Updated with 2026 grant rules

RESP Calculator Free Money for Your Child's Education

The government adds 20% to every RESP dollar on the first $2,500 a year, up to $7,200 per child, plus more for lower and middle-income families. Enter your child's age and what you can save to see the grants and what the RESP could be worth at 18.

  • CESG, CLB and BC grant included
  • 2026 income thresholds
  • Catch-up for missed years
  • Help opening the RESP
Portrait of Pankaj Bhatia, PFA, CHS, RESP advisor
Pankaj Bhatia, PFA, CHSLicensed advisor · Mississauga and CambridgeWhatsApp Pankaj

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$7,200Maximum CESG per child
$2,500 a yearCollects the full $500 grant
$50,000Lifetime contribution limit
Interactive tool

RESP Grant and Savings Calculator

Based on 2026 federal and BC grant rules, assuming a new RESP with no grants received yet.

Estimated RESP value at age 18 $0

    Send my result to Pankaj

    Estimate only. Growth is not guaranteed. Assumes contributions at the start of each year until the child turns 17, grants paid the same year, and growth until age 18. Additional CESG uses the 2026 thresholds for every year; real thresholds change yearly. The CLB estimate assumes eligibility in every year from birth to age 15.

    2026 rules

    RESP Government Grants Explained

    Canada Education Savings Grant

    20% on the first $2,500 a year

    $500 a year, up to $7,200 per child, until the end of the year the child turns 17.

    Additional CESG

    Extra 10% or 20% on the first $500

    $50 or $100 more a year for families with 2026 net income under $117,045 or $58,523.

    Canada Learning Bond

    Up to $2,000, no contribution needed

    $500 + $25 in the first year, then $100 a year to age 15, for lower-income families.

    BC Training and Education Savings Grant

    One-time $1,200

    For BC children; apply between age 6 and the day before age 9.

    RESP basics

    How an RESP Works

    • Open the plan with the child's Social Insurance Number. Parents, grandparents or anyone can contribute.
    • Contribute any amount; $2,500 a year per child collects the full basic grant. Lifetime limit: $50,000 per child.
    • Grants are added by the government, and everything grows tax-deferred.
    • At school (university, college, trade school or apprenticeship), contributions come out tax-free; grants and growth are taxed in the student's hands, usually little or nothing.
    • Family plans let brothers and sisters share the money.
    Protect the plan, too

    If something happens to the parent who is saving, the contributions stop. Life and critical illness insurance can keep your child's education plan on track.

    Life insurance · Critical illness
    Saving for yourself too?

    Compare TFSA, RRSP and FHSA, and see your RRSP refund for 2026.

    Savings calculators · RRSP refund
    Common questions

    RESP Questions, Answered

    How much does the government add to an RESP?

    The Canada Education Savings Grant adds 20% on the first $2,500 you contribute each year, which is $500 a year, up to $7,200 per child. Lower and middle-income families get an extra 10% or 20% on the first $500. Low-income families can also get the Canada Learning Bond of up to $2,000 without contributing, and BC children can get a one-time $1,200 BC grant.

    How much should I put in an RESP each year?

    $2,500 a year per child collects the full $500 basic grant every year. Contributing $208 a month gets you there. Starting at birth, that collects the full $7,200 grant in about 15 years.

    Can I catch up on missed RESP grants?

    Yes. Unused grant room carries forward, and a child can get up to $1,000 of basic CESG in one year. Contributing $5,000 in a year catches up one missed year.

    What is the RESP contribution limit?

    There is no yearly limit, but the lifetime limit is $50,000 per child. Grants don't count toward the $50,000.

    Until what age can my child get the CESG?

    Until the end of the calendar year the child turns 17. At 16 and 17, the child only qualifies if at least $2,000 was contributed, or at least $100 a year in any four years, before the end of the year they turned 15.

    Who qualifies for the Canada Learning Bond?

    Children born in 2004 or later in lower-income families. It pays $500 in the first eligible year plus $25 to help open the RESP, then $100 a year up to age 15, to a maximum of $2,000. No contribution is needed, and you can apply until the child turns 21.

    What is the BC Training and Education Savings Grant?

    A one-time $1,200 grant from the BC government for children living in BC. Apply between the child's 6th birthday and the day before they turn 9. No contribution is required.

    What happens if my child doesn't go to post-secondary school?

    Your contributions come back to you tax-free, but the grants are returned to the government. Growth can stay in the plan for a sibling, or be withdrawn and taxed; some of it may be moved to your RRSP if you have room. Ask us before closing an RESP.

    How is RESP money taxed when my child withdraws it?

    Contributions come out tax-free. The grants and growth are paid as Educational Assistance Payments and taxed in the student's hands, usually at a very low rate or not at all because students have little other income.

    Sources

    Where These Numbers Come From

    Last reviewed October 18, 2026 by Pankaj Bhatia, PFA, CHS. General information only. Ask us which RESP plans and investment options we can offer for your family.

    Don't leave free grant money on the table

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