You can open a Registered Education Savings Plan (RESP) at a number of places, such as a:

• Bank or trust company
• Credit union or caisse populaire (if you are a member)
• Scholarship trust company
• Brokerage firm (if you want to invest your RESP money in things like stocks, bonds, or mutual  funds)
• Mutual fund dealer
• Mutual fund company that sells directly to the public
• Life insurance company

The company that sets up your RESP is called your plan provider. Each plan provider offers you choices on how to grow your savings. Before you decide, make sure you understand the different types of RESPs and how they work. Choose one that fits your goals and the way you like to invest.

Example: Some people open a plan without knowing what happens if they change their minds later. They get a big shock when they try to leave the plan. With some plans, you don’t get a lot of your money back if you leave in the first year.

Remember: There are many types of RESPs and many places to open one.

Each type of plan has its own rules. To avoid surprises, choose a plan you understand really well.