A clearer plan for the school years
Explore education costs and savings, or work through RESP contribution history and conditional basic CESG. Keep costs, family money and potential benefits separate.
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Build the education plan
CADExample costs are placeholders. Use your own school and living-cost estimates. This is a cash-funding model, not an RESP eligibility calculator.
When & costs
Zero means the first study-year cost is due now, before any new monthly saving.
Savings & support
Include money already received once. Possible future grants are not current savings.
An entered, fixed nominal amount available at the start of each study year. No scholarship, grant, job income or borrowing is guaranteed. Used only up to that year’s cost.
Growth & timing
Effective annual rate converted to monthly growth, rounded to cents. Allow for fees and taxes yourself. Losses are possible.
Study costs are due at the start of each year. Growth and deposits happen afterward, with deposits at month end. Later saving does not erase an earlier funding gap.
See the funding, year by year
Assumptions$65,698.14 CAD
DollarMath provides calculators and information for educational purposes. It does not provide financial advice. Read the disclaimer.
- Projected total education costs
- $110,532.76
- Paid from savings
- $44,834.62
- Other funding used
- $0.00
- Unfunded costs
- $65,698.14
- Projected final savings balance
- $0.00
Monthly saving to cover the modelled costs
$609.53 monthly, before study only, is the smallest cent amount that avoids every modelled start-of-year gap. Returns, costs and entered other funding stay assumed, not guaranteed.
Unfunded costs do not become a loan in this model. Later deposits and growth cannot pay a past gap. Grants, RESP room, withdrawal tax and borrowing costs are not calculated. Understand RESP contributions and benefits.
The education funding ledger
| Year / phase | Opening savings | Study costs | Other funding used | Savings used | Unfunded | New saving | Growth / loss | Ending savings |
|---|---|---|---|---|---|---|---|---|
| 1Saving before study | $10,000.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2,400.00 | $443.69 | $12,843.69 |
| 2Saving before study | $12,843.69 | $0.00 | $0.00 | $0.00 | $0.00 | $2,400.00 | $557.43 | $15,801.12 |
| 3Saving before study | $15,801.12 | $0.00 | $0.00 | $0.00 | $0.00 | $2,400.00 | $675.72 | $18,876.84 |
| 4Saving before study | $18,876.84 | $0.00 | $0.00 | $0.00 | $0.00 | $2,400.00 | $798.75 | $22,075.59 |
| 5Saving before study | $22,075.59 | $0.00 | $0.00 | $0.00 | $0.00 | $2,400.00 | $926.72 | $25,402.31 |
| 6Saving before study | $25,402.31 | $0.00 | $0.00 | $0.00 | $0.00 | $2,400.00 | $1,059.79 | $28,862.10 |
| 7Saving before study | $28,862.10 | $0.00 | $0.00 | $0.00 | $0.00 | $2,400.00 | $1,198.18 | $32,460.28 |
| 8Saving before study | $32,460.28 | $0.00 | $0.00 | $0.00 | $0.00 | $2,400.00 | $1,342.10 | $36,202.38 |
| 9Saving before study | $36,202.38 | $0.00 | $0.00 | $0.00 | $0.00 | $2,400.00 | $1,491.82 | $40,094.20 |
| 10Saving before study | $40,094.20 | $0.00 | $0.00 | $0.00 | $0.00 | $2,400.00 | $1,647.45 | $44,141.65 |
| 11Study year 1 | $44,141.65 | $26,817.88 | $0.00 | $26,817.88 | $0.00 | $0.00 | $692.97 | $18,016.74 |
| 12Study year 2 | $18,016.74 | $27,354.23 | $0.00 | $18,016.74 | $9,337.49 | $0.00 | $0.00 | $0.00 |
| 13Study year 3 | $0.00 | $27,901.31 | $0.00 | $0.00 | $27,901.31 | $0.00 | $0.00 | $0.00 |
| 14Study year 4 | $0.00 | $28,459.34 | $0.00 | $0.00 | $28,459.34 | $0.00 | $0.00 | $0.00 |
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RESP contributions and basic CESG
See what a yearly contribution could attract, how catch-up room is used and when the grant window closes.
Open the RESP contribution planner
One beneficiary, all their plans combined. Start with records before 2026, then enter the full calendar-year contribution, including amounts already contributed in 2026. Future rows repeat that yearly amount and hold the reviewed 2026 rules constant. Only basic CESG is projected; no Additional CESG is assumed in 2026 or later rows. These are conditional illustrations, not benefit approvals or current account balances.
The beneficiary’s plan
2026 / CADAge & contribution
Use calendar-year age, not age today. Review earlier records if you change this. No name, birth date or SIN is needed.
Includes amounts already contributed in 2026. The same amount is requested in every future row, capped at remaining lifetime contribution room.
Assumes Canadian residency, a valid SIN and an eligible RESP for all planned contributions. Do not provide the SIN here. Turn off to exclude grants; this tool does not verify eligibility. Confirm records and applications with the promoter.
Earlier records
All amounts below are before January 1, 2026, across every plan for this beneficiary. Use promoter records. Transfers, withdrawals, repayments and beneficiary changes need separate review and are outside this model.
Contributions only, not account balance or grants. Withdrawals do not create new lifetime contribution room.
Historical income-related CESG uses part of the same $7,200 ceiling. No Additional CESG is assumed for 2026 or later modelled years.
Grant dollars, not contribution dollars. Enter confirmed unused room from before 2026; the current year’s $500 is added separately when conditional grants are included. Age alone does not establish room.
Age 16/17 history
To receive CESG in the years turning 16 or 17, retained contributions before the end of the year turning 15 must total at least $2,000, or be at least $100 in each of four years. This model assumes no withdrawals.
For the selected age, the pre-2026 contribution total is before the deadline. The model also tracks new contributions made through the year turning 15.
Count years before 2026 and by the end of the year turning 15. Enter 4 for four or more; years need not be consecutive.
At 16 or 17, contributing more now cannot repair a missed earlier deadline. At 18, no new basic CESG is included.
Contributions and grants, separately
Assumptions$500.00 CAD
DollarMath provides calculators and information for educational purposes. It does not provide financial advice. Read the disclaimer.
- Included 2026 contribution
- $2,500.00
- Planned contributions through the displayed years
- $32,500.00
- Conditional new basic CESG over those years
- $6,500.00
- Projected contributions plus conditional grants
- $39,000.00
- Contributions without modelled basic matching
- $0.00
- Lifetime contribution room left at the end
- $17,500.00
New money in this illustration
- New family contributions
- $32,500.00
- Conditional new basic CESG
- $6,500.00
These totals exclude opening contributions, opening grants, investment growth, fees and taxes. Conditional grant amounts are not confirmed cash. They are not automatically added to the education-cost planner above.
A first-year matching illustration
$5,000.00 is the smallest contribution that attracts the maximum basic grant supported by this year’s entered room, history and lifetime limits. This is not an affordability recommendation.
Applies the same contribution to every future row. Check the ledger; later-year matching limits can be different.
Unused basic room stops being usable after the year turning 17. Additional CESG, CLB, BC/Québec benefits, withdrawal rules and taxes are separate. Read the RESP guide.
The contribution and basic-grant ledger
| Year / age | Room before annual addition | New basic room | Contribution included | Request kept outside plan | Conditional basic CESG | Without basic matching | Unused basic room | Contribution room left | Shared CESG ceiling left | Grant status |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026Age 5 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $47,500.00 | $6,700.00 | Conditional basic CESG |
| 2027Age 6 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $45,000.00 | $6,200.00 | Conditional basic CESG |
| 2028Age 7 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $42,500.00 | $5,700.00 | Conditional basic CESG |
| 2029Age 8 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $40,000.00 | $5,200.00 | Conditional basic CESG |
| 2030Age 9 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $37,500.00 | $4,700.00 | Conditional basic CESG |
| 2031Age 10 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $35,000.00 | $4,200.00 | Conditional basic CESG |
| 2032Age 11 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $32,500.00 | $3,700.00 | Conditional basic CESG |
| 2033Age 12 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $30,000.00 | $3,200.00 | Conditional basic CESG |
| 2034Age 13 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $27,500.00 | $2,700.00 | Conditional basic CESG |
| 2035Age 14 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $25,000.00 | $2,200.00 | Conditional basic CESG |
| 2036Age 15 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $22,500.00 | $1,700.00 | Conditional basic CESG |
| 2037Age 16 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $20,000.00 | $1,200.00 | Conditional basic CESG |
| 2038Age 17 | $2,500.00 | $500.00 | $2,500.00 | $0.00 | $500.00 | $0.00 | $2,500.00 | $17,500.00 | $700.00 | Conditional basic CESG |
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Replace overwrites that named plan’s inputs. Save as a new plan or download a backup to keep both versions.
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Recently deleted (0)
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Keep one quick baseline, then change your numbers. Use named plans above to keep several alternatives.
How the RESP illustration works
Version ca-resp-basic-2026-v1/annual-history-v1. Reviewed 2026-10-26; review due 2026-11-26. Sources and boundaries. Download parameters.
Keep the three limits separate
Lifetime personal contributions are capped at $50,000 across plans. The assumed current-year basic grant room adds $500 to entered carry-forward room, with at most $1,000 basic CESG in a year. Basic CESG is 20% of supported contributions, bounded by that room and the remaining shared $7,200 basic-plus-Additional lifetime ceiling. Prior Additional CESG reduces that ceiling but does not reduce basic carry-forward room.
History, timing and rounding
Opening records are through December 31, 2025; the planned contribution is the full 2026 amount, not an additional amount on top of contributions already made this year. Retained contributions and qualifying years are tracked through age 15 for the age-16/17 test. Future rules and eligibility are assumptions. Historical paid amounts come from promoter records and are not recomputed. Money is rounded to cents; fractional forecast grant cents round down conservatively. This is a planning convention, not a transaction-level promoter calculation or payment schedule.
A separately checked example
For the age-5 example with no prior contributions or grants and $2,500 confirmed opening unused basic room, $2,500 each year from 2026 through the year turning 17 means 13 contributions totalling $32,500 and $6,500 conditional basic CESG. With $5,000 yearly requested instead, the model reaches $50,000 contributions and the $7,200 shared grant ceiling, keeping later requested cash outside the plan. It is not an investment-return comparison.
What remains outside
No withdrawals, grant repayments, transfers, beneficiary changes, investment growth, fees, tax, income-based future Additional CESG, CLB or provincial benefits. Multiple beneficiaries need separate records and coordinated plan limits. General eligibility and accurate opening records must be confirmed with the promoter. Use the education-cost planner independently and count confirmed funding only once.
How much should I save each month for education?
Estimate each study year’s costs, their assumed increase and when they must be paid. The planner applies entered other funding and available savings at each study year’s start, then grows remaining savings and adds permitted month-end deposits. It finds the smallest supported monthly contribution that avoids every modelled gap. An immediate cost can need money already available. A separate RESP planner illustrates conditional basic CESG from entered history. No grant, scholarship, return or borrowing approval is guaranteed.
Reviewed October 26, 2026 by DollarMath. Educational estimates. Sources and calculation scope.
Common questions
Does this calculate RESP contributions and basic CESG?
The separate RESP planner illustrates one beneficiary’s contributions and conditional basic CESG from full-year 2026 inputs and earlier records across all plans. It tracks unused basic room, catch-up, lifetime contribution/CESG ceilings and the age 16/17 history conditions. Future years hold 2026 rules constant. It does not verify eligibility or calculate future Additional CESG, CLB, provincial benefits, withdrawals or tax. Its grants are not automatically added to the education-cost plan.
How does basic CESG catch-up work in the planner?
The model adds $500 of basic room for an assumed eligible year to entered unused earlier room. Basic CESG is 20% of supported contributions, up to $1,000 per year with sufficient room, and within the shared $7,200 basic-plus-Additional lifetime ceiling. It also caps contributions at the remaining $50,000 lifetime limit. The age-5 example with $2,500 opening unused room and $2,500 yearly through age 17 gives $32,500 new contributions and $6,500 conditional basic CESG. This is not a promise of payment.
Can later saving cover a cost that was due before it arrived?
No. Costs are due at the start of each study year. Funding already available is applied then; a remaining gap stays unfunded. Later deposits and growth can fund a later year but do not erase that earlier gap. The model does not create a loan or calculate interest on unfunded costs.
What is a checked zero-return education example?
With $1,000 already saved, $200 monthly for two full years before study and no growth or inflation, savings reach $5,800. Two study years costing $6,000 each, with $1,000 other funding per year and no new study-period deposits, use the $5,800 and leave $4,200 unfunded. Saving $375 monthly before study instead covers the $10,000 remaining cost in this example.
Can I compare living at home with moving away for school?
Yes. Save one scenario, then change housing, living, travel, timing and other funding assumptions. Costs are examples until you replace them with your own estimates. Both plans use CAD; exchange rates, overseas eligibility, student-loan repayments, fees and taxes are not calculated automatically.
Can I save plans or use my results in Excel or Google Sheets?
Yes. Save named plans in this browser without an account, then reopen, compare, rename or duplicate them. JSON backups can restore editable plans after local validation and a review step. Download a spreadsheet for typed inputs, results and detailed schedules where available, then open it in Excel or import it into Google Sheets yourself. Workbooks are snapshots, not live calculator formulas. Plans and files are not encrypted; clearing browser data can remove device plans. Nothing is automatically uploaded or synchronized.
Costs and savings, with timing visible
CAD illustration. Method and qualitative references reviewed October 26, 2026; review due November 26.
Costs at the start, saving at month end
Year 1 starts now. If there are two full years until study, the first study-year cost occurs at the start of year 3. Each entered annual cost category is rounded to cents, increased by the assumed annual cost rate for the years elapsed and rounded again. Their sum is due at the start of each study year. Entered other funding is a fixed nominal amount available then, capped at that year’s cost; unused other funding is outside this savings plan.
Available savings pay the remaining cost. Any unpaid amount is recorded as a shortfall and never becomes a negative savings balance or an invented loan. The savings balance then receives 12 monthly growth periods and permitted month-end deposits. Contributions stop when study starts unless you choose to continue. Study-period deposits cannot pay a cost already due earlier that year.
Growth and a reproducible example
The effective monthly rate is (1 + annual return / 100)^(1/12) minus 1. Monthly growth or loss is rounded to cents before the deposit. The return is your assumption; fees, tax and account restrictions are not calculated separately.
With $1,000 already saved, $200 monthly for two years, zero return and no inflation, $5,800 is available when study starts. Two years at $6,000 per year with $1,000 other funding each year need $10,000 from savings. The first year uses $5,000; the second uses the remaining $800 and leaves $4,200 unfunded. At $375 monthly before study, the same zero-return example is fully funded. Independent checks also cover positive growth and inflation.
The contribution target respects every payment date
The target searches whole cents from $0 to $1,000,000 monthly, holding other assumptions fixed, for a contribution that leaves no start-of-year shortfall. If the highest supported amount still leaves a gap, no target is shown. An immediate cost that exceeds money already available cannot be solved by a deposit arriving later. This is an illustration, not a guarantee that an entered monthly amount is affordable.
Education cash planning is separate from RESP rules
Current savings and other funding are entered assumptions. The cash-cost engine excludes automatic grants, account room, repayments, withdrawal tax and student-loan costs. The separate RESP illustration above models basic CESG and contribution history within its own limits. Its conditional grants are not automatically added to this cost plan. Do not enter the same grant in both current savings and future funding. Read the RESP contribution and grant guide, and confirm eligibility and withdrawal rules with the promoter.
Canada’s education planning tools provide official starting points. School prices, returns and exchange rates are not fetched. There is no automatic foreign-currency or overseas eligibility model. These are calculators and information, not financial advice.