Investment Calculators · Canada
RESP growth.
Project Registered Education Savings Plan growth with full Basic and Additional CESG matching, $50,000 lifetime contribution cap, and $7,200 CESG cap.
A Registered Education Savings Plan grows tax-deferred and attracts the Canada Education Savings Grant: the basic CESG matches 20% of the first $2,500 contributed each year, up to a lifetime grant limit of $7,200 per child. This calculator projects the balance with those matches applied to the contributions you enter.
Source: CRA — Registered Education Savings Plans (RESPs); Government of Canada — Canada Education Savings Grant · As of
Cite this page: TNAADO Tools, “RESP Calculator 2026: Grant and Growth”, https://tools.tnaado.ca/calculators/investment/resp/
Saving for your own first home rather than a child's education? Use the FHSA calculator.
Inputs
Future RESP value
Fill the form and press Calculate.
About the RESP
The federal government matches RESP contributions with a 20% Basic CESG, capped at $500 per year and $7,200 lifetime per child. Lower-income families can receive an Additional CESG on the first $500 of contributions each year. Contributions are not tax-deductible, but growth and grant money are taxed in the student's hands at withdrawal time, usually at a very low rate.
Worked example: $2,500 a year from birth to age 17
A parent opens an RESP for a newborn, contributes $2,500 a year until the child is 17 and earns 5% a year, with family income of $80,000. The calculator returns a future value of $79,426: $42,500 of contributions, $7,200 of government grants (the lifetime maximum) and $29,726 of growth.
| Family income | Basic CESG | Additional CESG | Total grants | Future value |
|---|---|---|---|---|
| Under $58,523 ($50,000) | $6,000 | $1,200 | $7,200 | $79,733 |
| $58,523 to $117,045 ($80,000) | $6,550 | $650 | $7,200 | $79,426 |
| Over $117,045 ($150,000) | $7,200 | $0 | $7,200 | $79,071 |
| $1,000 a year instead ($80,000) | $3,400 | $850 | $4,250 | $33,527 |
- The grant caps out. At $2,500 a year the basic grant is $500 a year, and the $7,200 lifetime maximum per child is reached before age 17, so later contributions earn growth but no more grant.
- Lower income, more grant. The additional CESG pays an extra 20% (income under $58,523) or 10% ($58,523 to $117,045) on the first $500 contributed each year; above $117,045 it is zero. The extra grant is capped by the same $7,200 lifetime ceiling.
- Contributing less leaves grant unclaimed. At $1,000 a year the grants total $4,250 instead of $7,200. The Government of Canada grant page says unused grant room can be caught up with extra contributions in later years, which this page does not model.
Next steps: compare with a registered account for your own retirement in the RRSP calculator, see tax-free growth in the TFSA calculator, or see how much the extra RESP growth is worth with the compound interest calculator.
How this is calculated
- Basic CESG = 20% of the first $2,500 contributed each year, so at most $500 a year.
- Additional CESG = 20% of the first $500 contributed each year if family income is under $58,523, 10% if it is between $58,523 and $117,045, nothing above that.
- Lifetime grant is capped at $7,200 per child, and the CESG is available until the end of the calendar year the child turns 17.
- Growth compounds monthly at your return rate on contributions plus grants, each year’s deposits spread evenly over its twelve months; the model also stops contributions at the $50,000 lifetime limit per beneficiary.
These rules follow the Government of Canada’s Canada Education Savings Grant page (the 2026 income thresholds are the ones shown there) and the CRA’s RESP contributions page, which states that there is no annual contribution limit, that the lifetime limit is $50,000 per beneficiary, and that RESP contributions cannot be deducted from income (both checked 1 October 2026). Provincial grants, the Canada Learning Bond and withdrawals are not modelled, and the thresholds change each year with indexation.
General information, not financial or tax advice. Confirm grant eligibility and room with your RESP provider.
TNAADO Inc. · Toronto
The grant is the point
The return on an RESP is dominated by the Canada Education Savings Grant, not by market growth. Ottawa matches 20% of contributions each year, per child, up to an annual and a lifetime grant maximum. That is a guaranteed 20% on the first dollars in, which no investment reliably matches. Contributions themselves are not deductible; the growth and the grant are taxed in the student’s hands on withdrawal, usually at close to nothing.
The mistake people make. Front-loading the lifetime contribution room in year one. Grant is paid on contributions made in a year, so one large deposit collects a single year of grant and forfeits the rest. Contributing enough to collect the annual grant every year until the end of the year the child turns 17 is worth considerably more than the extra compounding gained by depositing early.
Frequently asked questions
How much is the Canada Education Savings Grant?
The basic CESG is 20% of the first $2,500 contributed each year, so at most $500 a year, and up to $7,200 in total per child. Lower- and middle-income families can receive an additional 20% or 10% on the first $500 contributed each year. It is available until the end of the calendar year the beneficiary turns 17.
What is the maximum I can put into an RESP?
The CRA says there is no annual limit for RESP contributions since 2007, but the lifetime limit for a beneficiary across all RESPs is $50,000. Government grants do not count toward that limit. Contributions are not tax deductible.
Do I have to contribute $2,500 every year to get the full grant?
The grant is a match on contributions, so contributing less earns less: $1,000 a year earns $4,250 of grant in this example. The Government of Canada grant page says that if you do not receive the maximum CESG in a given year you can catch up in later years by contributing more.
What is the additional CESG and who gets it?
An extra 20% on the first $500 of annual contributions for adjusted family net income under $58,523, or 10% from $58,523 to $117,045, based on the 2026 figures on the Government of Canada page. Over $117,045 there is no additional grant. In the example it adds $1,200 at the lower income and $650 at the middle income.
Is the growth in an RESP taxed?
Growth and grants are not taxed while they stay in the plan. When a student withdraws them as educational assistance payments they are normally taxed in the student’s hands, usually at a low rate. Your own contributions come back tax-free. Confirm details with the CRA or your provider.
Disclaimer
Educational only. CESG thresholds are indexed annually. Verify your eligibility with the CRA and consult a qualified financial advisor.