Helping you provide better education to your children

canadianLIC

What are the government grants available for an RESP?
The Canada Education Savings Grant (CESG) is a grant from the Government of Canada that is paid directly into the child’s Registered Education Savings Plan (RESP). In this grant the government adds 20% to the first $2,500 that is made into a RESP on behalf of an eligible beneficiary each year. For more information, speak to a member of our team now. We are here to help you with all your requirements.

CLB Canada Learning Bond
This grant is offered to assist low-income families. Here $500 deposited at plan opening by the government whether or not the parent makes contributions. Also an additional $100 deposited every year until the beneficiary’s 15th birthday.

QESI Quebec Education Savings Incentive
Every child in Quebec is entitled to the basic 10% QESI. Here the grant money is deposited directly into your child’s RESP account. It has an annual limit of $250 per child. QESI is offered to modest and middle income families. The Grant money is deposited directly into your child’s RESP account.

Eligibility for the Canada Education Savings Grant

  • In order to be eligible for the grant, parents or grandparents must contribute to a child’s RESP prior to the end of the calendar year in which the child turns 15 years
  • The child must be a Canadian resident
  • It is important the child must have a valid Social Insurance Number
  • There must be a RESP account in the child’s name
  • It is important that you request the government for the matching contributions

The Government of Canada helps and contributes towards your effort to save. It deposits substantial grants directly into your RESP.