Canada Education Savings Grant


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Canada Education Savings Grant

A grant from the Canadian Government to individual Registered Education Savings Plans (RESPs). The grant matches between 20% and 40% of the first $500 of a family's contribution to an RESP, depending on the family's income. It then matches 20% of the family's contributions after $500, regardless of income, up to a maximum benefit of $2,500.
References in periodicals archive ?
Furthermore, I find that the Canada education savings grants (CESGs) paid as matching funds to RESP contributions are a costly, poorly targeted, and questionable use of public money.
Row 3: For 1997/98 through 2000/01, Canada, Human Resources and Development Canada, Canada Education Savings Grants Quarterly Statistical Review (Ottawa, April 2002.
Tax preferences for education saving: are RESPs effective?
Adds Milligan: "The $423 million the federal government expects to spend this year on Canada education savings grants (CESGs)--the federal matching grants that accompany RESP contributions--is a poorly targeted use of public money.
RESPs: the wrong way to support saving for higher education. (Communique)
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