What is the Canada Education Savings Grant (CESG)?

To help you save for your child's education after high school, the Government of Canada will add to your savings in a Registered Education Savings Plan (RESP) with a Canada Education Savings Grant (CESG). The grant is paid directly into your child's RESP.

Children up to and including the age of 17 are eligible to receive the CESG based on the following conditions:

1. The child is a Canadian resident;
2. The child has a valid Social Insurance Number (SIN)
3. The child is named as a beneficiary of an RESP; and
4. Money has been put into the RESP

For children 16 and 17 years old, one of the following conditions must be met in order for the child to receive the CESG:

• a minimum of $2,000 of contributions has been made to, and not withdrawn from, RESPs in respect of the beneficiary by December 31st of the year the child turns 15; or
• a minimum of $100 in annual contributions has been made to, and not withdrawn from, RESPs in respect of the beneficiary in at least any four years before December 31st of the year the child turns 15.

Eligible plans receive annual grants of 20% of contributions made each year, but grants are capped at $500 per annum or $1,000 if carryover room is available. Grant room can be carried forward. The lifetime CESG limit for a child is $7,200.