Investor Glossary-registered education savings planInvestor Glossary-registered education savings planInvestor Glossary-registered education savings planInvestor Glossary-registered education savings planInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Registered Education Savings Plan

The HTML to link to this page
 

A Registered Education Savings Plan - or RESP - is a special savings account designed to pay for a child's post-secondary education in Canada. A registered education savings plan is a relatively simple way for Canadian parents to save for their child's education. Under a registered education savings plan the Canadian government will contribute a 20% bonus on the first $2,000 placed into a registered education savings plan account. In addition, the Canadian government provides several important tax breaks for contributions to a registered education savings plan, although there are penalties for early withdrawl from a registered education savings plan account. Provisions are made for withdrawl from a registered education savings plan if the student does not qualify for post-secondary education. Through a combination of tax-deferrments and lower tax rates on withdrawl, a registered education savings plan is a helpful vehicle for many families struggling to pay for college expenses.



Rate this registered education savings plan definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: risk management, annual return, FTSE, dividends payable, implied volatility, Zero Cost Collar, inflation, open position, average price per share, 1031 exchange, option premium, quality assurance, current ratio, FICO score, ex-dividend date, liquidity ratio, labor relations, diluted share, margin rate, required rate of return, irrevocable trust, command economy, minority interest, EBITDA, cancelled check, APR, LIBOR, phantom income, deferred revenue, ex-dividend, real GDP, 401a, 1035 exchange, per diem, 144a, Key Rate Duration, stock split, debt service coverage, deferred tax, in escrow, limit order, VIX, wholly-owned subsidiary, covered put, retained earnings, balance sheet, reverse mortgage, class C shares, stock market close


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use