What statement concerning non-pooled RESPs is FALSE?

The statement asserting that a subscriber can only contribute to a Registered Education Savings Plan (RESP) until the beneficiary reaches 21 years of age is indeed misleading, making it the false one among the options presented.

In reality, while the subscriber can continue to contribute to the RESP until the end of the year in which the beneficiary turns 17, contributions can be made at any time before that age limit. It is important to note that after the age of 21, although the contributions must cease, the funds can still remain within the plan and can be grown until the beneficiary is ready to use them for qualifying educational expenses.

The other statements are true: subscribers do possess the flexibility to change the designated beneficiary, to transfer any unused contributions to different beneficiaries (under certain conditions), and to have control over the selection of investments within the RESP. These features underscore the adaptability of non-pooled RESPs for subscribers to manage their investment strategies and beneficiary needs effectively.