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Registered Education Savings Plan

   Also found in: Acronyms, Wikipedia 0.03 sec.
Registered Education Savings Plan
In Canada, an account into which a person makes contributions up to a certain limit in order to save for a university education and from which he/she begins to take distributions to pay for tuition and other expenses. A Registered Education Savings Plan allows for tax deductible contributions and taxable distributions; that is, contributions are tax-deferred until withdrawals are made. Registered Educations Savings Plans may be invested in securities and usually own common stock and certificates of deposit. See also: Registered Retirement Savings Plan.


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This would probably happen just when most families are looking at finally having some financial security A Registered Education Savings Plan - RESP - is vital for your financial health if you have kids who you feel may want to go into post secondary education.
These are called Registered Education Savings Plan (RESP).
He also said education is his top priority, and announced a $500 grant toward a registered education savings plan for every child born or adopted in the province.
 
 
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