What is the Canada Education Savings Grant (CESG) and how does it relate to my RESP?
The Canada Education Savings Grant (CESG) is a government grant established in 1998 designed to augment RESP contributions. It pays 20% on the first $2,000 of contributions made each year to all eligible RESPs of a qualifying beneficiary. The maximum annual CESG available per beneficiary is $400 per year until the year that the beneficiary turns 17. The total maximum CESG amount that a beneficiary can receive is $7,200.
