A RESP, or Registered Education Savings Plan, is a government-registered account designed to help Canadians save for a child's postsecondary education. Contributions grow tax-deferred until withdrawn for educational purposes. 

The Canadian government offers grants such as the Canada Education Savings Grant (CESG) and the Canada Learning Bond (CLB) to boost RESP savings. These grants are based on contributions and income levels. 

Parents, guardians, and even grandparents can open an RESP for a child. Family members and friends can also contribute to an existing RESP. 

The lifetime contribution limit per child is $50,000. While there is no annual limit, the CESG has an annual limit of $500 and a lifetime limit of $7,200. 

If the beneficiary doesn't pursue postsecondary education, there are options. The contributions can be withdrawn tax-free, while the grants and investment earnings may be subject to taxes. 

Yes, you can have multiple RESPs for one beneficiary. However, the total contributions and grants must adhere to the lifetime limits. 

There is no age restriction for using RESP funds, but withdrawals must be for postsecondary education. Earnings and grants are taxed in the hands of the student. 

Yes, RESP funds can be used for qualifying educational programs outside of Canada. However, the educational institution must be recognized by the Canadian government. 

If the beneficiary receives a scholarship, RESP funds can still be withdrawn. The contributions can be withdrawn tax-free, while grants and earnings are subject to taxes. 

Yes, you can transfer RESP funds between siblings if certain conditions are met. This flexibility allows for strategic use of the funds within the family.