Grow your RESP with RBC Contest. Participants have a chance to win 1 of 4 prizes of $500 to put towards their won RESP. Contest ends October 4, 2015. Get more information here.
The #RESPwithRBC Twitter chat happened on September 17 and it was a great time to ask questions, which @RBC_Canada provided information about Registered Education Savings Plan's. I already had one opened for my daughter at age four (by her Aunt) but still didn't understand all the terms and conditions. The information gathered at the Twitter chat was helpful and here are the two main questions I had answered:
1) What happens if your child doesn't go to university?
If they don't use the money for university, the money can be transferred to a sibling or into RRSP savings.
2) How can low income families get started?
Low income families may be eligible to receive up to $2000 without making contributions.
Ask questions and learn more about RESPs from your local RBC branch or visit the RBC website to learn more.Have you read my previous post about nearly falling into financial ruin with student loans? Help your children plan for #someday.
Disclosure: This is a sponsored post with specific information provided on behalf of RBC. Please consult a financial advisor to get up to date information to guide your financial choices.