Which of the following statements is true about Canada Education Savings Grants?

The statement regarding Canada Education Savings Grants being contingent on the beneficiary attending a post-secondary institution is accurate. This means that the grants are designed to encourage saving for a child's future education, providing additional funds that are accessible when the child enrolls in a recognized post-secondary program. The purpose of the grants is to support educational aspirations, aligning with the intention that they will facilitate access to higher education opportunities.

The other options do not reflect the structure or intent of the grants. For instance, while the grants assist families in building savings for education, there is no requirement for participants to repay the grants after a year, which is incorrectly stated in the first option. The grants are also not exclusively available to lower-income families; they are accessible to a wider demographic, thus ruling out the second option. Lastly, the grants are intended specifically for post-secondary education expenses and are not applicable for unrelated educational purposes, negating the fourth option.