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.