RESP Calculator

See what your child’s RESP could grow to by 18, with the 20% federal grant, the Canada Learning Bond, and BC and Quebec grants.

Child’s age now

You put in

A month

Family net income

For the extra grants

Province

More options· Money already saved and the return

Already in the RESP

Return

A year

At 18, the RESP could hold

$86,843

Including $7,200 of free government money

You put in: $44,928
Federal grant (CESG): $7,200

Your money$44,928
Grants and bonds$7,200
Growth$34,715

What this means

The federal grant adds 20% to the first $2,500 you put in each year: $500 a year, up to $7,200 in all. Putting in about $208 a month gets all of it.

Year by year

Age	You put in	Grants	Balance
1	$2,496	$549	$3,197
2	$2,496	$549	$6,555
3	$2,496	$549	$10,080
4	$2,496	$549	$13,781
5	$2,496	$549	$17,668
6	$2,496	$549	$21,749
7	$2,496	$549	$26,034
8	$2,496	$549	$30,533
9	$2,496	$549	$35,257
10	$2,496	$549	$40,217
11	$2,496	$549	$45,426
12	$2,496	$549	$50,894
13	$2,496	$549	$56,637
14	$2,496	$60	$62,153
15	$2,496	$0	$67,881
16	$2,496	$0	$73,896
17	$2,496	$0	$80,211
18	$2,496	$0	$86,843

Good to know

Unused grant room carries forward: you can catch up one extra year at a time, up to $1,000 of grant a year.
When your child studies, the growth and grants are taxed as their income, usually at little or no tax.
If they don’t study, you get your contributions back, the grants are returned, and the growth can go into your RRSP.

Assumptions in this estimate

Contributions go in until the end of the year your child turns 17, and grow at a steady return. Grants at 16 and 17 need some contributions before then.
The Canada Learning Bond is shown in full for families eligible every year since birth. Families with 4 or more children have a higher income limit.

Spotted a mistake? Tell us

How the calculator works

Your child’s age and what you put in each month, until the end of the year they turn 17.
Family income: for the extra grants and the Canada Learning Bond.
Province: BC and Quebec add their own grants.

Example

Putting in $208 a month from birth, growing at 5% a year:

	Amount
You put in	$44,928
Federal grant (CESG)	$7,200
Growth	$34,715
At 18	$86,843

Last updated October 20, 2026

Frequently asked questions

How much does the government add to an RESP?

The Canada Education Savings Grant adds 20% of the first $2,500 you put in each year: $500 a year, up to $7,200 per child. Lower-income families get extra grant, and the Canada Learning Bond adds up to $2,000.

How much should I put in an RESP?

About $2,500 a year, or $208 a month, gets the full $500 grant. If you start late, you can catch up one extra year at a time, up to $1,000 of grant a year.

What happens if my child doesn’t go to school?

You get your contributions back tax-free. The grants go back to the government, and the growth can be moved into your RRSP if you have room, or taken out with tax.

Do BC and Quebec add more?

Yes. BC pays a one-off $1,200 grant (apply between ages 6 and 9), and Quebec adds 10% of contributions, up to $3,600 in all.