Rules for RESP withdrawals

What if your child decides not to go the post-secondary route?

If you’re tapping into Registered Educations Savings Plans this fall to pay for your kids’ post-secondary schooling, keep in in mind that there are plenty of rules about how RESPs are administered. And some parents will have to deal with the question of what happens to the RESP if their child decides not to go on to post-secondary school just now. Here’s a look at what’s involved.

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The ABCs of RESPs

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How to use RESPs to save for post-secondary schooling

May and June bring thoughts of summer vacations, the end of the school year, and graduations. For many students, post-secondary education is only a few years away. And their parents are often worried they won’t be able to afford to send their kids to university. Unless they start planning now, they could be right. Here’s why. READ MORE