Cash taken from a Canadian Registered Education Savings Plan (RESP) in the event the RESP"s beneficiary declines to attend school. RESPs enable contributions to grow tax free before the cash is taken, at which time taxes on withdrawals are generally nonexistent or low since pupils have little. In the event the beneficiary decides to not attend school, the investment income earned in the RESP isn"t forfeited provided that the subscriber (normally the pupil"s parent) is a resident of Canada during the period of withdrawal, the RESP is at least 10 years old, as well as the beneficiary is at least 21. In the event the beneficiary is deceased an accrued income payment can be made. AIPs are prohibited under all kinds of RESPs.