Can grants be carried forward?

We all know that some years can be financially tighter than others. If you missed the maximum contribution one year, you can increase your payment in later years, and get the grant money you missed out on to a maximum of $1,000 per year.

If you haven’t contributed to an RESP, or have contributed less than $2,500 a year, then you can carry forward Canada Education Savings Grant (CESG) contribution room to future years. But, keep in mind that you can’t get more than $1,000 in CESGs in any given year.

But, there are rules about how the grants are carried forward. If you can’t make a payment one or more years, speak to your RESP provider.