Canada RESP Calculator: Registered Education Savings Plan Growth
Estimate what a Canadian RESP grows to from a starting balance plus regular monthly contributions — the registered account for education savings, where growth is tax-deferred and the government adds a matching grant.
Adjust the inputs and select Calculate for a full breakdown.
Year-by-year growth schedule
Compare Common Scenarios
How the numbers shift across typical situations for this calculator:
| Scenario | Future value | Total contributions | Total interest earned |
|---|---|---|---|
| $250/mo · 6% · 18yr | $96,838.30 | $54,000.00 | $42,838.30 |
| $208/mo · 6% · 18yr (~$2,500/yr) | $80,569.46 | $44,928.00 | $35,641.46 |
| $5k + $300/mo · 7% · 15yr | $109,333.42 | $59,000.00 | $50,333.42 |
| $0 + $150/mo · 5% · 10yr | $23,292.34 | $18,000.00 | $5,292.34 |
How This Calculator Works
Enter your current RESP balance, monthly contribution, the return you expect, and the years until the money is needed. The calculator compounds the balance monthly and shows the projected value and the growth. Note this estimate counts only your own contributions and their growth — it doesn't add the Canada Education Savings Grant (CESG), which would boost the real total.
The Formula
Future Value with Regular Contributions
P = starting amount, PMT = monthly contribution, r = monthly rate (annual ÷ 12), n = number of months
Worked Example
$250 a month for 18 years at 6% grows to about $96,838, with roughly $42,838 of that being growth — before adding the CESG. A Registered Education Savings Plan (RESP) is Canada's tax-sheltered account for saving toward a child's post-secondary education. Contributions aren't tax-deductible, but investments grow tax-deferred, and crucially the government adds the Canada Education Savings Grant — 20% on the first $2,500 contributed each year (up to $500 annually per child) — making it one of the best-supported savings vehicles for families.
Key Insight
The RESP is uniquely valuable among Canadian savings accounts because of the government grant, so the headline growth understates the real return. The structure: your contributions aren't tax-deductible (unlike an RRSP), but the account grows tax-deferred, and the standout feature is the Canada Education Savings Grant (CESG) — the government matches 20% of contributions on the first $2,500 per year, i.e. up to $500 a year per child, to a lifetime maximum of $7,200. Lower-income families can receive additional CESG and the Canada Learning Bond (which requires no contribution). This calculator counts only your contributions and their growth, so add the CESG to see the true total — over many years the grant plus its compounding is substantial. The lifetime contribution limit is $50,000 per beneficiary (there's no annual contribution cap, but to capture the full annual CESG you generally contribute about $2,500/year, and you can carry forward unused grant room to catch up one prior year at a time). Withdrawals split into two parts: your original contributions come out tax-free (they were after-tax), while the growth and grants are paid as Educational Assistance Payments (EAPs) taxed in the student's hands — usually at a very low or zero rate given a student's low income, which is the tax advantage. If the child doesn't pursue eligible studies, options include transferring to another beneficiary or your RRSP (conditions apply), but the grants must be repaid and growth withdrawn as non-educational income can face tax plus a surtax. This calculator gives a gross, constant-return projection of your own contributions and omits the CESG and fees; in practice contribute to capture the full grant, favour low-cost investments, and plan EAP withdrawals while the student's tax rate is low.
Frequently Asked Questions
How is RESP growth calculated?
Your balance and monthly contributions compound at the expected return (annual rate ÷ 12 per month). $250/month for 18 years at 6% grows to about $96,838, with roughly $42,838 of growth — and this is before adding the CESG government grant, which boosts the real total.
What is an RESP?
A Registered Education Savings Plan — Canada's tax-sheltered account for saving toward a child's post-secondary education. Contributions aren't tax-deductible, but growth is tax-deferred, and the government adds the Canada Education Savings Grant (CESG), matching 20% of contributions up to $500 a year per child.
What is the CESG?
The Canada Education Savings Grant — the government matches 20% of your contributions on the first $2,500 per year (up to $500 annually per child), to a lifetime maximum of $7,200. Lower-income families can get additional CESG and the Canada Learning Bond. This calculator doesn't add the grant, so the real total is higher.
How much can I contribute to an RESP?
There's no annual contribution cap, but a lifetime limit of $50,000 per beneficiary. To capture the full annual CESG you generally contribute about $2,500 per year, and you can carry forward unused grant room to catch up one prior year at a time (up to $1,000 of CESG in a year).
How are RESP withdrawals taxed?
Your original contributions come out tax-free. The growth and grants are paid as Educational Assistance Payments (EAPs), taxed in the student's hands — usually at a very low or zero rate given a student's low income. If the child doesn't pursue eligible studies, grants must be repaid and other rules apply.
Related Calculators
Methodology & Review
The future value compounds a starting balance plus a fixed monthly contribution at the annual return, compounded monthly. It assumes a constant return and end-of-month deposits, and does not add the Canada Education Savings Grant (CESG) government match, model fees, or apply the lifetime contribution limit.
Written by Ugo Candido · Last updated May 22, 2026.