RESP Calculator — CESG & Education Savings 2026
Project your Registered Education Savings Plan (RESP) with Canada Education Savings Grant, Additional CESG, Canada Learning Bond, and provincial grants.
Your RESP Plan
Up to $4,167/month (to hit the $50,000 lifetime limit over 12 months). Only the first $2,500/year attracts the basic CESG.
Usually 17–19 when university starts.
A balanced portfolio averages roughly 4–7% historically. Use 3% for conservative, 6% for growth.
CESG rates per ESDC 2025/2026. Lifetime CESG limit: $7,200. RESP lifetime contribution limit: $50,000 per beneficiary.
Projected RESP at Age 18
Projected RESP Value
Over 18 years at 5% return
Your Contributions
18 years × $2,400/yr
Total Grants
CESG $7,200
Investment Growth
Compound returns on contributions + grants
CESG Earned
Basic $7,200
When withdrawn for school:
PSE (contributions returned): $43,200 — tax-free
EAP (grants + growth): $44,911 — taxed as student's income (usually very low tax)
CESG and grant amounts are based on ESDC 2025/2026 figures. Provincial grant estimates are approximations — verify eligibility and enrollment with your RESP provider. Investment projections are illustrative only.
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Frequently asked questions
How much is the Canada Education Savings Grant (CESG) in 2026?
The federal government deposits a Basic CESG of 20% on the first $2,500 of annual RESP contributions per beneficiary — up to $500/year. The lifetime CESG limit is $7,200 per child. Lower-income families may also receive the Additional CESG: an extra 20% on the first $500 contributed (family net income ≤ $55,867) or 10% (income $55,867–$111,733), adding up to $100 or $50 per year respectively.
What is the RESP lifetime contribution limit?
The lifetime RESP contribution limit is $50,000 per beneficiary. There is no annual contribution limit, but contributions beyond $50,000 are subject to a 1% per month penalty tax. Only the first $2,500 contributed per year triggers the Basic CESG — contributing more in a single year does not produce proportionally more grant, though you can catch up unused grant room by contributing $5,000 in a year (limited to one catch-up year at a time).
How is an RESP taxed when the child withdraws for school?
RESP withdrawals are split into two parts. The return of contributions (PSE — Post-Secondary Education withdrawal) goes back to you tax-free because contributions were made with after-tax dollars. Educational Assistance Payments (EAPs) — which include the CESG, other grants, and all investment earnings — are paid to the student and taxed as the student's income. Students usually have little other income, so the effective tax on EAPs is very low.
What is the Canada Learning Bond (CLB)?
The CLB is a federal grant for lower-income families — specifically those who receive the National Child Benefit Supplement or meet income thresholds — with no RESP contribution required. The government deposits $500 initially and $100/year until the child turns 15, for a total of up to $2,000. The CLB belongs to the child and can only be used for post-secondary education.
What provincial RESP grants are available?
Several provinces add their own grants. BC residents with children born in 2006 or later can receive the BC Training and Education Savings Grant (TESG) of $1,200 one-time (income-tested). Alberta offers the Alberta Centennial Education Savings (ACES) plan: $500/year for the first 6 years and $100/year to age 14. Quebec offers the QESI (10% on first $2,500/yr). Saskatchewan provides $500 across ages 13 and 15 (SEAP). Contact your RESP provider to ensure automatic enrollment.
What happens to the RESP if my child does not attend post-secondary?
CESG and CLB amounts must be repaid to the government. Your contributions are returned tax-free. Investment earnings inside the plan can be transferred to your RRSP (up to your available contribution room) or withdrawn as income subject to regular tax plus a 20% penalty. Plans can stay open for 35 years, providing time for another family member to use them.