Registered Education Savings Plans (RESPs) - Be Aware, and Beware!
Federal Budget 2008 RESP changes
- the
time RESPs remain open will be extended to 35 years from 25 years, and
the contribution period will be increased by 10 years. We have not done any analysis yet of whether these changes will make RESPs
better than some other method of saving for your child's education.
Private Member's Bill - Bill
C-253, a private member's bill introduced by Hon. Dan McTeague, which
proposed to allow a tax deduction for contributions to an RESP, was
blocked, so will not be enacted.
RESP topics
Other methods of saving for your child's
education
What is a Registered Education Savings Plan?
The risks and restrictions of
RESPs.
Beware of fees!
How much can be contributed
Canada Education Savings Grant (CESG) - How much will the government contribute?
Canada Learning Bond (CLB)
Alberta Centennial Education Savings
(ACES) Plan
What Types of RESPs Are Available?
What happens if we miss a payment or cancel the
RESP?
How are the funds paid out of the RESP, and are they
taxable?
Educational assistance
payments (EAP) - what educational programs qualify, and what expenses
qualify?
Other resources
Revised: June 15, 2009
