The Canada Education Savings Grant (CESG) is a program offered by the Government of Canada to help families save for their children's post-secondary education.
Under the CESG program, the Canadian government matches 20% of the annual contributions made to a Registered Education Savings Plan (RESP) account for an eligible beneficiary.
CESG is available to Canadian residents who have a valid Social Insurance Number & who have set up an RESP account. The child must also be under the age of 18.
CESG provides a grant of up to 20% of annual contributions made to a RESP, up to a maximum of $500 per year per beneficiary. The maximum lifetime grant amount is $7,200.
CESG will be part of the educational assistance payments paid out of RESP to the beneficiary. If beneficiary does not pursue post-secondary education, CESG is returned to government.
Additional Canada Education Savings Grant is available to certain families based on the net income of the primary caregiver (usually the parent) and can change from year to year.