RESP Calculator
Calculate your Registered Education Savings Plan growth, CESG government grants ($500/year), and projected post-secondary education fund.
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How to use this calculator
- 1
Contribute at least $2,500/year to maximize the $500 basic CESG grant (20% match on first $2,500).
- 2
Lower-income families get additional CESG: up to $100/year (income below $58,523) or $50/year (income $58,523–$117,045).
- 3
Lifetime CESG limit is $7,200 per child — reached after contributing $2,500/year for 14-15 years.
- 4
RESP lifetime contribution limit is $50,000 per beneficiary — no annual limit beyond CESG optimization.
Frequently asked questions
How does this tool calculate the grant?
This tool uses a 20% match on the first $2,500 contributed each year, which is up to $500, plus an additional 10% (middle income) or 20% (low income) on the first $500 contributed. That makes the full-year grant $500, $550 or $600 depending on the income band you select. The grant is capped at the lifetime figure of $7,200 built into the tool, and nothing is added for contributions above $2,500 in a year.
Which years of contributions are modelled?
The tool contributes once a year at the start of each year from the child’s current age up to age 16, which is 17 minus the age you enter, rounded up. Growth is then compounded until age 18. A 17-year-old gets no new contributions and the current balance simply grows one more year.
Is the lifetime contribution limit applied?
Yes. New contributions stop once they reach $50,000. Your current balance is not netted against that figure, because the tool cannot separate contributions from growth and grants. With $5,000 a year from birth at 0% growth, contributions stop at $50,000, grants total $5,000 and the projected balance is $55,000.
What are the income bands based on?
The three family net income bands in the dropdown, $58,523 and $117,045, are the thresholds labelled in the tool. They are the 2026 figures built into this tool (up from $57,375 and $114,750 in 2025), they are indexed each year, the tool does not update itself, and the bands used for families with four or more children differ. Select the band you believe applies and confirm it with the CESP programme or your provider.
What does it not model?
Unused grant room from missed years, provincial education grants, the Canada Learning Bond, fees, taxes on withdrawals, and what happens if the child does not continue to post-secondary education are outside the tool. Growth is a constant annual return, so the output is a projection and not a forecast.
How are blank, zero and extreme values handled?
The return box starts at 6%; clearing it counts as 0, and a 0% return is respected. A cleared contribution, balance or age also counts as 0, and negative numbers are treated as zero. An annual contribution below $500 earns the match on the amount actually contributed, so $500 a year in the low-income band earns $200 a year, not $600.
Are the grant and limit figures current?
They are the figures built into this tool: $2,500 matched at 20%, the extra amounts on the first $500, a $7,200 lifetime grant and a $50,000 contribution limit. Federal budgets can change them and the tool does not update itself. CRA, your provider or a qualified adviser governs the actual rules.
RESP calculator — grant, contributions and projected education savings at 18
How the projection runs
The calculator loops through each year from the child’s current age up to 16, adding your contribution and the grant for that contribution before applying the annual return. It stops grants at the lifetime limit and contributions at the lifetime contribution limit. After the last contribution year, the balance continues to grow until age 18, so a younger child gets many more compounding years than an older one. The results are your new contributions, grants, growth and the total at 18.
Grant rates in the 2026 figures built into this tool
The table shows what the tool pays on a full year of $2,500 or more. The extra amount is a percentage of the first $500 contributed, so it falls with smaller contributions.
| Income band option | Basic match | Extra on first $500 | Full-year grant |
|---|---|---|---|
| Above $117,045 | 20% of first $2,500 ($500) | None | $500 |
| $58,523 to $117,045 | 20% of first $2,500 ($500) | 10% ($50) | $550 |
| Below $58,523 | 20% of first $2,500 ($500) | 20% ($100) | $600 |
Worked example: newborn versus age two
With the default inputs of a 2-year-old, $2,500 a year, a 6% return and the basic band, the tool models 15 years of contributions, $37,500 in total, and reaches the $7,200 grant limit before the last year. The projected balance at 18 is $78,122, of which $33,422 is growth. A newborn in the low-income band gets $600 a year, models 17 years and receives $7,200 in grants. That child ends with $94,470 from $42,500 of contributions. The lifetime grant is the same, but the earlier start adds compounding.
Cases that expose the limits
A smaller contribution earns a smaller grant: $500 a year for a 2-year-old in the low-income band earns $200 a year, $3,000 over 15 years, and the balance at 18 is $18,307. A higher contribution hits the contribution limit: $5,000 a year from birth at 0% growth stops at $50,000 of contributions and earns only $5,000 in grants, because grants stop when contributions stop.
| Inputs | New contributions | Grants | Growth | Balance at 18 |
|---|---|---|---|---|
| Age 2, $2,500, 6%, basic | $37,500 | $7,200 | $33,422 | $78,122 |
| Age 0, $2,500, 6%, low income | $42,500 | $7,200 | $44,770 | $94,470 |
| Age 8, $1,000, $5,000 start, 4%, middle | $9,000 | $2,250 | $5,459 | $21,709 |
| Age 0, $5,000, 0%, basic | $50,000 | $5,000 | $0 | $55,000 |
What to confirm before using the numbers
The 2026 income thresholds, the grant rates, the $7,200 lifetime grant and the $50,000 contribution limit are all built into the tool and are not updated automatically. Federal budgets change these rules, so your RESP provider, CRA or a qualified adviser governs your actual entitlement.
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Results are estimates for informational purposes only and do not constitute professional financial, medical, legal, or technical advice. Read full disclaimer →