Canada education savings

See what an RESP could grow into.

Project contributions, the basic Canada Education Savings Grant, and investment growth through the year your child turns 17.

20% basic CESG match On the first $2,500 contributed annually, up to $500 a year and $7,200 over the beneficiary’s lifetime.

Your assumptions

Amounts are in Canadian dollars. Change any value, then calculate.

$
%
Model assumption: each contribution and basic CESG payment enter at the start of the year, then earn the selected annual return.

Projected RESP value at the end of age 17

$0

Based on annual deposits and a steady return.

Your contributions$0
Basic CESG received$0
Estimated growth$0

Where the balance comes from

at age 17
Contributions Basic CESG Growth
Other federal help is not included. Lower-income families may qualify for Additional CESG and the Canada Learning Bond (CLB). CLB can be available without personal contributions. Ask your RESP promoter to apply for every benefit for which the beneficiary is eligible.

Year-by-year projection

Follow the estimate from the current age through 17. Contributions stop after the number of years selected; the existing balance continues to compound.

Child’s ageContributionBasic CESGGrowthYear-end balance

This simplified model assumes no prior RESP contributions or CESG and caps projected contributions at the $50,000 lifetime limit. It applies only the standard 20% basic CESG on up to $2,500 of annual contributions, subject to the $7,200 lifetime maximum. For contributions at ages 16 and 17, it applies the federal eligibility test using only the contribution history shown in this projection: at least $2,000 contributed before the end of age 15, or at least $100 contributed in four earlier years. It does not model unused grant-room catch-up, Additional CESG, CLB, provincial incentives, fees, taxes, withdrawals, or changing investment returns.

A practical RESP guide

The calculator gives you a planning estimate. The plan structure, grant rules, investment costs, and withdrawal rules determine what happens in real life.

How RESPs and CESG work

An RESP is a registered account for post-secondary education. Contributions are not tax-deductible, but investment income can grow sheltered inside the plan. The basic CESG adds 20% to the first $2,500 contributed each year—normally up to $500 annually—until the $7,200 lifetime CESG limit is reached. Contributions in the year a beneficiary turns 16 or 17 face prior-contribution conditions.

Contribution strategies

  • Contributing $2,500 in a year normally earns the full $500 basic CESG for that year.
  • Starting earlier gives each deposit more time to compound, even when the annual amount is smaller.
  • Unused basic CESG room may be carried forward; in a catch-up year, up to $1,000 of basic CESG may be available. This calculator intentionally uses the standard $500 annual limit.
  • Track contributions across every RESP for the same beneficiary: the lifetime contribution limit is $50,000 per beneficiary.

If grants go unused

If the beneficiary does not pursue qualifying post-secondary education, remaining CESG and CLB generally must be returned to the government. Your original contributions can generally be returned tax-free. Investment earnings may be paid as an accumulated income payment when conditions are met, transferred in certain cases, or taxed. Confirm the available path with the plan promoter before closing or withdrawing.

Group vs. self-directed RESPs

A self-directed RESP gives the subscriber control over investments and contribution timing, along with responsibility for costs and risk. Group scholarship plans can have fixed contribution schedules, specific fees, and detailed rules for stopping or changing contributions. Compare the prospectus, withdrawal rules, sales charges, investment options, and transfer policy—not only the projected return.

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RESP questions, answered

Short answers to the rules that most affect this estimate.

How much do I contribute to get the maximum basic CESG each year?

A $2,500 annual contribution normally attracts the maximum $500 basic CESG for that year. If the beneficiary has unused grant room from prior years, a larger contribution may attract up to $1,000 of basic CESG in one year, subject to the lifetime maximum and eligibility rules.

What is the lifetime CESG limit?

The lifetime CESG limit is $7,200 per beneficiary across all RESPs. That total includes basic and Additional CESG.

Is there an annual RESP contribution limit?

There is no current annual RESP contribution limit, but total lifetime contributions across all RESPs for one beneficiary are limited to $50,000. Contributions above the lifetime limit may trigger a penalty tax.

Does the calculator include the Canada Learning Bond?

No. The CLB and Additional CESG depend on eligibility factors that are not requested here. Eligible lower-income families may receive CLB even without making personal contributions, so check the official Government of Canada guidance.

What happens if the child does not attend post-secondary school?

The subscriber can generally take back original contributions tax-free, while unused federal education savings incentives are returned to the government. Investment earnings may have other options and tax consequences, depending on the plan and circumstances.

Are RESP withdrawals taxable?

A return of the subscriber’s original contributions is generally not taxed. Educational assistance payments—made from grants, bonds, and investment earnings—are generally included in the student beneficiary’s income. Ask the promoter how each withdrawal will be categorized.

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