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RESP Calculator Canada 2025

Calculate your RESP growth with CESG government matching, optimize contributions for maximum grants, and plan tax-efficient withdrawals.

years
CESG available until age 17
$
$208/month = $2,500/year (maximizes CESG)
%
Balanced portfolio: 5-7%. Conservative: 3-4%
$
Leave 0 to skip Additional CESG. Under $55,867 qualifies.
$
Existing balance, if any
$
Lifetime max: $7,200 per child
โ€”
Estimates only. CESG/CLB amounts depend on CRA verification. Consult a financial advisor.

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How to Use This Calculator

Tab "Growth Projection"

Enter your child's current age (0-17), monthly contribution, and expected return. See total contributions, CESG grants earned, investment growth, and projected balance at age 18 with a year-by-year breakdown.

Tab "CESG Optimizer"

Enter your annual contribution to see if you're maximizing the CESG government match. Contributing $2,500/year earns the full $500 match. See what you're leaving on the table or how excess contributions above $2,500 don't earn additional grants.

Tab "Withdrawal Plan"

Enter the RESP balance at age 18, program length (2-4 years), and the student's other income. See the optimal mix of EAP (taxable grants+growth) and PSE (tax-free contributions) withdrawals to minimize tax.

The Formulas

CESG (Canada Education Savings Grant):
20% match on contributions, max $500/year per child
Lifetime CESG limit: $7,200 per beneficiary
Additional CESG: +10-20% on first $500 for income < $55,867

CLB (Canada Learning Bond):
$500 initial + $100/year for low-income families
Lifetime CLB limit: $2,000 per child

Contribution limit:
$50,000 lifetime per beneficiary (no annual limit)

Withdrawals:
PSE (contributions) = returned tax-free
EAP (grants + growth) = taxed to the student

Growth projection:
Year N balance = Previous balance ร— (1 + return) + contributions + CESG

Example

The Chen Family โ€” Contributing $2,500/Year from Birth, 5% Return

Total contributions (18 years)$45,000
CESG grants (18 ร— $500)$7,200 (max)
Investment growth~$24,800
RESP balance at 18~$77,000
Government match return16% of contributions

Frequently Asked Questions

Yes. CESG unused grant room carries forward. If you missed contributing in prior years, you can contribute up to $5,000 in a year and earn $1,000 in CESG (current year $500 + one year of carry-forward $500). You can catch up one year at a time. The lifetime limit of $7,200 still applies.
A family RESP can have multiple beneficiaries (siblings) and allows you to share unused funds between children. If one child doesn't attend post-secondary, another sibling can use the EAP. An individual RESP can have a non-related beneficiary. For most families with multiple children, a family RESP offers more flexibility.
Any full-time or part-time program at a qualifying post-secondary institution: universities, colleges, CEGEPs, trade schools, and many apprenticeship programs. The program must be at least 3 weeks long (full-time) or 12 weeks in duration with at least 12 hours of courses per month (part-time). Foreign institutions may also qualify.

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