RESP Contribution Visualizer

This RESP (Registered Education Savings Plan) calculator helps Canadian families understand different contribution strategies to maximize government grants while planning for education costs. The calculator compares two distinct approaches: "Maximize CESG" which contributes exactly $2,500 annually to capture the maximum 20% Canada Education Savings Grant efficiently, versus "Maximize Growth" which front-loads contributions early to benefit from longer compound growth periods while still capturing available CESG grants through carry-forward provisions. Understanding RESP grant mechanics is crucial because the federal government provides up to $7,200 in lifetime CESG grants (20% match on the first $2,500 contributed each year), and provincial residents can access additional benefits: BC families receive a one-time $1,200 BC Training and Education Savings Grant (BCTESG) when the child turns 6, while Quebec families earn an additional 10% match through the Quebec Education Savings Incentive (QESI) up to $3,600 lifetime. The calculator models how these grants accumulate over time, accounting for important rules like CESG carry-forward (up to $1,000 annually if you have unused room), the CESG cutoff at age 17, and the $50,000 lifetime RESP contribution limit per beneficiary. By providing year-by-year projections showing contributions, grants received, investment growth, and portfolio value, this tool demonstrates how different strategies affect long-term education savings outcomes without providing financial advice.