Can I Contribute to an RESP After My Child Turns 18?

Yes, you can continue contributing to your child’s Registered Education Savings Plans (RESP) after they turn 18. In fact, contributions can be made until the child turns 31. We often see parents at Canadian LIC who, due to earlier financial constraints, couldn’t contribute much when their children were younger but find this flexibility helpful now.

No, the Canada Education Savings Grant (CESG) stops when your child turns 17. However, you can still contribute to the RESP, and the money you add will continue to grow tax-free. Many clients come to us with this question, and we reassure them that, while the grant ends, it’s still worth contributing as the plan grows tax-free.

Yes, you can get a Registered Education Savings Plan Quote anytime, regardless of your child’s age. Many parents come to us at Canadian LIC, wondering how their future contributions will perform. A RESP Quote helps you see how much your savings could grow, even after your child’s 18th birthday.

There is no penalty for contributing after your child turns 18 as long as you do not exceed the lifetime contribution limits of $50,000. We often explain to our clients that there’s no harm in continuing to invest in their child’s future, even if they’re past 18.

The RESP can stay open for up to 36 years, so your child has plenty of time to decide when to start their post-secondary education. At Canadian LIC, we’ve worked with parents whose children took gap years or pursue other interests before going back to school, and they were relieved to know their RESP was still valid.

Yes, an RESP can be used for graduate studies. Many of our clients at Canadian LIC come to us looking to save for their child’s advanced education. Whether your child is entering graduate school at 22 or 25, your RESP contributions will still be there to support them.

You can continue contributing to the RESP until your child turns 31, so there’s still time to reach the lifetime limit of $50,000. We see many parents who initially felt they missed their opportunity but later realized they could catch up on their contributions.

Absolutely. A RESP Quote can help you understand how much your contributions can grow over time. Parents often approach us at Canadian LIC because they want to know if contributing after 18 is still worth it. We’ve seen how getting a quote clarifies the long-term value of continued contributions.

If your child chooses not to go to school, you can withdraw your contributions without penalty. However, any government grants, like the CESG, will need to be repaid. Many of our clients at Canadian LIC have faced this dilemma, and we’ve helped them explore options, such as transferring the RESP to another child.

Yes, grandparents and other family members can contribute to an RESP as long as the child is under 31. At Canadian LIC, we’ve seen many families where grandparents wanted to continue supporting their grandchildren’s education, and the RESP allowed them to do so.

Finding the right RESP provider can make a big difference. At Canadian LIC, we guide families toward the best Registered Savings Plan Providers that offer flexibility, good investment options, and reasonable fees. Choosing the right provider is key to making sure your RESP performs well.

Yes, you can transfer the RESP to another child as long as they meet certain requirements, such as being a sibling. We often advise our clients at Canadian LIC to consider this option if their original child decides not to pursue post-secondary education.

Many parents feel unsure about managing their RESP after their child turns 18. At Canadian LIC, we work closely with families to ensure they make the most out of their RESP, even as their children grow older. You can rely on us for expert guidance and to ensure your savings continue to grow effectively.

Yes, you can get a Registered Education Savings Plan Quote at any time, even after your child turns 18. Parents often come to us at Canadian LIC, unsure if their contributions will still make an impact. A RESP Quote can help you understand how much your money will grow and how it can benefit your child’s education, no matter their age.

You can contribute to an RESP until your child turns 31. Many parents we work with at Canadian LIC are surprised by this flexibility. They often think they’ve run out of time, but there’s still plenty of opportunity to add to their child’s education savings.

Yes, many Registered Education Savings Plan Providers offer flexibility, allowing you to continue contributing and managing the account as needed after your child turns 18. We’ve helped many parents at Canadian LIC find providers that suit their long-term savings goals and adjust to changes in their child’s educational plans.

Yes, your contributions will continue to grow tax-free, even after your child turns 18. We’ve worked with clients who found that this tax-free growth made a big difference when they withdrew funds for their child’s education, even if they started contributing later in life.

Yes, as long as the RESP remains open, you can withdraw funds when your child begins post-secondary education, even if they start later. At Canadian LIC, we’ve seen parents relieved to learn they didn’t have to rush their child’s education just to access the RESP funds.

You can continue contributing until you reach the $50,000 lifetime contribution limit. We regularly help clients who want to maximize their RESP contributions even after their child turns 18. Every dollar helps, and with continued contributions, you can make a substantial impact on your child’s future education costs.

Yes, if your child attends an eligible institution outside of Canada, you can still use RESP funds. We’ve helped many families at Canadian LIC who were unsure if their RESP would cover international education, and they were happy to learn that it could.

No, the withdrawal limits remain the same regardless of your child’s age. Once they enroll in a qualified post-secondary program, you can start withdrawing funds. Parents often ask us at Canadian LIC if age affects withdrawal limits, but rest assured, the rules remain the same as long as it’s for educational purposes.

A RESP Quote can show you how much your investments will grow over time. Even though the Canada Education Savings Grant (CESG) stops at age 17, your contributions can still earn interest and grow tax-free. At Canadian LIC, we recommend getting a quote to understand the potential growth and the financial benefits of continuing your RESP contributions.

Yes, you can change Registered Education Savings Plan Providers even after your child turns 18. At Canadian LIC, we’ve assisted many families in transferring their RESPs to providers that offer better investment options or lower fees. It’s never too late to switch to a plan that better meets your needs.

If your child doesn’t pursue post-secondary education, you can withdraw your contributions without penalty. However, any government grants will need to be repaid. At Canadian LIC, we often work with parents in this situation and help them explore options such as transferring the RESP to another child or using the funds for their own education.

No, it’s not too late. You can still start contributing to an RESP even if your child is already 18, up until they turn 31. Many parents we see at Canadian LIC begin their RESP journey later when they’re in a better financial position, and we help them maximize the benefits, even starting later.

Yes, RESP funds can be used for both full-time and part-time post-secondary education. We’ve seen many clients at Canadian LIC who needed to use their RESP for their child’s part-time studies, and they were able to do so without issue.