Every child with an RESP is eligible for the Canadian Education Savings Grant (or CESG) which has a maximum payout of $7,200. The CESG is calculated and received based on personal contributions. The government will match 20% of your contributions every year, with a maximum of $500 annually. This means that for every dollar put into your RESP, the government will contribute an additional 20%!

This may be in addition to collecting the Canada Learning Bond (if eligible).

For more information contact your financial institution or RESP provider. Additional information can also be found at https://www.canada.ca/en/services/benefits/education/education-savings/savings-grant.html

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