RESP Calculator
A Registered Education Savings Plan (RESP) helps Canadians save for a child's post-secondary education. The government adds 20% CESG on the first $2,500 contributed each year (up to $500/year, $7,200 lifetime). Low-income families may qualify for Additional CESG (10-20% on the first $500) and the Canada Learning Bond. Use this calculator to see how much your RESP could grow.
How the RESP works
The RESP is a tax-deferred education savings account. Contributions are made with after-tax dollars and grow tax-free until withdrawn. The Canada Education Savings Grant (CESG) adds 20% on annual contributions up to $2,500 per beneficiary. For families with net income below $55,867 (2025), an Additional CESG of 10-20% applies on the first $500 contributed. The lifetime CESG maximum is $7,200 per child. Educational Assistance Payments (EAPs) — the growth + grants withdrawn for school — are taxed in the student's hands (typically little to no tax). Contributions can be withdrawn tax-free at any time.
RESP Calculator 2026 — Registered Education Savings Plan Canada
Free RESP (Registered Education Savings Plan) calculator for Canada. Calculate savings with CESG grants, additional CESG, and projected education funds. Includes 20% basic CESG on the first $2,500 contributed per year.
RESP Savings Growth
RESP Summary
Starting at age 0 with $200/month for 17 years, your RESP grows to $78,180. The government adds $8,050 in CESG grants — essentially free money for your child's education.
Your income bracket qualifies for Additional CESG — maximizing your annual grants.
Year-by-Year Breakdown
| Child Age | Total Savings | Contributions | Grants Received |
|---|---|---|---|
| 1 | $3,100 | $2,400 | $580 |
| 2 | $6,355 | $4,800 | $1,160 |
| 3 | $9,773 | $7,200 | $1,740 |
| 4 | $13,361 | $9,600 | $2,320 |
| 5 | $17,129 | $12,000 | $2,900 |
| 6 | $21,086 | $14,400 | $3,480 |
| 7 | $25,240 | $16,800 | $4,060 |
| 8 | $29,602 | $19,200 | $4,640 |
| 9 | $34,182 | $21,600 | $5,220 |
| 10 | $38,991 | $24,000 | $5,800 |
| 11 | $44,041 | $26,400 | $6,380 |
| 12 | $49,343 | $28,800 | $6,960 |
| 13 | $54,910 | $31,200 | $7,540 |
| 14 | $60,536 | $33,600 | $7,900 |
| 15 | $66,133 | $36,000 | $7,950 |
| 16 | $72,009 | $38,400 | $8,000 |
| 17 | $78,180 | $40,800 | $8,050 |