The free money in an RESP
The Canada Education Savings Grant (CESG) adds 20 % to what you contribute to a child's Registered Education Savings Plan. The basic grant is up to $500 a year, on $2,500 of contributions. Unused grant room carries forward, and you can catch up one year at a time: up to $1,000 of grant in a year, on $5,000 of contributions. The lifetime maximum is $7,200 per child.
In British Columbia, the BC Training and Education Savings Grant (BCTESG) adds a one-time $1,200 for children born in 2006 or later. You apply between the child's 6th and 9th birthdays, and no contribution is needed.
What this calculator shows
Enter the child's age and the annual contribution, and choose BC if the child lives there. The calculator projects the plan to age 18 and splits it into what you contributed, the government grants and the growth. It also shows any CESG left unclaimed at your contribution level.
Returns use the FP Canada 2026 projection guidelines and are shown after fees: Cautious 3.2 %, Balanced 4.5 %, Growth 5.1 % a year. You can change the return and the fee; a higher figure is an optimistic scenario, not a forecast.
With fewer than six years to go, the calculator starts from the cautious return, because money needed soon shouldn't depend on the stock market.
What it doesn't include
Lower-income families can also receive the Additional CESG and the Canada Learning Bond, which depend on family income. They aren't included here, so the projection may understate what an eligible family receives.
A quick example
Contribution × 20 % = grant, up to $500 a year. $2,500 a year collects the full $500. Doing that for 14 years and putting in $1,000 the year after reaches the $7,200 lifetime maximum ($500 × 14 + $200). Starting at birth leaves time to spare; starting later means using the catch-up year by year.
Common questions
How much is the CESG?
20 % of contributions: up to $500 a year ($1,000 with one year of catch-up) and $7,200 per child in total.
Who gets the BC grant?
BC children born in 2006 or later. It is a one-time $1,200, applied for between ages 6 and 9, and no contribution is required.
Is it too late to catch up on missed grants?
Grant room carries forward until the end of the year the child turns 17, but you can catch up only one extra year at a time — at most $1,000 of grant a year. Starting earlier claims more.