About the Canada RESP Calculator
This RESP calculator projects how much a Registered Education Savings Plan could hold when your child turns 18. Enter the child’s age, what the plan holds now, any grants already received, your yearly contribution, an expected return and your family income band, and it adds the Canada Education Savings Grant (CESG), the Additional CESG and — for eligible lower-income families — the Canada Learning Bond (CLB).
The basic CESG matches 20% of the first $2,500 you contribute each year, up to $500. Unused grant room carries forward, so you can catch up at up to $1,000 of grant a year by contributing $5,000, until the $7,200 lifetime maximum is reached. For 2026, families with adjusted net income of $58,523 or less get an extra 20% on the first $500 contributed each year, and families between $58,523 and $117,045 get an extra 10%. The CLB pays $500 in the first year of eligibility and $100 for each later year up to age 15 (maximum $2,000), with no contribution required.
Grants are paid until the end of the calendar year the child turns 17, but at 16 and 17 only if at least $2,000 was contributed before the end of the year they turned 15, or at least $100 a year in any four years before then; the calculator applies that rule. The lifetime contribution limit is $50,000 per beneficiary. Provincial incentives (such as the BC grant or the Québec QESI) are not included.
With the default inputs, the resp value at 18 is $86,597.30. Change any value above to recalculate instantly.
How to use the canada resp calculator
- 1Enter your child’s age, the plan’s current balance and any CESG already received.
- 2Enter how much you plan to contribute each year.
- 3Choose your family income band for the Additional CESG.
- 4Switch on the Canada Learning Bond if your family qualifies.
- 5Check the value at 18 and the unclaimed grant, then adjust contributions to capture the full $7,200.
Formula and method
CESG room builds at $500 a year from birth. Each year the basic grant is 20% of your contribution, limited to $1,000, to the grant room you have accumulated and not used, and to what remains of the $7,200 lifetime maximum. The Additional CESG (20% or 10% of the first $500 contributed, depending on family income) cannot be carried forward and also counts toward the $7,200 lifetime cap. Contributions stop counting once total contributions reach $50,000.
Contributions and grants are added at the start of each year and grow at the expected return until the child turns 18. The CLB is modelled as $500 plus $100 for each year of age up to 15 (paid retroactively when the plan is opened), then $100 a year to age 15, for a maximum of $2,000. Existing balance minus grants received is treated as your past contributions for the $50,000 limit and the age 16–17 rule.
- C
- Your contribution in the year
- unused room
- $500 × years since birth − basic CESG already received
- rate
- 20% (income ≤ $58,523), 10% ($58,523–$117,045) or 0%
Worked examples
Newborn, $2,500 a year at 5%
Contributing $2,500 every year from birth earns $500 of CESG a year until the $7,200 lifetime cap is reached at age 14. After 18 years of contributions totalling $45,000 and 5% growth, the plan holds about $86,597.
Starting at age 8 with $5,000 a year (middle income)
Eight years of unused grant room ($4,000) plus this year’s $500 lets a $5,000 contribution attract the $1,000 maximum basic grant plus $50 of Additional CESG. Ten years of $5,000 reach both the $50,000 contribution limit and the $7,200 grant cap, growing to about $76,243 at 5%.
Lower-income family with the Canada Learning Bond
Each $1,000 contribution earns $200 of basic CESG plus $100 of Additional CESG, for $4,500 over 15 years. The CLB adds $800 when the plan opens (for ages 0–3) and $100 a year to age 15, for the full $2,000. At 4% the plan reaches about $30,203; $2,700 of CESG is left unclaimed.
Frequently asked questions
How much is the CESG grant?+
The basic Canada Education Savings Grant is 20% of the first $2,500 you contribute each year — up to $500 a year — with a lifetime maximum of $7,200 per child. Using carried-forward room you can receive up to $1,000 in a year.
What is the Additional CESG?+
Lower- and middle-income families get an extra grant on the first $500 contributed each year: 20% ($100) if 2026 family net income is $58,523 or less, or 10% ($50) between $58,523 and $117,045. It counts toward the $7,200 lifetime maximum.
How much is the Canada Learning Bond?+
The CLB pays $500 in the first year a child is eligible and $100 for each later year of eligibility up to age 15, to a maximum of $2,000. No contributions are required — you open an RESP and apply, and the beneficiary can still request it until the day before they turn 21.
Can I catch up on missed RESP grants?+
Yes. Unused basic CESG room carries forward, but the grant is limited to $1,000 a year, so to catch up you contribute up to $5,000 a year. Starting late can mean you cannot claim the full $7,200 before the child turns 17.
What is the RESP contribution limit?+
There is no annual limit, but the lifetime contribution limit is $50,000 per beneficiary. Only the first $2,500 a year (or $5,000 with carried-forward room) attracts the basic CESG.
What happens if my child does not go to post-secondary school?+
You can usually keep the plan open, transfer it to a sibling, or withdraw your contributions tax-free. The grants must be repaid, and investment growth withdrawn as an accumulated income payment is taxed at your rate plus an extra 20%, unless rolled into an RRSP within limits.
Results are estimates for educational purposes and are not financial advice. Rates, fees and terms vary — confirm with your lender or a licensed advisor before making decisions.
Sources
- Government of Canada — How much money benefits could add to the RESP (CESG, Additional CESG, CLB amounts and income thresholds)
- Canada Revenue Agency — Canada Education Savings Grant (CESG), including the age 16–17 rules
- Canada Revenue Agency — RESP contributions ($50,000 lifetime limit per beneficiary)
- Government of Canada — Canada Learning Bond (automatic enrolment)