Put away $208.33 a month from birth and an RESP is worth $79,431 at age 17 with a 5% yearly return, and $7,200 of that is grant money. Add your own monthly amount, family income and the child’s age to run the same projection.
How much does the Canada Education Savings Grant pay?
The basic grant matches 20% of what you put in, on the first $2,500 each year, so $500 at most. Families with lower income get a bonus on the first $500 of deposits, and that lifts the yearly grant to as much as $600.
| Item | Amount |
|---|---|
| Basic grant | 20% of the first $2,500 a year |
| Extra grant, family income to $58,523 | 20% of the first $500 ($100) |
| Extra grant, income $58,524 to $117,045 | 10% of the first $500 ($50) |
| Grant per year with carry-forward | Up to $1,000 |
| Lifetime grant per child | $7,200 |
| Lifetime deposit limit per child | $50,000 |
What does a family with $90,000 of income end up with?
Say they save $208.33 a month, about $2,500 a year, starting at birth. The first year brings a grant of $549.99: the $500 basic amount plus the $50 extra. Across 17 years the family deposits $42,499 and receives $7,200 in grants. Growth at 5% adds $29,732, for a final balance of $79,431.
Drop the family income to $50,000 and the first grant rises to $599.99, because the extra grant doubles. The balance at 17 becomes $79,745. That’s only $314 more. The $7,200 lifetime cap arrives around year 14, so the income bonus matters mostly in the early years.
Can you catch up on years you missed?
Yes, up to a point. Unused grant room carries forward, and with enough of it a family can earn up to $1,000 of grant in one year, which is 20% of $5,000 of deposits. The last field is where you enter grant room left over from earlier years. Only the amount above the yearly $500 can be caught up, so the field won’t create room out of thin air.
What does the projection leave out?
It uses one fixed return for every year, and real markets won’t cooperate. The grant stops at $7,200 and deposits stop at the lifetime limit. The Canada Learning Bond isn’t in it. That’s a separate payment for lower-income families, and it needs no deposit. It starts at $500 and adds $100 for each further year up to age 15, to a maximum of $2,000. For 2026 the income ceiling for a family with one to three children is $58,523.
Grants continue through the year the child turns 17, though ages 16 and 17 need earlier savings to qualify. Payouts for school aren’t modelled on this page.
What else competes for the same savings?
Saving for a child competes with saving for yourself. A tax-free account is another choice, so compare it with the TFSA calculator. Your own retirement counts as well, and the retirement savings calculator shows what you’d need. A deposit into your RRSP can also cut your tax, as the RRSP tax savings calculator explains. Family payments matter for the budget too, so try the Canada Child Benefit calculator.
Where the numbers come from
Grant rates, income limits and lifetime caps come from the federal education savings pages and the 2026 income brackets published by the department that runs the program. Results are estimates, and this website has no tie to any government body.
Frequently asked questions
How much does the CESG pay each year?
20% of the first $2,500 you deposit, so $500. Lower-income families can get up to $100 more on the first $500.
What is the lifetime CESG limit?
$7,200 per child. The lifetime deposit limit is $50,000 per child.
Can I catch up on missed years?
Yes. Unused grant room carries forward, and the grant can reach $1,000 in a single year.
Who gets the extra grant?
Families with adjusted income up to $58,523 get 20% extra on the first $500. Up to $117,045 the extra is 10%.
Is the Canada Learning Bond in the projection?
No. That bond is a separate payment for lower-income families and isn't part of the numbers.
Sources and updates
Updated: . How we check rates · Editorial team · Updates
Estimate only. These figures are a planning estimate, not tax, legal or accounting advice. Tax-Services.ca is an independent publisher: we don't prepare or file tax returns, and we don't offer tax, legal or accounting services. We have no connection with the Canada Revenue Agency, Revenu Québec or any provincial government. Your real amounts depend on details this tool cannot see, so confirm them with an official source or a qualified professional before you act.