Canada Education Savings Grant - CESG
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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.
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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.
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All Canadians should know the benefits of these flexible education savings plans.
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RESPs and other grants help parents save for post-secondary education for their children.
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Retirement and education financing are the two most important planning items for taxpayers.
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