RESP question bank

What is an RESP? Who can open an RESP? Do I need a SIN for an RESP? Can grandparents open an RESP? What is the difference between family and individual RESPs? Are group RESPs different? Can a child have more than one RESP? What is an RESP subscriber? Can parents control an RESP? Can adults open an RESP? Can I open an RESP for myself? Should an adult use an RESP? RESP or TFSA for adult education? What is an RESP beneficiary? Can I change the RESP beneficiary? What can an RESP invest in? Are RESP contributions tax deductible? What is the RESP lifetime contribution limit? Is there an annual RESP contribution limit? What counts as an RESP contribution? What is an RESP excess contribution? How do I open an RESP? What documents are needed to open an RESP? Can newcomers to Canada open an RESP? Can I open an RESP before a baby is born? How early should I start an RESP? How much should I contribute to an RESP? What happens if I miss an RESP contribution year? Can I pause RESP contributions? Who owns the money in an RESP? Can a child access an RESP at 18? Is an RESP worth it? RESP or TFSA for education savings? RESP or savings account? Can I use RESP money for private school? What schools qualify for RESP withdrawals? Can RESP money pay rent? Can RESP money pay for books? How long can an RESP stay open? How does an RESP work for multiple children? Can separated parents each open an RESP? What is an RESP promoter? Can I open an RESP for a niece or nephew? Where should I start if I know nothing about RESPs?

How much CESG can I get? How do I max out an RESP for a child? Should I front-load an RESP? What is additional CESG? What is the Canada Learning Bond? Can adults get RESP grants? Can youth 18 to 20 claim the Canada Learning Bond? Can I catch up on CESG? What are the age 16 and 17 CESG rules? Does income affect CESG? Can I get CLB without contributing? How do I apply for CESG? How do I apply for CLB? Does every RESP provider offer CLB? What is unused CESG grant room? Can RESP grants be repaid? What is the CESG lifetime limit? Can I get provincial RESP grants? What is the BC Training and Education Savings Grant? What is the Quebec education savings incentive? Does Saskatchewan have an RESP grant? Can RESP grants be shared between children? Does CESG count toward the $50,000 RESP limit? How fast are RESP grants paid?

Can I transfer an RESP? Which RESP provider is best? What RESP fees should I ask about? Should I use a bank or brokerage RESP? Can I use a robo-advisor for an RESP? What is a self-directed RESP? What is a managed RESP? How do I know if a provider supports provincial grants? Do RESP providers charge transfer fees? How do I transfer an RESP to another provider? Will RESP grants transfer to a new provider? How long does an RESP transfer take? How important is RESP withdrawal speed? What are group RESP risks? What should I ask before signing RESP documents? Can I switch RESP providers later? What if an RESP provider has problems? How do I find a low-fee RESP? What are RESP provider red flags?

Can RESP money be used before university? What can RESP money be used for when a child starts college or university? Can RESP money pay daily student expenses? Can RESP money be used to buy a car? Can RESP money be used to buy a home? Can RESP money be used for other purposes? How are RESP withdrawals taxed? What is an educational assistance payment? What if my child does not go to school? What proof is needed for RESP withdrawal? Can RESP withdrawals go to the parent? Can I withdraw RESP contributions anytime? Can a parent withdraw RESP contributions? Are there RESP withdrawal limits at the start of school? Can I withdraw before school starts? What happens to unused RESP money? Can RESP income transfer to an RRSP? Do RESP grants have to be returned if not used? How do I close an RESP? Will the student get a tax slip? Can RESP money be used for foreign schools? Can an RESP pay for adult education? Can an RESP pay for part-time adult school? Can an RESP pay for trade school or apprenticeships? What order should RESP money be withdrawn?

Does an RESP affect student aid? Does an RESP affect Canada Student Grants and Loans? Can I use an RESP and student loans together? Which student aid office do I use? Do provinces treat RESPs differently for student aid? Do I report RESP money on a student aid application? Does an RESP affect OSAP? Can I use an RESP and OSAP together? Do I report RESP money on OSAP? Should I use RESP money before taking a student loan? Can RESP money pay off a student loan? Will taxable RESP withdrawals affect student aid income? RESP or student line of credit? What records should I keep for RESP and student aid?

How should newcomers start learning about RESPs? How can low-income families benefit from an RESP? Can a non-citizen child have an RESP? What happens to an RESP if we move provinces? What should BC families ask about RESPs? What should Quebec families ask about RESPs? Where can families get RESP help in another language? What should newcomers ask RESP providers? Does Canada Child Benefit affect RESP grants? Can relatives contribute to a child's RESP?