RESP & CESG Grant Calculator
An RESP isn’t just a savings account — the government adds a 20% Canada Education Savings Grant on top of what you put in, up to $7,200 per child. This tool projects the balance to age 18 and shows how much of that growth is free grant money you’d never get in a plain account.
Your numbers
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Result
Over 16 years the government adds $7,200 in CESG — money a plain account never gets. That grant plus its growth makes the RESP worth $12,130 more than the same savings elsewhere. You collect the full $7,200 lifetime grant — perfectly optimized.
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Frequently asked
What is the CESG?
The Canada Education Savings Grant matches 20% of your RESP contributions — up to $500 per year and $7,200 in total per child. It’s effectively a guaranteed 20% return on the first $2,500 you contribute each year.
How much should I contribute to an RESP?
To capture the full annual grant without over-contributing, about $2,500 per year ($208/month) per child hits the $500 grant cap. More than that still grows tax-sheltered but earns no extra grant unless you’re carrying forward unused room.
What is the RESP contribution limit?
There is no annual contribution limit, but there is a lifetime limit of $50,000 per beneficiary. The grant is capped separately at $7,200 per child.
Illustrative estimates for education only — not investment, tax, or insurance advice. Figures assume constant returns and simplified rules; your situation will differ. Speak with a licensed professional before acting.