WebNov 21, 2016 · If your household income is less than $160,000, she'll be eligible for OSAP grants and loans. You can use the calculator here: https: ... We have about $125,000 in the RESP on last check, but this amount is for both my kids to share and hopefully both my kids will pursue an undergraduate and graduate degree, so 4 degrees in total. ... WebSep 29, 2024 · Withdrawals from the RESP. To get money out of the RESP, the first step is to contact the financial institution that holds the RESP (in this case, it’s Mom’s financial …
Does having an RESP affect OSAP? : uwaterloo
WebJun 5, 2024 · In Ontario, the first $10,582 of income for 2024 is exempt from income tax due to the combined federal and Ontario basic personal amount non-refundable tax credits. … WebDoes having an RESP affect OSAP? Just Confused 9 comments 60% Upvoted Sort by: best level 1 · 2 yr. ago ECE 2024 If you use it, yes they will lower your OSAP loan. If you don't use it, there is no impact. (This was from when I was a student two years ago. Not sure if things have changed since) 2 level 2 · 2 yr. ago environment hillcrest crossings lower burrell pa
Can you get student loans if you have an RESP?
The Ontario Student Assistance Program (OSAP) is a financial aid program that can help you pay for college or university. OSAPoffers funding through: 1. grants:money you don’t have to pay back 2. a student loan:money you need to repay once you’re done school When you apply for OSAP, we automatically consider … See more OSAPis open to Ontario residents of any age who are: 1. Canadian citizens 2. permanent residents, or 3. protected persons See more You can use OSAPto go to a private or public college or university anywhere in the world, as long as it’s been approved. See more Before you begin your studies, you need to: 1. report the amount of social assistance you receive on your OSAPapplication 2. let your caseworker know how much … See more The amount of money you can get depends on your: 1. education expenses – the amount of money you need for tuition, books, child care (for full-time and part-time students), personal living expenses (full-time students), … See more WebHow does RESP affect OSAP? wondering if anyone has any knowledge/experience with this; my parents stopped paying for my tuition last year, so I signed up for OSAP. the … WebMar 27, 2024 · A Registered Education Savings Plan (RESP) is a savings account that is registered by the Government of Canada and allows money deposited for postsecondary … smart city components in africa