RESP Calculator

Calculate your Registered Education Savings Plan with Canada Education Savings Grants (CESG) and provincial benefits

Supported grants:CESG (federal 20%)Quebec IQEE (10%)BC BCTESG ($1,200)

2026 RESP Benefits:

  • Basic CESG: 20% on first $2,500 annually (max $500/year, $7,200 lifetime)
  • Additional CESG: Extra 10-20% on the first $500 contributed, for family net income up to $117,045 (2026)
  • Canada Learning Bond: Up to $2,000 for low-income families
  • Provincial grants available in Quebec (QESI) and BC (BCTESG)
Remaining contribution room
$50,000
$50,000 lifetime cap
Remaining CESG room
$7,200
$7,200 federal cap
Accumulated CESG carry-forward
$0
No catch-up room
Last eligible CESG year (2043)

CESG ends on December 31 of the year the beneficiary turns 17. For ages 16-17, special rules require either $2,000+ in prior contributions or four years of $100+ contributions before age 16.

Plan Details

Years to save: 18

Recommended: $2,500/year to maximize CESG

✓ Eligible for additional 10% CESG

Projected returns are hypothetical.

Already contributed and received

Optional

If the RESP already exists, these fields adjust the projection to respect lifetime caps and enable CESG catch-up.

$86,967
Total at Age 18
$7,200
Free Government Money
$34,767
Investment Growth

Savings Breakdown

Your Contributions$45,000
CESG Grants (20%)$7,200
Investment Growth$34,767
Total Value at 18$86,967

Government Grant Details

CESG Rate: 20% matching
Max Annual: $500 per year
Lifetime Max: $7,200 CESG

Federal CESG only

Your province does not currently offer an additional RESP grant on top of the federal CESG. The 20% Canada Education Savings Grant (up to $500/year, $7,200 lifetime) still applies and is the single biggest reason to contribute to an RESP. Saskatchewan and Alberta both ran short-lived RESP programs in the past, but both have been closed (Saskatchewan ended in 2018; Alberta in 2015). Existing balances remain in those RESPs, but no new provincial grants are being issued.

Education Savings Growth

RESP Tips & Strategies

🎯 Maximize Your Grants

  • • Contribute $2,500/year to get the full $500 CESG (20% match)
  • • Lower-income families can get up to 40% matching (additional $100)
  • • Start early - you can carry forward unused grant room
  • • Open RESP in child's birth year to maximize CLB eligibility

💡 Smart Strategies

  • • Family RESP allows grant sharing between siblings
  • • Consider catch-up contributions if you started late
  • • Lifetime contribution limit: $50,000 per child
  • • CESG is available until child turns 17 (15 if no prior contributions)

📚 Withdrawal Rules

  • • Contributions can be withdrawn tax-free anytime
  • • EAP (grants + growth) taxed in student's hands (usually low rate)
  • • Must use for post-secondary education
  • • Unused grants must be returned to government

⚠️ Important Notes

  • • Child must enroll in qualifying post-secondary program
  • • If child doesn't pursue education, growth portion is taxable + 20% penalty
  • • Can transfer to RRSP (up to $50,000 if you have room)
  • • Consider naming a contingent beneficiary

Understanding the RESP grant ecosystem

A deeper look at all RESP grants, contribution rules, and what happens if your child doesn't pursue post-secondary education.

All RESP grants explained

A Registered Education Savings Plan stacks several grants in a single account. The Canada Education Savings Grant (CESG) is the largest: a 20% federal match on the first $2,500 contributed each year (max $500/year, $7,200 lifetime per beneficiary). Lower-income families also receive an Additional CESG of 10–20% on the first $500 contributed (an extra $50–$100/year). The Canada Learning Bond (CLB) is a separate federal grant for families below an income threshold ($58,523 for households with 1–3 children in the July 2026–June 2027 benefit year) and requires no contributions - $500 in the first year, then $100/year until the child turns 15, up to $2,000 lifetime. Provincial grants stack on top: Quebec's IQÉÉ adds 10% (up to $3,600 lifetime), and BC's BCTESG provides a one-time $1,200 for children born in 2006 or later.

Contribution rules and limits

The RESP has a lifetime contribution limit of $50,000 per beneficiary, with no annual contribution limit - you can lump-sum the full $50,000 in one year if you wish. However, only the first $2,500 of contributions each year earns the maximum basic CESG. If you contribute more than $2,500 in a year, the excess does not generate additional CESG (except via the catch-up provision below). Unused CESG room carries forward: if you miss a year, you can contribute up to $5,000 the next year and earn CESG on $2,500 of carry-forward plus $2,500 current-year - a maximum of $1,000 CESG in a single year. The CESG must be claimed by the end of the calendar year the beneficiary turns 17, and special "16- and 17-year-old" rules require either prior contributions of $2,000+ or four years of $100+ contributions before age 16 to remain eligible.

What happens if the child doesn't pursue post-secondary education

You have several options. The RESP can stay open for up to 35 years from the year it was opened, giving the beneficiary time to change their mind. You can transfer the plan to another beneficiary (typically a sibling). If neither option works, you can close the plan: your own contributions come back tax-free, but all CESG, Additional CESG, CLB, and provincial grants must be returned to the government. The investment growth becomes an Accumulated Income Payment (AIP) - taxable at your marginal rate plus a 20% penalty tax. To avoid the penalty, you can transfer up to $50,000 of the AIP to your RRSP (or your spouse's) if you have contribution room, the RESP has been open at least 10 years, all beneficiaries are 21+, and you are a Canadian resident. Talk to a tax pro before closing - proper sequencing can save thousands.

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Frequently Asked Questions

Last updated: July 2026

The CESG is a federal grant that matches 20% of annual RESP contributions, up to $500 per year per beneficiary ($1,000 if catching up unused room). The lifetime CESG limit is $7,200 per beneficiary. CESG is available until the end of the calendar year the beneficiary turns 17.

There is no annual RESP contribution limit. The lifetime contribution limit per beneficiary is $50,000. However, only the first $2,500 of annual contributions per beneficiary attracts the 20% CESG ($5,000 if catching up missed years). Contributing more than $2,500 per year is allowed but does not generate additional CESG beyond the catch-up provision.

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Educational tool - estimates only. Not individualized financial, investment, tax, or legal advice. Using it does not create an advisor-client relationship. Rules and figures change; verify against current CRA sources and consult a qualified professional. Editorial policy →