RESP vs CESG: Everything You Need To Know About!

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RESP stands for Registered Education Savings Plans and people usually get confused between RESP and CESG. CESG is the Canada Education Savings Grant which is offered by the government of Canada. RESP is a plan in which you can start saving for your child’s higher education by opening an account with Heritage Education Funds Inc For every dollar you put in RESP, the government will provide 30% grant (with max $500 per child per year). That is CESG – one of the grants which make the investment in RESP profitable, among the others.

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