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Maximize Your RESP Savings with Government Grants

Several grants provided by the government match your RESP contributions to maximize your savings and offer support to families with modest incomes. Making the most of these grants is a great strategy along your savings journey. We’re here to show you how.

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Grants that May Be Available to You

Canada Education Savings Grant (CESG)

This grant is provided by the Canadian government and is the cornerstone of contribution matching. The government matches 20% of your contributions up to maximum grant amounts of $500/year and $7,200 over the lifespan of your RESP. Once you’ve set up your Embark Student Plan, we’ll automatically apply for this grant on your behalf.

If you started late or previously contributed less than $2,500/year, you can carry forward those missed amounts to current or future years. Read more about the CESG and carry forward room.

Additional CESG

Lower and middle-income families may qualify for a slightly modified version of the CESG, which provides an extra 10% or 20% in grants to the first $500 of annual contributions each year. Here’s a helpful overview.

See how grants can add up to support your child’s education

Net Family Income$50,197 or lessMore than $50,197 to $100,392Over $100,392

CESG – Paid on first $2500 on annual contribution

20% = $500

20% = $500

20% = $500

ACESG – Paid on first $500 on annual contribution

20% = $100

10% = $50

0% = $0

Our Specialists will ensure you get all the grants you’re entitled to.

British Columbia Training and Education Savings Grant (BCTESG)

You can add a one-time, $1,200 government grant to your RESP if you live in BC. Simply apply for this grant when your child is between six- and nine-years old, and even if you move out of province, you can still keep the payment.

Applying is easy. We can help.

Contact us today so we can help you with the process and add the $1,200 to your Embark Student Plan.

Our specialists will ensure you get all the grants you’re entitled to.

Quebec Education Savings Incentive (QESI)

If your child is a resident of Quebec, you could earn up to $3,600/child as part of the Quebec Education Savings Incentive (QESI). This grant is provided as a refundable tax credit from Revenu Québec that is deposited directly into your RESP.

If eligible, you will receive a grant equalling 10% of your annual RESP contributions – up to $250 in grants per year, with a lifetime maximum of $3,600 per child.

Additional QESI

Depending on your income, you can also earn an extra 5% to 10% off the first $500 you contribute each year. This means eligible low- and middle-income families could also receive an additional $50 per year, calculated using net family income. This is in addition to the standard QESI government contributions. We can help you learn more about this.

Our specialists will ensure you get all the grants you’re entitled to.

Canada Learning Bond (CLB)

For families with modest incomes, the CLB is based on net family income and the number of children in a family. This bond provides a one-time initial grant payment of $500. From there, the government will automatically add $100 to your RESP for each year of eligibility until the child is 15-years old. That could mean as much as $2,000 in additional government grants. We can help you learn more about this.

Special requirements for 18-20 year olds

This age group may still be eligible to receive the CLB and get up to $2,000 into an RESP. The amount received depends on the number of years they were eligible to receive the CLB before turning 15. We can help you learn more about this.

How the Canada Learning Bond is Calculated

Number of childrenAdjusted net family income for the 2022-2023 year

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Our specialists will ensure you get all the grants you’re entitled to.

Frequently Asked Questions

Create Your Tomorrow

You and your child are moving forward together. Every step gets you closer to everything you hope for and everything they can be. It’s a destination where needs and dreams align, supported by your plans for a post-secondary education. We’re committed to your success and want to show you how.

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