A Registered Education Savings Plan can stay open until the end of its 35th year. In some cases it can stay open for 40 years.
That means if your child isn’t sure what they want to do when they are finished high school, or they want to take a year off school to save or travel, they can still access the funds within their RESP including the Canada Learning Bond funds.
Even if your child takes several years to decide on a post-secondary program, as long as it is before the RESP is in effect for 35 years, they can still access the funds.
Don’t delay if you think your family qualifies for the Canada Learning Bond! Apply as soon as possible.