Project how much a Registered Education Savings Plan (RESP) could hold when your child turns 18. The government adds a 20% Canada Education Savings Grant on the first $2,500 you contribute each year, up to $7,200 per child. Saving $2,500 a year from birth at 5% grows to about $86,597, including the full $7,200 in grants.
RESP Calculator
Contributions, CESG, Canada Learning Bond and growth to age 18 · Updated October 12, 2026
- Your contributions
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- Canada Education Savings Grant
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- Additional CESG
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- Canada Learning Bond
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- Investment growth
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Assumes no earlier contributions, deposits at the start of each year until the end of the year the child turns 17, and a steady return.
Government money in an RESP
| Program | How much | Limits |
|---|---|---|
| Canada Education Savings Grant (CESG) | 20% of the first $2,500 a year = $500 | Up to $1,000 a year with unused room; $7,200 lifetime |
| Additional CESG, family income up to $58,523 | Extra 20% on the first $500 = $100 | Counts toward the $7,200 |
| Additional CESG, $58,523 to $117,045 | Extra 10% on the first $500 = $50 | Counts toward the $7,200 |
| Canada Learning Bond (lower-income families) | $500 the first year, then $100 a year | Up to $2,000; no contribution needed |
Examples
| Start age | Contribution | Grants and bonds | Value at 18 (5% a year) |
|---|---|---|---|
| Birth | $2,500 a year | $7,200 CESG | $86,597 |
| Age 5 | $2,500 a year | $6,500 CESG | $55,796 |
| Age 10 | $5,000 a year (catching up) | $7,200 CESG | $59,319 |
| Birth, lower income with CLB | $1,200 a year | $4,320 CESG + $1,800 additional + $2,000 CLB | $49,191 |
Key rules
- There is no annual contribution limit, but the lifetime limit is $50,000 per child.
- Grant room builds up at $500 a year from birth, so you can catch up later, but only $1,000 of CESG is paid per year.
- Grants are paid until the end of the year the child turns 17. For ages 16 and 17, the RESP must have had at least $2,000 of contributions, or $100 a year in any 4 years, before the end of the year the child turned 15.
- When the money is used for school, contributions come back tax-free; grants and growth are taxed in the student’s hands, usually at a low rate.
FAQ
What happens if my child doesn’t go to school?
You get your contributions back tax-free, the grants are returned to the government, and the growth can be moved to your RRSP (up to $50,000 if you have room) or withdrawn as taxable income plus a 20% penalty tax.
Can grandparents open an RESP?
Yes. Anyone can open an individual plan for a child, but grants per child are the same no matter how many RESPs they have.
Related calculators
- Canada Child Benefit CalculatorMonthly CCB payments
- TFSA Contribution Room CalculatorAnother tax-free way to save
Sources
Figures current as of October 12, 2026
Each formula is checked against a separate test sheet with at least three worked examples. Results are estimates based on the numbers you enter and the published rules; your actual figures may differ. This is general information, not financial or tax advice.
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