Build Your RESP Savings

Build Your RESP Savings

Build Your Resp Savings

Calculate how much you could grow your RESP savings to meet your child’s school and education expenses.

Considerations

  • You are only permitted to contribute for the first 31 years of the beneficiary’s (student’s) life.
  • The maximum total contribution is $50,000.
  • The Federal government contributes up to 20% (to a maximum of $7,200) of your contribution in a grant amount not exceeding $500 per year. This is called the CANADA EDUCATION GRANT (CEG).

NOTE: The calculator compares the benefits of different contribution frequencies.