How much should I put in an RESP each year?

$2,500 per child, or $208 a month. That earns the full $500 basic CESG for the year. Extra money above that earns no grant, unless you have unused room from earlier years, so it is often better in a TFSA. After 14.4 years of $2,500 the grant hits its $7,200 lifetime cap.

Can I catch up if I started late?

Yes. Grant room builds from birth whether or not an RESP exists. You can claim up to $1,000 of basic grant in one year on $5,000 of contributions. A child who starts at 8 can still reach the full $7,200 before the grant stops at the end of the year they turn 17.

What is the Canada Learning Bond?

$500 in the first year, then $100 a year until the child turns 15, up to $2,000. It goes to families with income up to about $58,500, or more with four or more children. You do not need to contribute. You just have to open an RESP.

What are the Quebec and BC grants?

Quebec's QESI adds 10% of contributions, up to $250 a year and $3,600 lifetime, with carry-forward. BC pays a one-time $1,200 grant if you apply between the child's 6th and 9th birthdays. No contribution is needed.

What happens if my child doesn't go to school?

Your contributions come back tax-free. The grants go back to the government. Growth can move to your RRSP, up to $50,000 if you have room, or be withdrawn with tax plus a 20% penalty. The plan can stay open for 35 years.

How are withdrawals taxed?

Grants and growth are taxed in the student's hands, usually at little or no tax. Your own contributions come out tax-free at any time.

Is there a deadline each year?

December 31. Grant is paid on the year you contribute. To get grant in the years your child is 16 and 17, you need either $2,000 of total contributions or $100 a year in four years before the year they turn 16.

Is a big lump sum at birth better than monthly contributions?

For growth, yes. For the grant, no. The grant is capped at $500 a year, so $50,000 on day one earns only $500 of grant that year. A common approach is $2,500 a year for the grant, plus any extra lump sum, up to the $50,000 lifetime contribution limit.

What are the extra grants for lower incomes?

Families with net income under about $58,000 get an extra 20% on the first $500 contributed, which is $100. Under about $117,000 the extra is 10%, or $50. The Canada Learning Bond adds up to $2,000 with no contribution.

RESP Calculator with CESG (2026)

See how much government grant money your RESP will collect and what it is worth when your child turns 18. It includes the extra grants for lower incomes and the Quebec and BC top-ups. You also get the monthly amount that earns the full grant, about $208, and a catch-up plan if you started late.

Free grant money you collect$7,200On $44,928 of contributions, the RESP is worth about $82,707 when your child turns 18, assuming 5% a year. That is the full $7,200 lifetime grant.

Your contributionsGovernment grants

What goes in each year until your child turns 18: yours in blue, free grant money in green.

Your contributions	$44,928.00
Basic CESG (20%)	$6,500.00
Additional CESG (lower income)	$700.00
Investment growth	$30,579.48
Total at 18	$82,707.48

Year by year

Age	Contribution	CESG	Other grants	Value
0	$2,496	$549	$0	$3,045
1	$2,496	$549	$0	$6,243
2	$2,496	$549	$0	$9,600
3	$2,496	$549	$0	$13,125
4	$2,496	$549	$0	$16,827
5	$2,496	$549	$0	$20,713
6	$2,496	$549	$0	$24,794
7	$2,496	$549	$0	$29,079
8	$2,496	$549	$0	$33,578
9	$2,496	$549	$0	$38,302
10	$2,496	$549	$0	$43,263
11	$2,496	$549	$0	$48,471
12	$2,496	$549	$0	$53,940
13	$2,496	$60	$0	$59,193
14	$2,496	$0	$0	$64,649
15	$2,496	$0	$0	$70,377
16	$2,496	$0	$0	$76,392
17	$2,496	$0	$0	$82,707

Rules that trip people up. The grant is $500 a year on $2,500, up to $7,200 over the child's life. Unused years carry forward, but you can only collect $1,000 of grant in one year (on $5,000). Grants stop after the year the child turns 17. For ages 16 and 17 they are paid only if $2,000 was contributed (or $100 a year for four years) before the year they turned 16. A big lump sum early gets more growth but not more grant.

Show the math

Each year to 17: CESG = 20% of the contribution, capped at $500 plus unused room (max $1,000 a year) and $7,200 lifetime. Additional CESG adds 20% or 10% on the first $500 for family income up to $58,523 or $117,045. The Canada Learning Bond pays $500 then $100 a year to 15 for income up to $58,523. QESI adds 10% up to $250 a year in Quebec. BC adds $1,200 at age 6. Contributions stop at the $50,000 limit. Growth compounds at your return. Tax on withdrawals (EAPs in the student's hands) is not modelled.

How this calculator works

Each year until your child turns 17, the calculator adds your contribution and the grants it earns:

Basic CESG: 20% of what you put in, up to $500 a year plus carry-forward room. At most $1,000 of grant in one year and $7,200 in a lifetime.
Additional CESG: an extra 20% (family income up to $58,523) or 10% (up to $117,045) on the first $500.
Canada Learning Bond: $500 in the first year, then $100 a year for lower-income families. No contribution needed.
Quebec QESI (10%, up to $250 a year) or BC’s $1,200 at age 6.

The balance grows at the return you choose. Contributions stop at the $50,000 lifetime limit.

Worked example: newborn, $2,500 a year, $100,000 family income, 5% return, Ontario

Line	Amount
Contributions to 17	$45,000
Basic CESG	$6,500
Additional CESG (10% on the first $500 a year at this income)	$700
Growth	$30,625
Value at 18	$82,825

Assumptions

You contribute every year until 17 and meet the 16/17 rule.
Carried-forward grant room is estimated from the child’s age and grants already received.
Returns are constant and untaxed inside the plan. Tax on withdrawals is not modelled.

How to get the RESP grants

The government pays the grants into the RESP. You never apply to Ottawa yourself. Open the account and the provider applies for you.

Get a Social Insurance Number for the child (free, at Service Canada or online). Every grant needs it.Apply for a SIN ↗
Open an RESP at a bank, credit union, robo-advisor or discount brokerage. Ask for a plan with no enrolment fees. Avoid group scholarship plans that charge penalties for missed contributions.Registered Education Savings Plans ↗
Fill in the grant form at the provider (form ESDC SDE 0093). This one form asks for the basic CESG, the additional CESG for lower incomes and the Canada Learning Bond.Canada Education Savings Grant ↗
Contribute $2,500 a year to get the full $500 grant. Put in $5,000 a year to catch up one missed year at a time. Money must land by December 31.
Lower-income families get the Canada Learning Bond ($500 then $100 a year, up to $2,000) with no contribution at all. Ask the provider to request it.Canada Learning Bond ↗

You may also qualify for

Québec Education Savings Incentive (QESI) ↗ 10% extra on contributions for Quebec residents. The provider applies to Revenu Québec.
BC Training and Education Savings Grant ↗ A one-time $1,200 for BC children between their 6th and 9th birthdays. Apply through the provider.

Common questions

Frequently asked questions

How much should I put in an RESP each year?: $2,500 per child, or $208 a month. That earns the full $500 basic CESG for the year. Extra money above that earns no grant, unless you have unused room from earlier years, so it is often better in a TFSA. After 14.4 years of $2,500 the grant hits its $7,200 lifetime cap.
Can I catch up if I started late?: Yes. Grant room builds from birth whether or not an RESP exists. You can claim up to $1,000 of basic grant in one year on $5,000 of contributions. A child who starts at 8 can still reach the full $7,200 before the grant stops at the end of the year they turn 17.
What is the Canada Learning Bond?: $500 in the first year, then $100 a year until the child turns 15, up to $2,000. It goes to families with income up to about $58,500, or more with four or more children. You do not need to contribute. You just have to open an RESP.
What are the Quebec and BC grants?: Quebec's QESI adds 10% of contributions, up to $250 a year and $3,600 lifetime, with carry-forward. BC pays a one-time $1,200 grant if you apply between the child's 6th and 9th birthdays. No contribution is needed.
What happens if my child doesn't go to school?: Your contributions come back tax-free. The grants go back to the government. Growth can move to your RRSP, up to $50,000 if you have room, or be withdrawn with tax plus a 20% penalty. The plan can stay open for 35 years.
How are withdrawals taxed?: Grants and growth are taxed in the student's hands, usually at little or no tax. Your own contributions come out tax-free at any time.
Is there a deadline each year?: December 31. Grant is paid on the year you contribute. To get grant in the years your child is 16 and 17, you need either $2,000 of total contributions or $100 a year in four years before the year they turn 16.
Is a big lump sum at birth better than monthly contributions?: For growth, yes. For the grant, no. The grant is capped at $500 a year, so $50,000 on day one earns only $500 of grant that year. A common approach is $2,500 a year for the grant, plus any extra lump sum, up to the $50,000 lifetime contribution limit.
What are the extra grants for lower incomes?: Families with net income under about $58,000 get an extra 20% on the first $500 contributed, which is $100. Under about $117,000 the extra is 10%, or $50. The Canada Learning Bond adds up to $2,000 with no contribution.

Sources

Every figure on this page comes from one of these primary sources. Data last verified September 7, 2026.

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Data verified for tax year 2026: September 7, 2026 Updated September 7, 2026 By Nishant Malik, founder of GlassLayer