Group Plans
In group RESPs (otherwise known as Group Scholarship RESPs), individual contributions are pooled with those of other contributors. In a pooled group plan, the interest that is left behind from cancelled RESPs gets paid out with the matured plans. This excess "interest" is also called attrition.
Read more about this topic: Registered Education Savings Plan
Famous quotes containing the words group and/or plans:
“Belonging to a group can provide the child with a variety of resources that an individual friendship often cannot—a sense of collective participation, experience with organizational roles, and group support in the enterprise of growing up. Groups also pose for the child some of the most acute problems of social life—of inclusion and exclusion, conformity and independence.”
—Zick Rubin (20th century)
“Man you ought to see his plans for allsteel buildins. He’s got an idea the skyscraper of the future’ll be built of steel and glass. We’ve been experimenting with vitrous tile recently... crist-amighty some of his plans would knock you out... He’s got a great sayin about some Roman emperor who found Rome of brick and left it of marble. Well he says he’s found New York of brick an that he’s goin to leave it of steel... steel an glass.”
—John Dos Passos (1896–1970)