What does CESG mean in EDUCATIONAL

The Canada Education Savings Grant is a government grant offered by the Government of Canada to help Canadian families save for their children's post-secondary education.

Parents or guardians can receive up to ,200 per child in grants if they open and contribute at least 0 each year into a Registered Education Savings Plan (RESP). To be eligible, the beneficiary must be under 18 years of age and be a resident of Canada.

Depending on your net family income and contribution amount, you may be eligible to receive up to 0 per year in grant money. You can also unlock an additional 20% in grant money when annual contributions are made, which could add up to an additional ,200 over time.

To get the grant, you need to open and contribute at least 0 annually until the end of December of the calendar year in which your child celebrates his/her 17th birthday into a Registered Education Savings Plan (RESP). When these requirements are met, then you will receive 20% of your contributions back from the government as an additional incentive towards your post-secondary education savings.

Yes! In addition to receiving 20% back on RESP contributions made each year, there are additional provincial grants available depending on where you live that could provide families with even more assistance towards their post-secondary savings goals.