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Can I open an RESP for a teenager/older child?

by Maxine
Posted August 1 2010 12:38am
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Yes, you can open an RESP for a teenager or older child. Any child 17 or younger is eligible for the Canada Education Savings Grant. However, the younger you start the more interest will accrue and the more contributions you will be eligible to receive from government incentive programs. Since the plan is designed to support long-term savings for your child’s education there are special rules that apply for children between the ages of 15 and 17. Contact Service Canada or speak to your RESP provider for more information on your specific situation.

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