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🎓 Education Savings

RESP Calculator Canada 2026

Calculate your child's education savings including the government's 20% Canada Education Savings Grant (CESG) — free money you shouldn't leave on the table.

Your RESP Details

$
Contribute $2,500/year to maximize the $500 CESG grant
$
3
years old
Newborn17 yrs
Annual CESG Grant
$500
20% on first $2,500 contributed · Max $500/year
Calculate RESP Growth
Projected Education Fund
$0
Total available at age 18
Your Contributions
$0
CESG Grants
$0
Investment Growth
$0

Year-by-Year Growth

RESP Rules & CESG Details

The RESP is one of the best savings vehicles in Canada — the government matches 20% of your contributions for free.

📋 RESP Basics

  • No annual contribution limit
  • Lifetime limit: $50,000 per beneficiary
  • Account stays open for 35 years
  • Can be used for any post-secondary education in Canada or abroad
  • Contribute until end of year the child turns 17

🎁 Canada Education Savings Grant

  • Government adds 20% on first $2,500/year
  • Maximum CESG per year: $500
  • Lifetime CESG limit: $7,200
  • Unused CESG room carries forward
  • Lower-income families may qualify for an additional 10–20%

📚 When Funds Are Withdrawn

  • Your contributions withdrawn tax-free at any time
  • Grants and growth are taxed in the student's hands (usually very low)
  • If child doesn't attend school, grants returned to government
  • Up to $50,000 of growth can be rolled into your RRSP if unused

CESG Grant Table

Annual ContributionCESG Grant (20%)Your Net CostLifetime Max
$1,000/year$200/year$800 net$7,200 total grants
$2,500/year ✅$500/year (maximum)$2,000 net$7,200 total grants
$5,000/year$500/year (capped)$4,500 net$7,200 total grants
$50,000 lump sum$500/year over 14+ yearsVaries$7,200 total grants