Start Education Planning Calculator
The cost of post-secondary education has skyrocketed over the years, leaving many young Canadians with huge debts after graduation. The Registered Education Savings Plan (RESP) is designed to help save for your children’s post-secondary education. The federal government will also match annual contributions through the Canada Education Savings Grant (CESG) up to 20 per cent on contributions of up to $2,500 every year (to a lifetime limit of $7,500), meaning a maximum CESG contribution of $500 per year to your children’s RESP.
But it is important to start investing for your children’s future education as early as possible. Use the Start Education Planning Calculator to create different savings and investing scenarios to see the cost of delaying saving for your children’s education.