Canada Education Savings Grant
The Canada Education Savings Grant (CESG) is money that the Government adds to a Registered Education Savings Plan (RESP) to help save for the post-secondary education of a child. Payment of the CESG is dependent upon contributions made into the RESP. Money in an RESP can be used to help pay for full-time or part-time studies:
- in an apprenticeship program
- at a CEGEP
- at a trade school
- at a college; or
- at a university
How the Canada Education Savings Grant works
For the CESG, personal contributions must be made into a Registered Education Savings Plan (RESP). Anyone can open an RESP for a child; not only the child’s parent.
Each year, the CESG provides 20 cents on every dollar contributed, up to a maximum of $500, on a contribution of $2,500. If a contribution cannot be made in any given year, there is the ability to catch up in future years. CESG is available up until the end of the calendar year in which the child turns 17.
Depending on the income of the child’s primary caregiver, they may also be eligible for an Additional amount of Canada Education Savings Grant, which adds an additional 10 or 20 percent to the first $500 put into an RESP.
Additional amount of Canada Education Savings Grant
Children from low- and middle-income families may also be eligible for an additional amount of Canada Education Savings Grant (Additional CESG) on contributions made into a Registered Education Savings Plan (RESP). The Government adds the Additional CESG to an RESP, up to a lifetime maximum per child of $7,200 of CESG (Basic and Additional).
The CESG can be used by the child to help pay for full-time or part-time studies after high school:
- in an apprenticeship program
- at a CEGEP
- at a trade school
- at a college; or
- at a university
Canada Student Grant for Full-Time Students
The Canada Student Grant for Full-Time Students is available to students from low- and middle-income families who are enrolled in a full-time undergraduate program at a designated post-secondary institution.
Canada Student Grants for Part-Time Studies
The Canada Student Grant for Part-Time Studies is available to low-income students enrolled in a part-time program at a designated post-secondary institution.