Education Planning Calculator

Net family income (maximum value $150,000)

Net Family Income
Your adjusted net family income is used to calculate an additional CESG grant amount where applicable.

Annual RESP contribution (maximum value $5,000)

Annual RESP Contribution
There is no annual RESP contribution limit but there is a lifetime maximum limit of $50,000.

Input Error:
Annual RESP Contribution
You have exceeded the $50,000 maximum lifetime limit by . Enter a lower Annual RESP contribution amount, or decrease the number of contribution years.

Contribute for (maximum 18 years)

Input Error: Contribute for (years)
The maximum value you can enter is 18 years.

Years delayed (maximum years)

Input Error: Years delayed
You cannot enter a value greater than years of growth.

Rate of return (maximum value 16%)

6.00%

Input Error: Rate of return
Enter a value between and %.

RESP value in 18 years

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Wait 5 years

Cost of waiting

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Assumptions

Annual RESP contributions are made at the start of each year. Calculations include the basic CESG (20%) and the additional CESG that is based on family income. Calculations use income tax brackets as of . Provincial grants are not included in the calculations.

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Use this calculator to see the cost of waiting to invest in an RESP.

Net family income:	$75,000
Annual RESP contribution:	$2,000
Contribute for (years)::	25
Years delayed:	5
Rate of return:	6.00%

Assumptions
Annual RESP contributions are made at the start of each year. Calculations include the basic CESG (20%) and the additional CESG that is based on family income. Calculations use income tax brackets as of . Provincial grants are not included in the calculations.

Disclaimer