RESP grant calculator
See how much the government adds to your child’s education savings, and what the RESP could be worth when they turn 18.
Estimated value at age 18
$74,000
Free money from government
$7,200
You put in
$40,000
Grants
$7,200
Learning Bond
$0
Growth
$26,800
At this income you get an extra 10% on the first $500 each year (up to $50 more).
Year-by-year breakdown
| Age | You | Grant | Bonus | Bond | Balance |
|---|---|---|---|---|---|
| 2 | $2,500 | $500 | $50 | $0 | $3,203 |
| 3 | $2,500 | $500 | $50 | $0 | $6,565 |
| 4 | $2,500 | $500 | $50 | $0 | $10,096 |
| 5 | $2,500 | $500 | $50 | $0 | $13,803 |
| 6 | $2,500 | $500 | $50 | $0 | $17,696 |
| 7 | $2,500 | $500 | $50 | $0 | $21,783 |
| 8 | $2,500 | $500 | $50 | $0 | $26,075 |
| 9 | $2,500 | $500 | $50 | $0 | $30,581 |
| 10 | $2,500 | $500 | $50 | $0 | $35,313 |
| 11 | $2,500 | $500 | $50 | $0 | $40,281 |
| 12 | $2,500 | $500 | $50 | $0 | $45,497 |
| 13 | $2,500 | $500 | $50 | $0 | $50,975 |
| 14 | $2,500 | $500 | $50 | $0 | $56,726 |
| 15 | $2,500 | $50 | $0 | $0 | $62,240 |
| 16 | $2,500 | $0 | $0 | $0 | $67,977 |
| 17 | $2,500 | $0 | $0 | $0 | $74,000 |
Common questions
How much does the government add to an RESP?
The Canada Education Savings Grant adds 20% on the first $2,500 you contribute each year, which is $500 a year per child, up to $7,200 per child in total. Unused grant room carries forward, so you can catch up by contributing up to $5,000 in a year for up to $1,000 in grants. In 2026, families with income up to $58,523 get an extra 20% on the first $500 contributed each year, and families with income up to $117,045 get an extra 10%. Lower-income families may also get the Canada Learning Bond, up to $2,000 per child with no contribution needed.