Investing for Post-Secondary Education

Grants & Incentives

Canada Education Savings Grant (CESG) and Additional Canada Education Savings Grant (ACESG)

The government will match 20% of the first $2,500 in contributions made on behalf of every Canadian child. That’s $500 in grant.

Carry-Forward Room: Unused contribution room carries forward. If you didn’t contribute last year, you can contribute as much as $5,000 this year to attract $1,000 of grant.

Lifetime Maximum: A beneficiary can receive a lifetime maximum of $7,200 CESG. And most children are eligible for grant until the calendar year in which they turn 18. (Refer to the age 16 & 17 rule, below.)

Modest-income families: Families with modest household incomes may qualify for additional grant – or ACESG. Increased grant matching rates of either 10% or 20% are applied to the first $500 of annual contributions. Income thresholds change every year. Visit cra.gc.ca for the latest requirements.

Age 16 & 17 rule

Beneficiaries aged 16 or older will not be eligible for grant unless:

They’ve received a minimum of $2,000 of contributions (that haven’t been withdrawn) before January 1st of the year they turn 16.

They’ve received $100 of annual contributions (that haven’t been withdrawn) in any four years before Jan 1st of the year they turn 16.

How to apply - Mail or fax us a completed Application for Basic and Additional CESG & CLB

Canada Learning Bond (CLB)

No contributions are needed to attract CLB.

Families who are already receiving the Canada Child Benefit can receive a one-time grant of $500.

Additional grants of $100 a year are available every year the family remains eligible until the beneficiary turns 15. Altogether, a beneficiary may receive up to $2,000 in CLB.

How to apply - Mail or fax us a completed Application for Basic and Additional CESG & CLB

Tip

Don’t wait to apply. Submit your application as soon as you know a beneficiary is eligible.

Québec Education Savings Incentive (QESI)

QESI can add up to a lifetime maximum of $3,600 for every beneficiary who lives in Québec.

Revenu Québec awards 10% on the first $2,500 in annual contributions. This incentive offers the same carry-forward rule as CESG: If a beneficiary has enough carry-forward room, you can contribute as much as $5,000 in a single year to qualify for the 10% match. Beneficiaries from middle-to-lower-income families may qualify for increased rates on the first $500 of annual contributions.

Beneficiaries must be Québec residents when they withdraw QESI from their RESPs.

How to apply - no application form is required. We’ll apply on behalf of beneficiaries who live in Québec.

More information

CESG - Learn more about Canada Education Savings Grant, including who is eligible and how to apply

CLB - Learn more about Canada Learning Bond, including who is eligible and how to apply

BRITISH COLUMBIA TRAINING AND EDUCATION SAVINGS GRANT (BCTESG)

No contributions are needed to attract the BCTESG

BCTESG is a one-time grant of $1,200 for BC beneficiaries born on or after January 1, 2006. Eligible clients can apply for this grant within a three year window after the beneficiary’s sixth birthday. In order to be eligible to receive the grant, beneficiaries and their custodial parents or legal guardian must be BC residents at the time of the application.

How to apply – Mail or fax us a completed Annex D

SASKATCHEWAN ADVANTAGE GRANT FOR EDUCATION SAVINGS (SAGES)

Eligible beneficiaries will receive a 10% match on the first $2,500 of contributions each year. The maximum lifetime SAGES a beneficiary can receive is $4,500. This incentive offers the same carry-forward rule as CESG: If a beneficiary has enough carry-forward room, you can contribute as much as $5000 in a single year to qualify for the 10% match. Beneficiaries must be a resident of Saskatchewan at the time of the contribution to qualify for the grant.

How to apply – Mail or fax us a completed Annex C