How to Change Your Family Group RESP to an Individual Plan
Group RESPs are designed to meet the needs of students who will be attending four years of post-secondary education. If that was your expectation, then you may have chosen a Family Group RESP for your child.
But kids have a way of doing the unexpected. That’s why we give you the flexibility to switch to a Family Single Student RESP any time before your Family Group plan matures. The Family Single Student plan provides more choice in the amount and timing of payments out of the plan, making it an appropriate option if your child wants to take some time off after high school or between years at college or university.
For Heritage Plans
If you have a Heritage Plan for your child, you can select the Self-Determined Option at time of maturity. This is typically for students pursing programs of study of less than 2 years and provides more choice in the amount and timing of payments from the plan.