unless it is rolled into a registered retirement savings plan (RRSP), subject to individual contribution limits and applicable rules. Group plans In group RESPs (otherwise known as Group Scholarship RESPs), individual contributions are pooled with those of other contributors. Contributions to the plan are made according to a set schedule for the duration of the RESP contract. In a pooled group plan, the interest that is left behind from cancelled RESPs gets paid out with the matured plans. This excess "interest" is also called attrition. See also 529 plan (United States) References External links Canlearn.ca: Education Savings For Your Child Canada Revenue Agency HRSDC- Canada Education Savings Program Financial Consumer Agency of Canada Tax-advantaged savings plans in Canada Education finance in Canada