RESP Calculator — Maximize the Government Education Grant
Calculate RESP contributions and the Canada Education Savings Grant. See how the 20% government match builds your child education fund.
The Registered Education Savings Plan combines tax-sheltered growth with the Canada Education Savings Grant (CESG) where the government matches 20% of contributions up to $500 per year per child. Contributing $2500 annually gets the maximum $500 CESG. Over 18 years with consistent contributions and investment returns an RESP can grow to $80000-$120000 providing substantial funding for post-secondary education.
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Key Information
| Parameter | Details |
|---|---|
| CESG Match Rate | 20% on first $2500/year |
| Maximum CESG Per Year | $500 per child |
| Lifetime CESG Limit | $7200 per child |
| RESP Contribution Limit | $50000 lifetime per child |
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Use Calculator NowFrequently Asked Questions
How much CESG will I get?
Contributing $2500/year gets the maximum $500 CESG annually. Over 18 years: $9000 in CESG (lifetime cap is $7200 so contribute $2500 from birth to age 14.4 for maximum). Contributing less than $2500 gets 20% match proportionally. $1000/year = $200 CESG. Contributing more than $2500 does not increase the CESG for that year but provides more tax-sheltered growth.
How much should I contribute to RESP?
Minimum to maximize CESG: $2500/year ($208/month) from birth to age 14. This is the optimal amount because each dollar up to $2500 gets a 20% government match — essentially a guaranteed 20% instant return. Contributing more provides additional tax-sheltered growth but no extra grant. If budget is tight even $1000/year ($83/month) captures $200/year in free government money.
What happens to unused RESP money?
If your child does not attend post-secondary education within 36 years of opening the RESP: contributions are returned to you tax-free. Government grants (CESG) are returned to the government. Investment earnings can be withdrawn but are taxed at your marginal rate plus a 20% penalty — or transferred to your RRSP if you have contribution room (up to $50000). The beneficiary can also be changed to another child.
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Last updated: March 2026