RESP: Registered Education Savings Plan
Benefits of an RESP in Cambridge
Hence, when you are planning for future of your children and their higher education it is the best way to plan it. With it, you get the opportunity to help other students among your friend or family about whom you think that they have the prospect.
Take these plans from an expert agency who will explain to you about all these intricacies in details.
Registered Education Savings Plan
Opening and contributing to an RESP Plan in Cambridge
You can set an RESP for any relative, be it your children, grandchildren, nephews, nieces or other family friends. You will be considered as the ‘subscriber’ to the plan if you open the plan and contribute to it. You will have the right to set the beneficiaries who will get the benefit of the plan during their post-secondary education. To get this facility the beneficiary must be a Canadian citizen and should have Social Insurance number.
You can contribute any amount to the RESP opened by you; however, there is a lifetime contribution limit for each beneficiary and it is $50000.
To get RESP Plans in Kitchener, Waterloo, Cambridge, Brampton, Mississauga, Brantford, Hamilton & GTA. Call us at 226.868.2213