Canada Education Savings Grant - CESG

AAA

DEFINITION of 'Canada Education Savings Grant - CESG'

A grant from the Government of Canada paid directly into a beneficiary's Registered Education Savings Plan (RESP). It adds 20% to the first $2,000 in contributions made into an RESP on behalf of an eligible beneficiary each year.

INVESTOPEDIA EXPLAINS 'Canada Education Savings Grant - CESG'

The CESG is an incentive program designed to encourage people to save for a child's education and to lessen the financial burden of a post-secondary education.

RELATED TERMS
  1. Nest Egg

    A substantial sum of money that has been saved or invested for ...
  2. Accumulated Income Payments - AIP

    Money withdrawn from a Canadian Registered Education Savings ...
  3. Coverdell Education Savings Account ...

    A tax-deferred trust account created by the U.S. government to ...
  4. Education IRA

    A savings plan for higher education. Parents and guardians are ...
  5. Abbreviated New Drug Submission ...

    A written request to Health Canada to obtain marketing approval ...
  6. Keystone XL Pipeline

    A proposed extension of the Keystone pipeline system that is ...
RELATED FAQS
  1. What country has the richest middle class?

    For decades, the United States boasted the honor of having the richest middle class. However, as of 2015, Canada has the ... Read Full Answer >>
  2. How does accrued interest work on student loans?

    Using private and federal student loans to finance a college education is a common funding strategy, but students are often ... Read Full Answer >>
  3. Where did the term Magna Cum Laude originate from and why is it used in academics?

    The Latin phrase magna cum laude translates to "with great praise." Literally, "magna" translates to "great," "cum" to "with" ... Read Full Answer >>
  4. How does someone earn the designation Magna Cum Laude?

    The term "magna cum laude" is an academic designation awarded to graduates of an educational institution who have maintained ... Read Full Answer >>
  5. How does investing in the banking sector differ between the U.S. and Canada?

    Banks in the U.S. and Canada offer different sets of pros and cons for investors. Shares of all Canadian banks are traded ... Read Full Answer >>
  6. What is the difference between Magnum Cum Laude and Summa Cum Laude?

    "Cum laude" is a Latin term that translates to “with honor” in English. "Magna cum laude" means “with great honor,” and "summa ... Read Full Answer >>
Related Articles
  1. Savings

    Don't Forget The Kids: Save For Their Education And Retirement

    Retirement and education financing are the two most important planning items for taxpayers.
  2. Savings

    Canadian Grants And Tax Credits Fund Education

    RESPs and other grants help parents save for post-secondary education for their children.
  3. Options & Futures

    Invest In Your Education With An RESP

    All Canadians should know the benefits of these flexible education savings plans.
  4. Personal Finance

    Masters Degree Vs. Work Experience: Which One Is More Valuable?

    Some argue that a master's degree only worsens student's financial situations, but future earnings data shows there can be a real financial benefit.
  5. Mutual Funds & ETFs

    How To Start A Hedge Fund In Canada

    Would-be hedge fund managers in Canada need to understand the laws and regulations that must be followed in order to start a fund in the country.
  6. Savings

    Best Ways To Save Money On College Textbooks

    Here are nine ways you can stretch your budget for college textbooks. No, wait – maybe make that ten.
  7. Savings

    5 Secrets You Didn't Know About A 529 Plan

    Start saving for college as soon as possible after your kids are born – and keep these details in mind.
  8. Chart Advisor

    Is Now the Time to Invest in North America?

    Bullish chart patterns across the North American markets suggest that now might actually be a wise time to allocate closer to home.
  9. Personal Finance

    SAT Vs. ACT: 6 Key Differences

    While there's some overlap in content, the ACT and SAT exams have significant differences that students should consider before choosing which to take.
  10. Personal Finance

    GMAT or GRE: Is One Better for MBA Applicants?

    In prior years, those applying to an MBA program had to take the GMAT exam. Today, a growing number of universities accept the GRE as well.

You May Also Like

Hot Definitions
  1. Fixed-Income Arbitrage

    An investment strategy that attempts to profit from arbitrage opportunities in interest rate securities. When using a fixed-income ...
  2. Venture-Capital-Backed IPO

    The selling to the public of shares in a company that has previously been funded primarily by private investors. The alternative ...
  3. Merger Arbitrage

    A hedge fund strategy in which the stocks of two merging companies are simultaneously bought and sold to create a riskless ...
  4. Market Failure

    An economic term that encompasses a situation where, in any given market, the quantity of a product demanded by consumers ...
  5. Unsystematic Risk

    Company or industry specific risk that is inherent in each investment. The amount of unsystematic risk can be reduced through ...
  6. Security Market Line - SML

    A line that graphs the systematic, or market, risk versus return of the whole market at a certain time and shows all risky ...
Trading Center