The cost of university has risen sharply, and so has the importance of graduating with a desired and marketable set of skills and knowledge. Without a post-secondary education, employment and life opportunities are more limited now than ever before. Contributing to a grandchild’s education helps them and their parents, and helps you stay connected in a meaningful way.
Registered Education Savings Plans, or RESP’s, are a great way to save for a child education. While setting up a contributing to a RESP is a simple process, knowing the rules around withdrawals can be confusing. Below is a quick overview of everything you need to know about drawing down an RESP.