Whatever your daughter chooses, the money you saved over the years is still yours. This investment is returned to you in full at plan maturity, whether your child pursues a post-secondary education or not.
But know that your daughter’s choice of school career is not limited to university! She can pursue whatever path she chooses since all post-secondary-level programs entitle her to all her educational assistance payments, including vocational/trade school, technical, or college programs and so forth!
If a post-secondary education really isn’t for your beneficiary, then you have options: transfer the RESP to another child, transfer to an RRSP or withdraw the earned income (known as an AIP).1
1. Certain conditions apply. See our prospectus.
* Our lawyers insist that we mention the identities marked with an asterisk are fictitious and only serve to present the most frequently asked questions. We understand your concerns well, so we took the lead. The answers, for their part, are all very real.