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 ?
The Canada Education Savings Grant (CESG), begun in 1998, almost immediately became a $400-million per year program.
Roughly half of this money goes out in need-based loans and grants, while the other half goes in "universal" benefits to which all are entitled, such as tax credits and the Canada Education Savings Grant. Based on a combination of administrative and survey data, the study estimates the distribution of these two forms of assistance by family income quartile.
The Canada Education Savings Grant (CESG) Program was introduced in 1998 to encourage Canadians to save for the post-secondary education (PSE) of children.
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