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:
“Stripped of ethical rationalizations and philosophical pretensions, a crime is anything that a group in power chooses to prohibit.”
—Freda Adler (b. 1934)
“In preparing for battle I have always found that plans are useless, but planning is indispensable.”
—Dwight D. Eisenhower (1890–1969)
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