Fuel your RESP contributions

A young girl reads at her desk in class.

Once an RESP has been opened for them, Canadian children up to age 17 are eligible for the Canada Education Savings Grant (CESG).

If a child’s education is one of your savings goals, be sure to take full advantage of federal grants to fuel the growth of your Registered Education Savings Plan (RESP).

Grant benefits

The Canada Education Savings Grant (CESG) can boost RESP contributions by 20% per year (up to $500 per beneficiary) to a lifetime maximum grant of $7,200 per beneficiary. Additional annual CESG payments may be available based on net family income.

Who’s eligible?

All beneficiaries up to age 17 are eligible to receive the CESG if they are Canadian residents and an RESP has been opened for them. To qualify for the CESG in 2009, your RESP contribution must be made by December 31, 2009.

Watch your savings grow

Use our online Education Savings Tool to calculate how much money can grow in an RESP, thanks to the CESG.