An RESP is a tax-sheltered savings plan that allows you to invest for your child’s post-secondary education more quickly. Anyone can open an RESP account for a child—parents, guardians, grandparents, other relatives or friends. You can make contributions into an RESP until 31 years after you first opened it. After that time, however, you can transfer savings from other RESPs into a single plan. You would then have until the end of the 35th year after the plan was first opened to use the funds before the RESP expires (unless otherwise specified in the terms for your plan).