Canada Education Savings Grant - CESG

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.

BREAKING DOWN '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.

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