The Canada Education Savings Grant (CESG) is money that the Government adds to a Registered Education Savings Plan (RESP). Canada Education Savings Grant (CESG)
· Money the government adds to an RESP to help save for the post-secondary education of a child.
· Represents 20% of every dollar contributed, up to a maximum of $500 per calendar year ($1,000 if there is unused grant room from previous years)
· Available until the end of the calendar year in which the child turns 17
· Maximum amount of the CESG a beneficiary can receive in his or her lifetime: $7,200
Additional CESG
· The government adds this grant to RESPs for beneficiaries from low-to middle-income families
· 10% of the first $500 contributed, up to a maximum of $50, for a net family income of between $50,197 and $100,392
· 20% of the first $500 contributed, up to a maximum of $100, for a net family income of less than $50,197
Income figures for 2022 shown