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:
“around our group I could hear the wilderness listen.”
—William Stafford (1914–1941)
“Make your plans for the year in the spring, and your plans for the day early in the morning.”
—Chinese proverb.
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