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RESP issues, can't take out enough

 
Old 06-23-2013 at 01:32 PM   #1
jrol
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RESP issues, can't take out enough
I'm going to be using money from my RESP, but can only take out $5000 in the first term. How do they expect students to pay for tuition, fees, books, meal plan and residence with $5000? The first year is going to cost me around $16,000. So if the first installment is around $8000, I won't have enough. What am I supposed to do? I'm going to go to the bank, but depending on the person I see I get a different answer to the same question every time.

I'm planning on cancelling my res spot and taking an apartment instead, but I still won't be able to take out enough because I'd need $5000 just for rent, plus a few thousand for tuition, books, fees, etc.

I can't be the only one with this issue...
Old 06-23-2013 at 03:46 PM   #2
doppelganger
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You can apply for OSAP or you can go with a different payment plan that Mac offers (rather than pay all the fees at once). You can see these plans via the payment agreement on MUGSI.



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