What is the Canada Education Savings Grant?

The Canada Education Savings Grant (CESG) is an initiative introduced in the 1998 Federal Budget to encourage families to save towards their children's post-secondary education. The government will provide a grant of 20% on the first $2,000 of annual contributions made to a Registered Education Savings Plan (RESP) for children up to age 18 ($400 per child year, $7,200 lifetime maximum). The grant is provided directly to the RESP firm, like Heritage Education Funds, to be invested in the contributor's plan.

To be eligible to receive the CESG your child needs a Social Insurance Number and contributions must be made into an RESP. It is suggested that parents and grandparents who are presently contributing into RESPs contact an RESP expert to ensure their child's Social Insurance Number has been properly registered and their account is receiving CESG. For more information on RESPs and CESG please visit www.heritageresp.com or www.hrdc-drhc.gc.ca/cesg.