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:
“It is not God that is worshipped but the group or authority that claims to speak in His name. Sin becomes disobedience to authority not violation of integrity.”
—Sarvepalli, Sir Radhakrishnan (1888–1975)
“Architect. One who drafts a plan of your house, and plans a draft of your money.”
—Ambrose Bierce (1842–1914)
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