RESP Calculator
Calculate how your Registered Education Savings Plan will grow with CESG government grants. See how the 20% Canada Education Savings Grant match boosts your education savings over time.
RESP Details
Grant Eligibility
Family net income drives the Additional CESG top-up on the first $500 contributed each year.
Contributing above $2,500/yr uses catch-up room (max $1,000 CESG/yr).
Prior RESP Activity (optional)
RESP Summary
Year-by-Year Projection
| Year | Age | Contribution | CESG | CLB | Growth | Balance |
|---|---|---|---|---|---|---|
| 1 | 0 | $2,500 | $550 | $0 | $153 | $3,203 |
| 2 | 1 | $2,500 | $550 | $0 | $313 | $6,565 |
| 3 | 2 | $2,500 | $550 | $0 | $481 | $10,096 |
| 4 | 3 | $2,500 | $550 | $0 | $657 | $13,803 |
| 5 | 4 | $2,500 | $550 | $0 | $843 | $17,696 |
| 6 | 5 | $2,500 | $550 | $0 | $1,037 | $21,783 |
| 7 | 6 | $2,500 | $550 | $0 | $1,242 | $26,075 |
| 8 | 7 | $2,500 | $550 | $0 | $1,456 | $30,581 |
| 9 | 8 | $2,500 | $550 | $0 | $1,682 | $35,313 |
| 10 | 9 | $2,500 | $550 | $0 | $1,918 | $40,281 |
| 11 | 10 | $2,500 | $550 | $0 | $2,167 | $45,497 |
| 12 | 11 | $2,500 | $550 | $0 | $2,427 | $50,975 |
| 13 | 12 | $2,500 | $550 | $0 | $2,701 | $56,726 |
| 14 | 13 | $2,500 | $50 | $0 | $2,964 | $62,240 |
| 15 | 14 | $2,500 | $0 | $0 | $3,237 | $67,977 |
| 16 | 15 | $2,500 | $0 | $0 | $3,524 | $74,000 |
| 17 | 16 | $2,500 | $0 | $0 | $3,825 | $80,325 |
| 18 | 17 | $2,500 | $0 | $0 | $4,141 | $86,967 |
Basic CESG: 20% match on the first $2,500 contributed per child per year, lifetime max $7,200. Unused room carries forward — up to $1,000 of CESG per year (on $5,000 of contributions) when catching up.
Additional CESG: Extra 10% or 20% on the first $500 contributed, based on adjusted family net income. 2026 thresholds: +20% ≤$58,523, +10% ≤$117,045 (indexed to the federal lowest tax bracket annually).
Canada Learning Bond: Up to $2,000 lifetime for children from low-income families born on or after Jan 1, 2004 — $500 first year + $100/yr through age 15. No contribution required; independent of the $50,000 contribution cap and the $7,200 CESG cap.
Contributions are not tax-deductible, but investment growth is tax-sheltered until withdrawal as an Educational Assistance Payment (EAP), then taxed in the student's hands.
How the RESP Works
A Registered Education Savings Plan (RESP) is a government-registered account designed to help families save for a child's post-secondary education. All investment growth inside an RESP — including interest, dividends, and capital gains — is tax-sheltered until withdrawn, at which point it is taxed in the student's hands (typically at a very low rate).
Canada Education Savings Grant (CESG): The federal government matches 20% of the first $2,500 contributed per year, adding up to $500 annually and up to $7,200 over the lifetime of the plan. Unused CESG entitlements can be carried forward, allowing catch-up grants of up to $1,000 in a single year.
Canada Learning Bond (CLB): Low-income families may also qualify for the Canada Learning Bond, which provides up to $2,000 in government contributions with no personal contribution required.
Withdrawals: When your child enrols in a qualifying post-secondary program, Educational Assistance Payments (EAPs) — which include grants and investment growth — are taxable in the student's hands. Your original contributions are returned to you tax-free. Students with little or no income typically pay little to no tax on these withdrawals.
Related savings tools
Sources
Last updated April 2026. Reflects 2026 tax year rates.