RESP QUESTION - Page 2
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Thread: RESP QUESTION

  1. #11
    Senior Member kcowan's Avatar
    Join Date
    Jul 2010
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    Yes I have 5 GCs and 2 are no longer eligible so I just tell TDDI what is the latest split.


  2. #12
    Junior Member
    Join Date
    Sep 2016
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    24
    Thank you for this info . I didnt know about this .

  3. #13
    Senior Member
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    Jun 2016
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    There is also a maximum lifetime grant per student of $7200. Not complaining. This is an excellent program. It always surprises me that the participation rate is so low.

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  5. #14
    Senior Member
    Join Date
    Mar 2016
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    To the OP, when you set up the RESP you have to tell the provider where you want the grants invested.
    Is it possible they credited your grants to tje mutual fund and you are looking in the savings portion.
    Otherwise it may be that you deposited the money to late in Dec to hit the banks submission to the gov for grants. They would then submit under their Jan submission.
    Most banks seem to do 1 submission per month for grants for all the RESP they hold.

  6. #15
    Senior Member kcowan's Avatar
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    Jul 2010
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    Quote Originally Posted by ian View Post
    There is also a maximum lifetime grant per student of $7200. Not complaining. This is an excellent program. It always surprises me that the participation rate is so low.
    There is also a lifetime contribution of $50k per student. This is just like an RRSP for the excess because if the kid does not use it, it can be transferred. Just make sure you leave enough room! We are planning to give each kid $40k but time will tell.


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