RESP Calculator
Calculate your Registered Education Savings Plan growth with CESG government matching grants.
2026 Tax YearData stays on your deviceUpdated Apr 1, 2026
$
$2,500/yr = maximum CESG ($500/yr grant)
1 yr18 yrs
Free Government Money
CESG adds 20% on your first $2,500/yr — that is $500/yr in free grants, up to $7,200 lifetime per child.
Projected RESP Value
$96,213.92
Your Contributions
$45,000.00
Government Grants (CESG)
$7,200.00
Free money from the government
Investment Growth
$44,013.92
Annual CESG
$500.00
Per year (max $500)
Savings Breakdown
47%
46%
ContributionsCESG GrantsGrowth
Frequently Asked Questions
What is the CESG?
The Canada Education Savings Grant (CESG) is a government grant that matches 20% of your annual RESP contributions, up to $500 per year per child ($7,200 lifetime maximum). To maximize the CESG, contribute at least $2,500 per year.
What is the RESP contribution limit?
There is no annual limit on RESP contributions, but the lifetime limit is $50,000 per beneficiary. However, the CESG only matches the first $2,500 per year.
What happens if my child does not attend post-secondary?
You can transfer the RESP to another beneficiary (sibling), transfer up to $50,000 of investment growth to your RRSP (if you have room), or close the plan. Contributions are returned tax-free. Growth is taxed plus a 20% penalty if not used for education.
When should I start contributing?
The earlier the better due to compound growth. Starting at birth and contributing $2,500/year maximizes the $7,200 CESG by age 14, giving the grants more years to grow.
Official Data Sources
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Built and reviewed by Konstantin Iakovlev · Data from CRA, CMHC, Bank of Canada · MethodologyDisclaimer: This calculator provides estimates based on publicly available data from CRA and other government sources. It does not constitute financial advice. Consult a qualified advisor for decisions about your specific situation.
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