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Canada Education Savings Grant (CESG)

The Canadian government helps families save for their child’s higher education through a grant program known as the Canada Education Savings Grant (CESG). The grant is paid directly into a Registered Education Savings Plan (RESP). It's worth at least 20% of the annual contribution, up to a maximum of $500 per year per beneficiary (or up to a maximum of $600 depending on the net income of the child’s family) until the year of the beneficiary's 17th birthday.

Eligibility for the CESG

Every child up to and including age 17 is eligible to receive the CESG, provided:
  • the child is a Canadian resident
  • the child has a valid social insurance number (SIN)
  • the child is named as a beneficiary of an RESP
  • money has been put into the RESP

The amount of the CESG

The amount of the grant is based on your family income, and the amount can change over time as your family income changes.

No matter what your net family income is, the grant provides at least 20 cents for every dollar on the first $2,500 of annual RESP savings made on behalf of a child.

Depending on your family income, your child could receive additional grant on RESP savings that you make after 2004 on behalf of a child:

  • If your net family income is below $37,885*, the grant will be 40 cents for every dollar on the first $500 you save in your child’s RESP each year.
  • If your net family income is between $37,885* and $75,769*, the grant will be 30 cents for every dollar on the first $500 you save in your child’s RESP each year.

*This amount is updated each year based on the rate of inflation.

 

 

Additional Information

Benefits of an RESP

  • Up to $7,200 in Government Grants
  • Tax-Sheltered Growth
  • Flexible Investment Options
  • Tax Savings

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Useful Tools and Information

 
Education
Planning Tool

Get started by estimating the future costs of education.

Education Planning Calculator




 
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