Canada Education Savings Grant
The Canada Education Savings Grant (CESG) is a Government of Canada program, administered through Human Resources and Skills Development Canada, to assist with savings for Canadian children's higher education. Under the CESG program, the government will contribute an amount to a Registered Education Savings Plan (RESP) according to a formula which is dependent on the amount contributed and the income level of the family in which the contributions are made.
The grant payment is at least 20% of the total annual contributions up to $2500 per child. For lower income families, the grant may be up to 40% on the first $500, and 20% on the balance over that amount. The maximum lifetime grant limit is $7200.
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