Canada Education Savings Grant
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| Education Finances |
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The Canada Education Savings Grant or CESG[1] is an incentive to encourage saving for a child's post-secondary education, via partial matching grant, for contributors to a Registered Education Savings Plan (RESP)
On the first $500 contributed, the CESG yields: up to $200, if net family income is $38,832 or less; up to $150, if net family income is between $38,832 and $77,664; or up to $100, if net family income is more than $77,664 (incomes are indexed to inflation). On the next $2000 in contributions, the grant can rise to $400, depending on income.
The lifetime maximum amount of grant per child is $7,200.
All children up to age 17 are eligible, as long as they are Canadian residents and an RESP has been opened for them.
See also
CESG / CLB Quick Facts - Human Resources and Skills Development Canada
References
- ↑ Canada Revenue Agency, Canada Education Savings Grant (CESG), viewed July 3, 2009.
