Financial Tools

RESP Planner — Education Savings Calculator

Wondering how steady RESP contributions could actually grow over time? This calm RESP planner helps Canadian families understand:

How much your contributions and grants could grow by school age.
How much of your RESP balance comes from growth vs contributions.
How different monthly amounts change the final outcome.

Want to explore related questions? Try the Family Budget Planner, compare education savings with long-term investing in the TFSA Calculator or RRSP Growth Calculator, or see everything together in your Family Finance Snapshot Dashboard.

1. Enter Your RESP Details

Child’s current age (years)

Age when funds are needed

Current RESP balance ($)

Monthly contribution ($)

Estimated monthly grant/top-up ($)

Expected annual return (% per year)

This is a simplified projection. Actual RESP rules include CESG eligibility, annual and lifetime grant caps, and contribution limits.

* This RESP calculator is for educational purposes only and does not provide personalized financial, tax, or investment advice. Actual grant eligibility, contribution limits, investment returns, and tax outcomes may vary.

2. See Your Savings Picture

A calm snapshot of how education savings could grow over time.

Enter your details to see your projected education savings.

Savings timeline

⏱️ Years until goal

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🎓 Projected RESP value

Contributions vs growth

💰 Total contributions (you + grants)

📈 Estimated growth (earnings)

🌱 Share from growth

Enter your details to see how much comes from growth versus contributions.

Enter your child’s age, contribution, and return assumptions to see how this RESP could build over time.

As you get closer to your goal age, you may want to review your approach or compare savings in a TFSA or RRSP, depending on your broader plan.

How RESPs work in Canada

A Registered Education Savings Plan (RESP) is a tax-advantaged account designed to help Canadian families save for a child’s post-secondary education. Growth inside an RESP is tax-deferred until funds are withdrawn for education.

RESPs may also qualify for government grants, most notably the Canada Education Savings Grant (CESG). This tool uses a simplified “monthly grant/top-up” input to help you explore scenarios.