Education Planner
See how you much you need to save for post-secondary education.
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Education costs
| Child's name |
Child 1
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0
Current age
Enter zero if the child is a newborn. |
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18
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4
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8,000
Tuition fees
Average undergraduate tuition fees for 2022/2023 by province:
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3.00%
Tuition inflation rate
Undergraduate tuition fees increased by an average of 2.62% per year from 2006 to 2022. |
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12,000
Room & board
The cost of accomodation and meals can range from $10,000 to $20,000 per school year. |
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5.00%
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| Total annual cost |
20,000
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RESP Savings
RESP current value (maximum value $250,000)
RESP principal
CESG principal (maximum value $7,200)
RESP contributions
Annual RESP contribution (maximum value $50,000)
Start contributions at age
Stop contributions at age
Rate of return (maximum value %)
Made at age
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0
RESP current value
Enter the current value, including all contributions and growth. |
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0
RESP principal
Enter the total amount contributed to the RESP so far. Do not include growth or earnings. |
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0
CESP principal
Enter the total amount of CESG you have received so far. Do not include growth or earnings. |
| Family after-tax income |
Family income
This amount is used to determine eligibility for the additional 10% in CESG. |
Annual RESP contribution (maximum value $50,000)
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0
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0
Retirement Starts at Age
If already retired, enter the same age as the current age.
Input Error: Retirement Starts at Age
Enter a value greater than or equal to 35. |
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18
Input Error: Retirement Ends at Age
Enter a value greater than 65. |
| Made at the start or end of the year? |
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4.00%
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| Change annual contribution amount? |
Change Rate of Return?
Click Yes if you want to change the rate of return a few years into retirement. |
New annual RESP contribution
Change at age
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1,500
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10
Input Error: Change Rate of Return Age
Enter a value between 66 and 90. |
| Change rate of return? |
Change Rate of Return?
Click Yes if you want to change the rate of return one more time. |
New rate of return
Change at age
Single lump sum RESP contribution (maximum value $50,000)
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2.00%
Input Error: Rate of Return
Enter a value between and % |
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12
Input Error: Change Rate of Return at Age
Enter a value between and |
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0
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0
Retirement Starts at Age
If already retired, enter the same age as the current age.
Input Error: Retirement Starts at Age
Enter a value greater than or equal to 35. |
Other Savings (non-RESP)
Results
Tables
RESP SavingsOther Savings
Summary
Disclaimer
