RESP calculator with CESG grants
The government hands out a guaranteed 20% on RESP contributions — up to $7,200 per child — and most families leave some of it on the table. See what yours could grow to, and whether you're capturing the full grant.
Contribute $208/mo ($2,500/yr) to max the $500 annual CESG.
The government adds 20% to every dollar you contribute, up to $500 a year and $7,200 over the child's lifetime. That's an instant, guaranteed 20% return no other account in Canada offers.
Excludes the Canada Learning Bond and additional CESG, which add up to $2,000 and an extra 10–20% on the first $500 for lower-income families. Withdrawals of grants and growth are taxed in the student's hands — usually at close to zero.
Contribute $2,500 a year (~$208/month) to capture the full $500 annual CESG — a guaranteed 20% return. Lifetime maximums: $50,000 in contributions and $7,200 in grants, with grants ending the year the child turns 17.
RESP grant rules at a glance
| CESG rate | 20% of your contributions |
| Maximum grant per year | $500 (on $2,500 contributed) |
| With one year of catch-up | $1,000 (on $5,000 contributed) |
| Lifetime grant maximum | $7,200 per child |
| Lifetime contribution maximum | $50,000 per child |
| Grants available until | End of the year the child turns 17 |
Frequently asked questions
How much should I contribute to an RESP each year?
$2,500 a year — about $208 a month — is the sweet spot. That captures the maximum $500 Canada Education Savings Grant, a guaranteed 20% return on your contribution. Contributing more in a year doesn't earn extra grant unless you're catching up on unused room.
What is the CESG and how much can I get?
The Canada Education Savings Grant pays 20% on your RESP contributions, up to $500 per year and $7,200 over the child's lifetime. Grants are available until the end of the year the child turns 17. Lower-income families can also receive an additional CESG and the Canada Learning Bond.
Can I catch up on missed RESP grant room?
Yes, but only one year at a time. If you missed a year, contributing $5,000 lets you claim $1,000 of grant instead of $500. Starting late means you may never reach the full $7,200, since you can't claim more than $1,000 of grant in any single year.
What are the RESP contribution limits?
There's no annual contribution limit, but there's a $50,000 lifetime maximum per beneficiary. Over-contributing triggers a 1% per month penalty on the excess, so it's worth tracking if multiple relatives contribute to the same plan.
What happens if my child doesn't go to school?
Your own contributions come back to you tax-free. Grants must be returned to the government. Investment growth can be transferred to your RRSP if you have room (up to $50,000), or withdrawn as an Accumulated Income Payment, which is taxed as income plus a 20% penalty.
Related tools
Researching and writing about Canadian personal finance since 2026.
Last reviewed August 2026 · How we research
“RESP Calculator with CESG Grants — VaultNerd” — VaultNerd, https://www.vaultnerd.com/tools/resp-calculator, updated August 2026.
- Government of Canada — Canada Education Savings Grant (CESG) rules and limits
- CRA — RESP contribution limits and over-contribution penalties