RESP (Registered Education Savings Plan) Calculator
Interactive tool to calculate contributions and government grants for Registered Education Savings Plans (RESP) in Canada.
Calculate Your RESP
Full original guide (expanded)
RESP (Registered Education Savings Plan) Calculator
This calculator helps Canadian families plan for their children's education by estimating the savings and potential government grants available through a Registered Education Savings Plan (RESP).
Results
Data Source and Methodology
This calculator is based on the Canadian government's RESP guidelines, including the Canada Education Savings Grant (CESG). All calculations use data provided by the official government sources.
The Formula Explained
The basic formula for RESP savings: Total Savings = Annual Contribution × Years + Government Grant
Glossary of Variables
- Annual Contribution: The amount you plan to contribute each year.
- Years of Contribution: The number of years you plan to contribute.
- Government Grant: The estimated grant from the government.
- Total Savings: The total amount saved including contributions and grants.
Frequently Asked Questions (FAQ)
What is an RESP?
A Registered Education Savings Plan (RESP) is a savings account in Canada designed to help save for a child's post-secondary education.
How much can I contribute to an RESP?
You can contribute up to $50,000 per child over the lifetime of the plan.
What is the Canada Education Savings Grant (CESG)?
The CESG is a government grant that matches a percentage of contributions to an RESP, up to a certain limit.
How are RESP contributions taxed?
Contributions are not tax-deductible, but the earnings on the investments grow tax-free until withdrawal.
Can anyone open an RESP?
Yes, anyone can open an RESP for a child, including parents, guardians, grandparents, or friends.
Formula (LaTeX) + variables + units
','
{totalContribution.toFixed(2)}`; document.getElementById('governmentGrant').textContent = `
The basic formula for RESP savings: Total Savings = Annual Contribution × Years + Government Grant
- T = property tax (annual or monthly depending on input) (currency)
- NIST — Weights and measures — nist.gov · Accessed 2026-01-19
https://www.nist.gov/pml/weights-and-measures - FTC — Consumer advice — consumer.ftc.gov · Accessed 2026-01-19
https://consumer.ftc.gov/
Last code update: 2026-01-19
- Initial audit spec draft generated from HTML extraction (review required).
- Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
- Confirm sources are authoritative and relevant to the calculator methodology.
RESP (Registered Education Savings Plan) Calculator
This calculator helps Canadian families plan for their children's education by estimating the savings and potential government grants available through a Registered Education Savings Plan (RESP).
Calculate Your RESP
Results
Data Source and Methodology
This calculator is based on the Canadian government's RESP guidelines, including the Canada Education Savings Grant (CESG). All calculations use data provided by the official government sources.
The Formula Explained
The basic formula for RESP savings: Total Savings = Annual Contribution × Years + Government Grant
Glossary of Variables
- Annual Contribution: The amount you plan to contribute each year.
- Years of Contribution: The number of years you plan to contribute.
- Government Grant: The estimated grant from the government.
- Total Savings: The total amount saved including contributions and grants.
Frequently Asked Questions (FAQ)
What is an RESP?
A Registered Education Savings Plan (RESP) is a savings account in Canada designed to help save for a child's post-secondary education.
How much can I contribute to an RESP?
You can contribute up to $50,000 per child over the lifetime of the plan.
What is the Canada Education Savings Grant (CESG)?
The CESG is a government grant that matches a percentage of contributions to an RESP, up to a certain limit.
How are RESP contributions taxed?
Contributions are not tax-deductible, but the earnings on the investments grow tax-free until withdrawal.
Can anyone open an RESP?
Yes, anyone can open an RESP for a child, including parents, guardians, grandparents, or friends.
Formula (LaTeX) + variables + units
','
{totalContribution.toFixed(2)}`; document.getElementById('governmentGrant').textContent = `
The basic formula for RESP savings: Total Savings = Annual Contribution × Years + Government Grant
- T = property tax (annual or monthly depending on input) (currency)
- NIST — Weights and measures — nist.gov · Accessed 2026-01-19
https://www.nist.gov/pml/weights-and-measures - FTC — Consumer advice — consumer.ftc.gov · Accessed 2026-01-19
https://consumer.ftc.gov/
Last code update: 2026-01-19
- Initial audit spec draft generated from HTML extraction (review required).
- Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
- Confirm sources are authoritative and relevant to the calculator methodology.
RESP (Registered Education Savings Plan) Calculator
This calculator helps Canadian families plan for their children's education by estimating the savings and potential government grants available through a Registered Education Savings Plan (RESP).
Calculate Your RESP
Results
Data Source and Methodology
This calculator is based on the Canadian government's RESP guidelines, including the Canada Education Savings Grant (CESG). All calculations use data provided by the official government sources.
The Formula Explained
The basic formula for RESP savings: Total Savings = Annual Contribution × Years + Government Grant
Glossary of Variables
- Annual Contribution: The amount you plan to contribute each year.
- Years of Contribution: The number of years you plan to contribute.
- Government Grant: The estimated grant from the government.
- Total Savings: The total amount saved including contributions and grants.
Frequently Asked Questions (FAQ)
What is an RESP?
A Registered Education Savings Plan (RESP) is a savings account in Canada designed to help save for a child's post-secondary education.
How much can I contribute to an RESP?
You can contribute up to $50,000 per child over the lifetime of the plan.
What is the Canada Education Savings Grant (CESG)?
The CESG is a government grant that matches a percentage of contributions to an RESP, up to a certain limit.
How are RESP contributions taxed?
Contributions are not tax-deductible, but the earnings on the investments grow tax-free until withdrawal.
Can anyone open an RESP?
Yes, anyone can open an RESP for a child, including parents, guardians, grandparents, or friends.
Formula (LaTeX) + variables + units
','
{totalContribution.toFixed(2)}`; document.getElementById('governmentGrant').textContent = `
The basic formula for RESP savings: Total Savings = Annual Contribution × Years + Government Grant
- T = property tax (annual or monthly depending on input) (currency)
- NIST — Weights and measures — nist.gov · Accessed 2026-01-19
https://www.nist.gov/pml/weights-and-measures - FTC — Consumer advice — consumer.ftc.gov · Accessed 2026-01-19
https://consumer.ftc.gov/
Last code update: 2026-01-19
- Initial audit spec draft generated from HTML extraction (review required).
- Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
- Confirm sources are authoritative and relevant to the calculator methodology.