SAGES is paid out as part of an Educational Assistance Payment (EAP) to an eligible beneficiary who is enrolled in a qualifying educational program at a designated post-secondary institution.
Contact your RESP provider for more information or visit the Educational Assistance Payments (EAPs) section on the Canada Revenue Agency website for additional guidelines and tax implications.
SAGES can be used by the beneficiary toward furthering their education at either:
- A college, university, technical institute, or other educational institution in, or outside, of Canada; or
- An educational institution in Canada certified to provide courses that give a person occupational skills or improve a person’s occupational skills, such as an apprenticeship program.
Other options if the beneficiary does not continue their education:
- Leave the money in the RESP
- An RESP can be left open for up to 36 years. If the beneficiary doesn't continue his or her education after high school, you can keep the RESP open in case he or she decides to return to school at a later time. Check the rules of your RESP to find out if there are any more conditions.
- Have another beneficiary use the money
- If the beneficiary is part of an individual RESP and the eligible beneficiary decides not to attend post-secondary education, a sibling with an individual plan could use the SAGES grant amount. Otherwise, the SAGES grant must be returned to the Government of Saskatchewan.
- In a family RESP with eligible siblings, the eligible siblings may use the SAGES grant amount. For example, if a family plan has three beneficiaries and all beneficiaries are eligible brothers or sisters, each beneficiary may use the total SAGES grant as eligible beneficiaries.
- Close the RESP
- You can close the RESP, but all SAGES grant amounts must be returned to the Government of Saskatchewan.