Frequently Asked Questions
What is an RESP?
Who are the three key players in any RESP?
How does an RESP work?
What are EAPs?
What is an RESP calculator?
What is a prospectus?
Does an RESP cover vocational/technical courses?
What’s the best time to open an RESP?
What is a Family RESP?
What is an Individual RESP?
How are RESPs managed?
What if my child decides not to pursue post-secondary education?
What if I don’t open an RESP when my child is born?
What’s the age limit of an RESP beneficiary?
Can one child be a beneficiary in more than one RESP?
Can an adoptive parent be a subscriber on an RESP account?
Are there any age restrictions to redeem money from an RESP?
Does a subscriber need to be a resident of Canada?
When does an RESP have to wrap up?
Contributing to your RESP
Is it possible to use RESP contributions as collateral for a loan?
What happens if I contribute too much to an RESP?
What’s the maximum lifetime contribution limit for an RESP?
Can I make a single or lump sum contribution?
How much should I be contributing to my RESP?
Do contributions to a Family RESP need to be allocated to specific beneficiaries?
When is the RESP contribution deadline?
Government Grants and RESPs
What are government grants?
What’s the difference between the Basic and Additional CESG?
What do I need to know about applying for government grants?
How do I check if I’ve maxed out on getting all possible government grants?
Can grants be carried forward?
Setting Up Your Application
What information do I need to complete an application?
How do I know if I’m eligible for a CST Spark RESP?
How do I complete a Bright Plan RESP application?
The CST Spark Benefit
Why should I choose CST Spark for my RESPs?
I have more questions. Can I talk to someone at CST Spark?
How is a CST Spark Bright Plan different from a bank’s RESP?
Withdrawing funds from your RESP
What happens when it’s time to take my money out of the RESP?
What if I withdraw from my RESP early?
What do I need to know about withdrawing from an RESP?
Can I transfer money from one RESP to another?
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