Canada Education Savings Grant (CESG)

Right for you if:

  • You'd like to boost your RESP savings
  • You'd like the government to match your contribution
  • Give your RESP a boost The government will match your eligible contribution to an RESP by 20%.
  • Maximize your contributions Contribute up to $50,000 per child, and the CESG will match your contributions,
    up to a maximum of $7,200 per child.
  • Get more grant moneyIn some cases, additional CESG may be received based on family income.

PLUS:

Catch up on missed contributions from previous years.

Eligibility Requirements to Receive CESG

The child you are saving for must be a Canadian resident and have a valid Social Insurance Number (SIN).

An eligible beneficiary qualifies for Basic CESG up to December 31 of the year in which they turn 17. If your beneficiary is 16 or 17, they qualify for Basic CESG if:

  • A minimum contribution of $2,000 is made by December 31st of the year the child turns 15
  • OR
  • A minimum of $100 is contributed during any four years prior to December 31st of the year the child turns 15

Eligibility to receive Additional CESG payments to your RESP is based on the following Net Family Income amounts:

Year First Threshold
Additional CESG rate is 20% when the adjusted family net income is:
Second Threshold
Additional CESG rate is 10% when the adjusted family net income is more than:
2017 $45,916 or less Greater than $45,916 but not more than $91,831
2016 $45,282 or less Greater than $45,282 but not more than $90,563

Just make a qualified Education Assistance Payment (EAP) withdrawal and you will receive your CESG plus any income the grant has generated as part of the withdrawal.

Your RESP can stay open for 35 years. If the child you've been saving for decides not to attend school, your contributions are returned to you and the CESG can be used towards an eligible sibling's education or returned to the Government of Canada.

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