How much does the government actually add to an RESP?

The Basic Canada Education Savings Grant (CESG) matches 20% of RESP contributions, up to $500 per year and a lifetime maximum of $7,200 per child. Lower- and middle-income families can receive more through the Additional CESG, and the Canada Learning Bond adds up to $2,000 with no contributions required.

What happens to an RESP if my child doesn't go to university?

RESPs cover more than university: college, trade schools, apprenticeships, and CEGEP all qualify. If the child doesn't pursue post-secondary education, options include keeping the plan open (about 35 years), transferring it to a sibling, or moving the investment growth into an RRSP if conditions are met. Grant money is returned to the government only if it is never used for education.

Is money in an RESP locked in?

No. Your own contributions remain yours and can be withdrawn, but withdrawing them before the child studies can require repaying government grants, so timing matters.

Do I need a high income for an RESP to be worth it?

No. The Canada Learning Bond provides eligible lower-income families up to $2,000 with no contributions required, and even small monthly contributions earn the 20% CESG match.

RESP & Government Grants — made simple

There’s free money for your child’s education. Let’s go get it.

Understand RESPs, claim every government grant you’re owed, and work with a licensed Canadian advisor who keeps it simple — no jargon, no pressure.

See how much you qualify for Book a free call

Licensed advisor · LLQP, Ontario Proudly Canadian Up to $7,200 in free grants

Free government grants

Free Government Money Estimator

See how much your child's RESP could grow — and how much is free.

Move the sliders to see your estimated savings by age 18, including the Canada Education Savings Grant (CESG) the government adds on top of what you put in.

Child's age today 2 yrs

Newborn17

Monthly contribution $150/mo

$0$500

Assumed annual return 5%

0%8%

Estimated RESP value

by age 18

Your contributionsWhat you put in $0

Government grants (CESG)Free money added by Canada $0

Investment growthTax-sheltered, not guaranteed $0

Want your exact numbers — including income-based grants and the Canada Learning Bond?

Talk to Harpreet — licensed RESP advisor

Harpreet Singh, LLQP (Ontario) • or call 647 621 7890

This calculator runs entirely in your browser. We don't store or see your numbers. Estimate for general information only — not financial, investment, or tax advice. The Basic CESG matches 20% of contributions up to $500 per year, to a lifetime maximum of $7,200 per child; the RESP contribution limit is $50,000 per child. Lower- and middle-income families may qualify for Additional CESG and the Canada Learning Bond (up to $2,000). Actual grants depend on your family income and contribution history. Investment returns are not guaranteed. Grant figures per Canada.ca.

How it works

Three steps to your child's education fund.

From first question to growing RESP — simpler than you think, and you're never doing it alone.

Talk it through

A free call — your child's age, your budget, your questions. Plain answers, no jargon, no pressure to buy anything.

Open it right

We set up your RESP properly and apply for every grant your child qualifies for — including the income-based ones many families never hear about.

Watch it grow

Your contributions and the government's grants get invested for the years ahead — and we review together as your child grows.

Why RESP Guru

The part an app can't do.

Robo-advisors and bank platforms are fine at holding an account. Getting every dollar you're entitled to — and a plan that fits your family — takes a person.

Every grant, actually claimed

The Additional CESG and the Canada Learning Bond (up to $2,000) depend on family income — and not every platform supports them. We make sure your plan does, and that every dollar you qualify for is applied for.

A plan for your family

Two kids or four, starting late or early, catch-up room, and how to time withdrawals when school actually starts — the decisions an algorithm doesn't ask about.

A person who answers

New job, new city, a child who chooses a trade over a degree — when life changes, you talk to someone who knows your file, not a help-centre queue.

Licensed and accountable

You work with a licensed advisor — with the disclosure and suitability duties that come with the licence. Advice with a name on it.

Harpreet Singh · Licensed advisor (LLQP, Ontario) · Proudly Canadian

Good questions

The things every parent asks.

How much does the government actually add?

20% on top of what you save — the Basic CESG matches 20% of your contributions, up to $500 per year and $7,200 lifetime per child. Lower- and middle-income families can receive more through the Additional CESG, and the Canada Learning Bond adds up to $2,000 with no contributions required.

What if my child doesn't go to university?

RESPs cover far more than university — college, trade schools, apprenticeships, and CEGEP all qualify. And if your child doesn't pursue any of them, you still have options: keep the plan open (RESPs can stay open about 35 years), transfer to a sibling, or move the growth into your RRSP if conditions are met. Grant money returns to the government only if it's never used for education.

Is my money locked in?

No — your own contributions stay yours and can be withdrawn. But pulling them out before your child studies can mean repaying grants, so timing matters. Planning those withdrawals properly is part of what we do together.

Do I need a big income for this to be worth it?

No — it's often worth more at modest incomes. The Canada Learning Bond gives eligible families up to $2,000 with zero contributions required, and even small monthly amounts earn the 20% match. Starting small still beats not starting.

Have a different question? Ask on a free call →

Figures per Canada.ca and subject to change by the Government of Canada. This page is general information, not financial, investment, insurance, or tax advice.