The sooner you start a Registered Education Savings Plan (RESP) for your child, the sooner you will be rewarded by the federal and some provincial governments (depending on where you live) for taking the steps to plan and think ahead. Here are 3 ways you can get a federal government top up on your child’s RESP.

Canada Education Savings Grant (CESG)

All Canadians are eligible for the basic CESG. It matches 20% of the first $2,500 you contribute to your child’s RESP each year up to a lifetime maximum of $7,200.

Additional CESG (ACESG)

Depending on your family income, your child may be entitled to an additional $50 t0 $100 each year when you put $500 into an RESP.

Canada Learning Bond (CLB)

Families with lower income can receive $500 in the first year and an additional $100 per year for each year they qualify until their child turns 15. This could add up to an additional $2,000 in grants towards their child’s RESP.

The only way your child can benefit from government grants is if you set up an RESP for them. Did you know a recent Statistics Canada report has shown youth who had access to an RESP were more likely to subsequently enroll in post-secondary studies than those who did not have an RESP.

Start contributing now to your child’s RESP and enjoy the benefits of government grants.


There’s no better feeling than knowing you can give your child an education.

The CST INSPIRE A DREAM contest gives you an opportunity to start saving. With a grand total of $30,000 in CST RESPs to be won. You can enter today to win one of 12 prizes of $2,500 towards a CST RESP this year.

Enter Contest

†Statistics Canada study from July 2020, “Why are Lower-income Parents Less Likely to Open an RESP Account? The Roles of Literacy, Education and Wealth”.