Short answer Often the RESP reduces borrowing need, but the best order depends on grants, loan terms, repayment help, tax, withdrawal timing, and cash flow.
Decision area Student aid questions

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Confirm the current rule before acting.

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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RESP and student aid explains the broader decision and links to related tools.

Sources to confirm

Canada Student Grants and Loans Employment and Social Development Canada · checked 2026-05-23 Apply with your province or territory Employment and Social Development Canada · checked 2026-05-23 Canada Student Grants and Loans loan agreement Employment and Social Development Canada · checked 2026-05-23 Repay a student loan Employment and Social Development Canada · checked 2026-05-23 Student lines of credit Financial Consumer Agency of Canada · checked 2026-05-23 Learn about OSAP Government of Ontario · checked 2026-05-23 OSAP definition: Registered Education Savings Plans Ontario Student Assistance Program · checked 2026-05-23 2025-26 OSAP application for full-time students Ontario Student Assistance Program · checked 2026-05-23 Pay for education using the RESP Canada.ca · checked 2026-05-24 RESP payments, transfers, and rollovers Canada Revenue Agency · checked 2026-05-24