Beginner questions
What is the difference between family and individual RESPs?
A family RESP can have multiple related beneficiaries, while an individual RESP is for one beneficiary and can be simpler when the subscriber is not saving for related siblings.
Reviewed 2026-05-23
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Source status: this educational answer links to the government, regulator, school, or provider sources used for the current review. It is not personal financial, tax, legal, or investment advice.
Short answer
A family RESP can have multiple related beneficiaries, while an individual RESP is for one beneficiary and can be simpler when the subscriber is not saving for related siblings.
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Beginner questions
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This answer is designed as a starting point. RESP rules can depend on residency, beneficiary age, income, provider support, plan type, and current government program rules.
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Start an RESP explains the broader decision and links to related tools.
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