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:
“Laughing at someone else is an excellent way of learning how to laugh at oneself; and questioning what seem to be the absurd beliefs of another group is a good way of recognizing the potential absurdity of many of one’s own cherished beliefs.”
—Gore Vidal (b. 1925)
“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)