Growing Your Savings With Grants
The registered education savings plans offered by Knowledge First Financial are eligible for the following government grants1. And we take an active role in helping you receive the grants available to you. It’s part of our service in getting you the most out of your education savings.
| Program | Family Income Level-Deposits in 2015 | Amount | Effective Date |
|---|---|---|---|
| CESG (Canada Education Savings Grant) | Any | 20% on the first $2,500 contributed per year. Max. $500 per child per year and $7,200 lifetime limit per child. |
January 1, 1998 |
| Additional CESG 30% | $45,282 – $90,563* | 30% on the first $500 per year, 20% on next $2,000. Max. $550 per child per year and $7,200 lifetime limit per child. |
January 1, 2005 |
| Additional CESG 40% | Less than $45,282 | 40% on the first $500 per year, 20% on next $2,000. Max. $600 per child per year and $7,200 lifetime limit per child. |
January 1, 2005 |
| Canada Learning Bond | Those qualifying for National Child Benefit Supplement | $500 initial grant into RESP, and $100 per year until age 15. Total $2,000 lifetime per child. | January 1, 2005, for children born after December 31, 2003. |
| British Columbia Training Education Savings Grant (BCTESG) | Any | One-time grant of $1,200 available upon child’s 6th birthday, up until the day before their 9th birthday. Deadline to apply for children born in 2007 or 2008 is August 14, 2018. |
December 2015 |
| QESI (Quebec Education Savings Incentive) | Any | 10% on first $2,500 deposited per year. Max. $250 per child per year and $3,600 lifetime per child. |
February 21, 2007 |
| Additional QESI 15% | $42,391 – $84,780* | 15% on first $500 deposited per year, 10% on the next $2,000. Max. $275 per child per year and $3,600 lifetime per child. |
February 21, 2007 |
| Additional QESI 20% | Less than $42,391 | 20% on first $500 deposited per year, 10% on the next $2,000. Max. $300 per child per year and $3,600 lifetime per child. |
February 21, 2007 |
| Saskatchewan Advantage Grant for Education Savings (SAGES) | Any | 10% of the first $2,500 contributed each yeah, to a maximum of $250. In addition to above, 10% up to $250 per year of unclaimed SAGES on contributions going back to January 1, 2013. Lifetime maximum of $4,500. |
December 2015 |
- Government grants are subject to the guidelines of Human Resources and Skills Development Canada, the Province of Alberta and Revenu Quebec. ↩
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