Financial Planning Information for Parents
The Canada Education Savings Grant (CESG)
The Canada Education Savings Grant (CESG) has been established by the Government of Canada to encourage parents and family members to start saving early for their child's post-secondary education.
In order to be eligible for this grant you will need to establish a Registered Education Savings Plan (RESP) (see above) for your child/beneficiary. Once you have done so, the CESG will be paid directly into the RESP.
This Grant will contribute an additional 20% (up to a maximum of $400 per year) on top of your annual RESP contribution. Other conditions and restrictions apply; please consult the HRDC website for further details.