yconic - Can RESP Withdrawal be deferred ?
Hide Menu

My Feed Money for School Student Help Brands Winners Support Center



Explore yconic
Explore Student Life Topics
Scotiabank
STUDENT CHAMPION
yconic proudly recognizes Student Champion Partners who are providing our community with superior support for their student journeys. Learn More
Student Help Brands

Can RESP Withdrawal be deferred ?

A photo of aquarius aquarius
My RESP money went down a bit due to the market crash last year .Would OSAP expect me to withdraw what I have (about $3K) or can I wait till my 4th year to withdraw it. I am hoping to make back some of the money that was lost.

Thank you and before anybody ask I couldn't find any info on this topic in this forum.
Was this helpful? Yes 0
5 replies
 
A photo of ktel ktel
I'm pretty sure you can defer it.
Was this helpful? Yes 0

 
A photo of Anonymous Anonymous
You can use your RESP whenever you want - first, second, etc. Just as long as you use it before you graduate you're fine.
Was this helpful? Yes 0

 
A photo of aquarius aquarius

@ARMY101 wrote
You can use your RESP whenever you want - first, second, etc. Just as long as you use it before you graduate you're fine.


Can it be used for graduate school or do I have to use it for undergrad only?
Was this helpful? Yes 0

 
A photo of ktel ktel
Yes you can definitely use it for grad school
Was this helpful? Yes 0

 
A photo of Anonymous Anonymous

@aquarius wrote

@ARMY101 wrote
You can use your RESP whenever you want - first, second, etc. Just as long as you use it before you graduate you're fine.


Can it be used for graduate school or do I have to use it for undergrad only?


Check with your bank, but all of the ones I know of are just for "education." That could mean an undergrad, a graduate degree, apprenticeship, etc.
Was this helpful? Yes 0