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In an RESP, you can hold cash, stocks, ETFs, long options, mutual funds, bonds, gold and silver, GICs, and more.
Once the child (beneficiary) enrolls in a qualifying education program, she or he can withdraw funds directly from the account. The income portion will be taxed at the beneficiary’s marginal tax bracket, which is typically low for students.
Any adult can open an RESP account for a child — parents, guardians, grandparents, other relatives, and friends. Adults can also open RESPs for themselves.