How much will the RESP grow with the grant?
Enter the child’s age this year, what is in the RESP now, the grants already received and what you plan to put in each year.
Your estimate
What the calculator assumes.
The grant. The basic Canada Education Savings Grant is 20% of contributions. $500 of grant room is added each year and unused room carries forward, so you can get up to $1,000 in a year by contributing $5,000. Lower- and middle-income families also get 20% or 10% on the first $500 each year, which does not carry forward. The lifetime maximum is $7,200 per child, paid until the end of the year the child turns 17. Source: Canada Revenue Agency.
Not included. The Canada Learning Bond for lower-income families, provincial grants such as Quebec’s QESI and BC’s BCTESG, and the extra conditions for children aged 16 and 17. Returns are not guaranteed.