Canadian RESP & CESG Education Savings Calculator
Forecast your child's university education fund, including 20% federal CESG matching grants (up to $7,200 lifetime) and compound growth.
Forecast your child's university education fund, including 20% federal CESG matching grants (up to $7,200 lifetime) and compound growth.
Forecast your child's university education fund, including 20% federal CESG matching grants (up to $7,200 lifetime) and compound growth. Calculate exact, penny-accurate projections compliant with 2026 CRA • Bank of Canada standards using Calconova's deterministic IEEE-754 (Decimal.js) calculation engine with instant breakdowns.
16 years of growth to age 18
$2,500/year maximizes the $500 annual federal CESG grant.
Projected RESP Value at Age 18
$93,473.32
Provides ~$2,921.04/month for 4 university years (32 months)
Your Deposits
$45,000.00
CESG Grants
+$7,200.00
Compound Growth
+$41,273.32
Milestone Summary
• Free Federal Money Secured: $7,200.00
• Grant Utilization: 100% of $7,200 lifetime cap
• Tax-sheltered Investment Growth: $41,273.32
Portfolio = [Balance + Contribution + min(GrantRoom, 20% × Contrib)] × (1 + r)^tCalculates compound investment growth of self-funded contributions plus 20% federal CESG matching grants reinvested tax-sheltered until post-secondary matriculation.
All calculations, amortizations, and scenario projections displayed on this page are strictly for informational and educational purposes. Nothing herein constitutes investment, financial, tax, or legal advice. Actual CRA tax brackets, provincial taxes, Bank of Canada rates, and lender criteria may vary. Calconova explicitly disclaims all liability for any decisions taken based upon these calculations. Consult a qualified financial advisor or CPA prior to executing financial commitments.
The Government of Canada provides a 20% matching grant on the first $2,500 contributed annually into an RESP, providing up to $500 per year per child. The lifetime maximum CESG is $7,200 per beneficiary.
Yes! Unused grant room carries forward. You can catch up on one previous year of missed contributions per calendar year, allowing you to contribute up to $5,000 and receive up to $1,000 in CESG grant in a single year.
Your original contributions can be withdrawn completely tax-free at any time. The CESG grants and investment growth are withdrawn as Educational Assistance Payments (EAPs) and taxed in the student's hands. Because students typically have low incomes and high tuition tax credits, they usually pay little to zero income tax!
Calculate combined Canadian federal and provincial income taxes, net take-home pay, and average tax rate across all 10 provinces and 3 territories.
Calculate employee and employer statutory payroll deductions for Canada Pension Plan (CPP, CPP2) and Employment Insurance (EI).
Calculate sales taxes across Canada including 5% GST, provincial PST/RST/QST, or combined HST (13% - 15%) before and after tax.