Education Savings Calculator
There's no questioning the value of a good education, but what about an RESP? Get a clearer picture of what you’ll need to save for your child's education with the help of this calculator.
Error
- The age must be between 15 and 35.
- The age must be younger than when the child will begin post-secondary education.
- Length of study must be between 1 and 10 years.
- Annual inflation rate must be between 0% and 10%.
- Annual rate of return must be between 0.001% and 50%.
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Year
Child's Age
Individual Contributions
Government Grants
Living Expenses and Tuition
Projected Earnings
Balance
1
0
$6,000.00
$600.00
$330.00
$6,930.00
2
1
$6,000.00
$600.00
$676.50
$14,206.50
3
2
$6,000.00
$600.00
$1,040.33
$21,846.83
4
3
$6,000.00
$600.00
$1,422.34
$29,869.17
5
4
$6,000.00
$600.00
$1,823.46
$38,292.62
6
5
$6,000.00
$600.00
$2,244.63
$47,137.26
7
6
$6,000.00
$600.00
$2,686.86
$56,424.12
8
7
$6,000.00
$600.00
$3,151.21
$66,175.32
9
8
$6,000.00
$600.00
$3,638.77
$76,414.09
10
9
$6,000.00
$600.00
$4,150.70
$87,164.80
11
10
$6,000.00
$600.00
$4,688.24
$98,453.04
12
11
$6,000.00
$600.00
$5,252.65
$110,305.69
13
12
$6,000.00
$5,815.28
$122,120.97
14
13
$6,000.00
$6,406.05
$134,527.02
15
14
$6,000.00
$7,026.35
$147,553.37
16
15
$6,000.00
$7,677.67
$161,231.04
17
16
$6,000.00
$8,361.55
$175,592.59
18
17
$6,000.00
$9,079.63
$190,672.22
19
18
$11,917.03
$8,937.76
$187,692.95
20
19
$12,274.54
$8,770.92
$184,189.33
21
20
$12,642.78
$8,577.33
$180,123.88
22
21
$13,022.06
$8,355.09
$175,456.90
Error
- The age must be between 15 and 35.
- The age must be younger than when the child will begin post-secondary education.
- Length of study must be between 1 and 10 years.
- Annual inflation rate must be between 0% and 10%.
- Annual rate of return must be between 0.001% and 50%.
Information provided by our online calculators shouldn't be taken as investment or borrowing advice. Because everyone’s situation is unique, calculations and projections only provide general guidance. Calculators can be helpful tools but you should call our Contact Centre at 1.866.863.6237 for advice and information tailored to your specific situation.