If a family member has saved Registered Education Savings Plan (RESP) funding for your education, you will be expected to use it as a resource.

The terms of RESP plans can vary a great deal. For example, many plans don't allow you to use RESP funding for your first year of a multi-year school program. Contact your plan holder for details about how you can access the funds of your plan. Report your RESP funding as follows:

  • There is a space on our annual application to report any RESP amounts that you plan to use for that academic year.
  • Be prepared to provide a letter from the planholder that details how much funding you have withdrawn/will be withdrawing from the RESP, including the date(s) on which the funding was withdrawn.
  • Any RESP amounts you plan to use each year will be considered when we assess your Parental Contribution. In some cases, some or all of any RESP funding available to you will reduce or replace your Parental Contribution.


If you have investments, including RRSPs, we assume you will use these as a resource toward the cost of your education. Some RRSP amounts may be exempted; if you are going to school after spending some time in the workforce, and made RRSP contributions during that time, you may be eligible for a $2000 exemption for each of those years.

When you withdraw RRSP funding to use for school, either during your pre-study period or study period, and/or to claim the exemption, report your RRSPs to us as follows:

  • tell us the full value of your RRSPs
  • send proof of the amount and the date you purchased the RRSPs
  • state the amount you will be withdrawing, which will be included in your resources.