RESP Calculator Canada
Project your Registered Education Savings Plan balance with CESG grants and compound growth — see how much you'll have for your child's education.
The Power of Starting Early
Opening an RESP at birth and contributing $2,500/year ($208/month) captures the full $500 annual CESG every year, for a total of $7,200 in free government money over 17 years. At a 5% average annual return, that $42,500 in contributions + $7,200 in CESG grows to approximately $82,000–$90,000 by the time your child starts university.
If you can't contribute $2,500/year, start with whatever you can. Even $50/month gets you partial CESG and compound growth. Many financial institutions offer no-fee RESPs — check with your bank, credit union, or an online brokerage like Questrade or Wealthsimple that offers low-cost RESP accounts.