Canada Education Savings Act

Canadian education support law

Canada Education Savings Act

Parliament of Canada

Long title

* An Act to provide financial assistance for post-secondary education savings

Citation| S.C. 2004, c. 26
Enacted by| Parliament of Canada
Assented to| 15 December 2004
Legislative history
First reading| 8 October 2004
Second reading| 14 October 2004
Third reading| 7 December 2004

The Canada Education Savings Act (French: Loi canadienne sur l’épargne-études, CESA) is an Act of the Parliament of Canada. It is intended to provide financial assistance for post-secondary education savings. The first version of the law was assented to on 15 December 2004. Most sections of the act entered into force on 1 July 2005.[1]

## Content

[edit]

The law organizes the incentives programs provided by the Government of Canada for post-secondary education savings. As of 2020 these programs include:

* The Canada Education Savings Grant (CESG) a matching contribution made by the government towards contributions made to a Registered Education Savings Plan ;
* The Canada Learning Bond (CLB) an additional grant available to low-income families.

## Legislative history

[edit]

The Canada Education Savings Act was adopted on third reading on 7 December 2004 by a large majority of 273 votes for (from both Liberal, Conservative and Bloc MPs) versus 19 against (the entire NDP caucus).[2]

Prior to the passage of the Canada Education Savings Act, dispositions administrating the CESG program were contained in the Department of Human Resources Development Act. CESG remained under the purview of Human Resources Development Canada pursuant to an Order in Council.[3]

## References

[edit]

1. ^ Order in Council 2005-0932 SI/2005-51. 17 May 2005.
2. ^ House of Commons Debates (Hansard Journal), 7 December 2004.
3. ^ Order in Council 2005-420. SI/2005-28. 6 April 2005.

## External links

[edit]

* Canada Education Savings Act, S.C. 2004, c. 26