What is the Canada Education Savings Grant?

The Canada Education Savings Grant (CESG) is a type of financial benefit from the Government that everyone can receive if they open an RESP.

When you add money to your child’s RESP account, the Canadian Government adds free money through the CESG to help pay for your child’s education after high school. This money from the Government helps the money you are saving grow even bigger over time.

This is how the CESG works:

Each year, you may add money to your child’s RESP account.

When you add money, the Canadian Government adds 20-40% of that amount to your child’s RESP account.

Your account grows every year from the contributions made and interest earned.

Families with lower-income receive a larger percentage matched by the Government through the Additional Canada Education Savings Grant” (A-CESG)

Key Features to know about:

  • The Canadian Government will give you up to $7,200 for your child to help pay for post-secondary education after high school.
  • This grant is added to all the money you put in until your child is 17.
  • The percentage matched by the Government depends on your family’s net income and will range from 20-40%.
  • You, a family member, a friend, or anyone else must make contributions to your child’s RESP for the Government to provide the CESG payments.
  • Your child must use the CESG money for post-secondary education after high school or the Government will take the CESG payments back.

Learn from the CanLearn websites about the Canada Education Savings Grant or the Additional Canada Education Savings Grant.

How do I apply for an RESP?

To open an RESP, visit a licensed provider

Learn about available providers Learn about what you need to open an RESP account

Frequently Asked Questions

Read a list of frequently asked questions here.

If you do not want to add your own money, you can still get free money from the CLB. Learn more

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