all contributions at any time and that the provider separates educational and non-educational withdrawals.
• The educational withdrawal form says proof of enrolment is required and that an acceptance letter or offer of admission is not valid.
• The educational withdrawal form says users can request a faster payout by logging in at embark.ca and submitting the withdrawal online, while Embark's current RESP page markets online withdrawals without branch visits.
• Embark's withdrawal materials say subscribers can control the amount and timing of withdrawals, subject to RESP rules.
• The 2025 prospectus says subscribers may request a return of some or all contributions at any time, but the contract can be cancelled if the account does not remain CLB-only or keep a minimum $500 balance.
• The prospectus applies standard first-13-week EAP limits of $8,000 for qualifying full-time programs and $4,000 for specified part-time programs, unless higher amounts are supported under RESP rules.
• Embark's non-educational withdrawal form is used when the student is not attending post-secondary education and is not expected to attend, and it tells subscribers to contact customer service to discuss other options first.

Neutral comparison notes

• Compared with self-directed brokerage RESP pages reviewed so far, Embark's current RESP offer is a managed scholarship-plan structure rather than an account where families choose individual securities.
• Embark publishes more explicit cancellation, transfer, and withdrawal cautions in its prospectus than on its marketing pages, so the legal disclosure matters more here than with simpler brokerage RESPs.
• Families comparing providers should note that Embark currently shows federal grants and BCTESG support on Canada.ca, and QESI support through Revenu Quebec's provider list, but grant support still depends on beneficiary eligibility and correct application timing.
• Embark's current public materials emphasize digital servicing and online withdrawal requests, while also keeping form-based and written-request requirements in its official disclosure and withdrawal documents.

Investment options noted on official pages

• Embark markets a managed glide-path approach rather than a self-directed brokerage RESP.
• Embark's current plan overview says the plan invests primarily in exchange-traded funds and showed BMO Asset Management Inc. as portfolio manager on the reviewed plan profile.
• The prospectus says the investment mix shifts with the beneficiary's age, with more equity exposure in earlier years and more fixed income exposure closer to expected school use.

Sources to use