A Registered Education Savings Plan (RESP) is a government-registered, tax-advantaged savings vehicle that helps you save for a child's post-secondary education. Use our RESP calculator to see how your investments could grow over time.
Based on your contributions and potential government grants plus any projected increases in the value of your investments, your RESP savings could grow to approximately:
If the total education cost is: | $79,322.89 |
Total shortfall/surplus | +$14,512.59 |
This estimation is based on the accuracy and completeness of the information you enter and on certain assumptions. The results are intended for illustrative purposes only, and do not constitute, nor should they be relied upon as, financial, tax, or legal advice.
| Your child | |
|---|---|
| Years saving with RESP | 18 |
| Contributions | $49,999.68 |
| Government grants | $7,200.00 |
| Growth of investments | $36,635.80 |
| Total RESP savings | $93,835.48 |
| Total education cost | $79,322.89 |
| Total shortfall/surplus | +$14,512.59 |
This estimation is based on the accuracy and completeness of the information you enter and on certain assumptions. The results are intended for illustrative purposes only, and do not constitute, nor should they be relied upon as, financial, tax, or legal advice.