A Registered Education Savings Plan, or RESP, is an investment vehicle used by parents to save for their children's post-secondary education in Canada. The principal advantages of RESPs are the access to the Canada Education Savings Grant (CESG) and a source of tax-deferred income.
Read more about Registered Education Savings Plan: Tax Benefits, Early Withdrawals, Group Plans
Famous quotes containing the words registered, education and/or plan:
“To have no son, no wife,
No house or land still seemed quite natural.
Only a numbness registered the shock
Of finding out how much had gone of life,
How widely from the others.”
—Philip Larkin (1922–1986)
“In the years of the Roman Republic, before the Christian era, Roman education was meant to produce those character traits that would make the ideal family man. Children were taught primarily to be good to their families. To revere gods, one’s parents, and the laws of the state were the primary lessons for Roman boys. Cicero described the goal of their child rearing as “self- control, combined with dutiful affection to parents, and kindliness to kindred.””
—C. John Sommerville (20th century)
“Solomon’s ... excess became an insult upon the privileges of mankind; for by the same plan of luxury, which made it necessary to have forty thousand stalls of horses,—he had unfortunately miscalculated his other wants, and so had seven hundred wives....
Wise—deluded man!”
—Laurence Sterne (1713–1768)