Beginner questions
An RESP is a registered education savings plan used to save for education after high school. It can hold personal contributions, eligible government education savings benefits, and investment growth.
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.
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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.
Start an RESP explains the broader decision and links to related tools.