A Gift from the Federal Government
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The Canadian Education Savings Grant (CESG) is a government grant program initiated to encourage Canadians to invest in RESPs. The grant is equal to 20% on the first $2,500 in annual contributions to a maximum of $500 per year and $7,200 over a child’s lifetime. Lower-income families may be eligible for additional CESG payments.
Therefore $1 = $1.20 with the CESG
See Also: Tax Benefits of an RESP
See how the Canada Education Savings Grant (CESG) can enhance the value of your RESP with this calculator.
Calculate the CESG Grant Advantage