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)
“A father ... knows exactly what those boys at the mall have in their depraved little minds because he once owned such a depraved little mind himself. In fact, if he thinks enough about the plans that he used to have for young girls, the father not only will support his wife in keeping their daughter home but he might even run over to the mall and have a few of those boys arrested.”
—Bill Cosby (20th century)