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Thursday, August 6, 2009

CESP - Canada Education Savings Program

The Government of Canada offers two incentives to encourage parents, family, and friends to save for a child’s post-secondary education.
CESG - Canada Education Savings GrantBy applying for the CESG, up to $7,200 can be directly deposited by the Federal Government into your RESP. The Canada Education Savings Grant section offers information about eligibility requirements for the grant as well as how to use it when the beneficiary enrolls at a post-secondary institution.
CLB - Canada Learning BondCLB is available to children born after December 31st, 2003 if an RESP has been opened on their behalf. Browse the Canada Learning Bond section to find out who is eligible, how to apply, and how much the Government of Canada will contribute to your RESP. http://www.hrsdc.gc.ca/eng/learning/education_savings/index.shtml

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