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RESP help. (I used the search option already) Options ▼
demonic213
#1 Posted : Wednesday, July 20, 2011 1:12:20 PM
Rank: Frosh


Joined: 6/7/2011
Posts: 6
So. I have RESP and OSAP. I kind of understand releasing the OSAP aid, but not the RESP that my parents saved up for me since I was a kid.
ARMY101
#2 Posted : Wednesday, July 20, 2011 3:24:02 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
Thank you for using the search function first.

What don't you understand? How to claim your RESP?
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demonic213
#3 Posted : Wednesday, July 20, 2011 5:21:35 PM
Rank: Frosh


Joined: 6/7/2011
Posts: 6
That is exactly it XD. How/the process to claim my RESP.
ktel
#4 Posted : Wednesday, July 20, 2011 6:29:39 PM
Rank: Student Body President


Joined: 6/3/2011
Posts: 2,118
Ask the financial institution that holds your RESP...
ARMY101
#5 Posted : Wednesday, July 20, 2011 8:50:48 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
You claim the RESP on your OSAP form and then you withdraw it from your bank...
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Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
aptnotatt
#6 Posted : Monday, August 01, 2011 6:32:35 PM
Rank: Frosh




Joined: 8/1/2011
Posts: 19
How exactly do you claim it on your OSAP form?
I have sent forms over to my university and saying that it should be deposited into my bank account.
So what is this in relation to OSAP?
University of Western Ontario - BSc. Biology and Medical Sciences 2015
ARMY101
#7 Posted : Monday, August 01, 2011 11:09:56 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
aptnotatt wrote:
How exactly do you claim it on your OSAP form?
I have sent forms over to my university and saying that it should be deposited into my bank account.
So what is this in relation to OSAP?

There was a space on your application that said you will pay your tuition $x by working, $x from an RESP, etc.
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Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
aptnotatt
#8 Posted : Tuesday, August 02, 2011 10:00:22 AM
Rank: Frosh




Joined: 8/1/2011
Posts: 19
Oh okay but I would like to assume that alters the amount of OSAP you receive. When do you claim the money of RESP? Would that be together with OSAP? I know it's third party so RESP would have their own system..
University of Western Ontario - BSc. Biology and Medical Sciences 2015
aptnotatt
#9 Posted : Tuesday, August 02, 2011 10:00:22 AM
Rank: Frosh




Joined: 8/1/2011
Posts: 19
Oh okay but I would like to assume that alters the amount of OSAP you receive. When do you claim the money of RESP? Would that be together with OSAP? I know it's third party so RESP would have their own system..
University of Western Ontario - BSc. Biology and Medical Sciences 2015
ARMY101
#10 Posted : Tuesday, August 02, 2011 11:19:30 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
aptnotatt wrote:
Oh okay but I would like to assume that alters the amount of OSAP you receive.


Yes.

Quote:
When do you claim the money of RESP? Would that be together with OSAP? I know it's third party so RESP would have their own system..

Claim the RESP to OSAP? You should have done that back in June when you applied for OSAP. If not then write to them ASAP and tell them.
**Shields**
Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
aquarius
#11 Posted : Saturday, August 06, 2011 8:07:37 AM
Rank: Student Body Vice-President




Joined: 5/3/2011
Posts: 994
Do u have to use the RESP in the first year or can it be used in any other year ?

my 2nd question : when I used the OSAP aid calculator ,it asked me if I have RESP (answered yes ) but doesn't ask how much ; so I'm wondering if the estimation is correct ?
I used both scenarios yes and no to RESP and gave me the same aid estimate.
ARMY101
#12 Posted : Saturday, August 06, 2011 1:06:02 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
aquarius wrote:
Do u have to use the RESP in the first year or can it be used in any other year ?

my 2nd question : when I used the OSAP aid calculator ,it asked me if I have RESP (answered yes ) but doesn't ask how much ; so I'm wondering if the estimation is correct ?
I used both scenarios yes and no to RESP and gave me the same aid estimate.

You can use the RESP at any time. When you do use it, you have to claim how much it is.
**Shields**
Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
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