RESP Calculator Canada 2025 — with CESG Grant
Contributing $2,500/year to an RESP earns the maximum $500 CESG grant per year. Starting at age 2 with 5% return, your child's RESP could reach approximately $78,000 by age 18. Enter your details to calculate.
Contribute at least $2,500/year to maximize the $500 CESG grant
Years of Contributions
16
Total Parent Contributions
CAD40,000
Total CESG Grants Received
CAD7,200
Projected RESP Balance at 18
CAD73,616
CESG is 20% on first $2,500/year contributed = max $500/year per child. Lifetime CESG maximum is $7,200/child. Additional CESG for lower-income families (ACESG) and Canada Learning Bond (CLB) are not included. Projections are estimates only.
What is the RESP Calculator?
The Registered Education Savings Plan (RESP) helps Canadian families save for post-secondary education. The government contributes the Canada Education Savings Grant (CESG) — 20% on the first $2,500 contributed per year per child, up to $500/year and $7,200 lifetime. Growth inside an RESP is tax-sheltered until withdrawn.
Formula
Annual CESG = min(Contribution × 20%, $500). Monthly total = (Contribution + CESG) ÷ 12. Balance = Monthly total × ((1+r)^n − 1) ÷ r × (1+r).- C
- = Annual parent contribution
- CESG
- = Annual government grant (max $500)
- r
- = Monthly return rate
- n
- = Months until child turns 18
How to use the RESP Calculator
- 1
Step 1
Enter your planned annual RESP contribution.
- 2
Step 2
Enter your child's current age.
- 3
Step 3
Set an expected annual return.
- 4
Step 4
View total CESG grants and projected RESP balance at age 18.
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Frequently asked questions
What is the maximum CESG in Canada?
The maximum CESG is $500/year per child (20% on first $2,500), with a lifetime maximum of $7,200 per child. You can catch up unused grant room from prior years.
Can I contribute to an RESP after age 18?
CESG is only available until December 31 of the year the child turns 17. RESP contributions can technically continue until the plan is 35 years old.
Sources
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