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I was told I would lose my money if my child doesn’t go to school. Is that true?



Whether your child goes to school or not, the money you invested for education is your property! This sum is returned to you in full once the RESP reaches maturity.

What’s more, RESP funds are available for 35 years after you open your plan. This is an important feature since young adults sometimes need a break after high school or aren’t sure about their next move. The RESP gives them plenty of time to apply for their funds once they’re set on going back to school.

If a post-secondary education really isn’t for your beneficiary, then you have options: transfer the RESP to another child, transfer to an RRSP or withdraw the earned income (known as an AIP).1


Legal Notes

1. Certain conditions apply. See our prospectus.

* Our lawyers insist that we mention the identities marked with an asterisk are fictitious and only serve to present the most frequently asked questions. We understand your concerns well, so we took the lead. The answers, for their part, are all very real.