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:
“The boys think they can all be athletes, and the girls think they can all be singers. That’s the way to fame and success. ...as a group blacks must give up their illusions.”
—Kristin Hunter (b. 1931)
“We for a certainty are not the first
Have sat in taverns while the tempest hurled
Their hopeful plans to emptiness, and cursed
Whatever brute and blackguard made the world.”
—A.E. (Alfred Edward)