RESP & CESG Calculator
CanadaEstimate the Canada Education Savings Grant (CESG) and Canada Learning Bond (CLB) for an RESP. CESG: 20% on the first $2,500 contributed per year (max $500/year, $7,200 lifetime). CLB for low-income families. RRSP room.
CESG $500 + CLB $0
Lifetime used: $500 of $7,200
Lifetime used: $0 of $2,000
RESP lifetime contribution limit per beneficiary: $50,000. Grant amounts are estimates; ESDC determines eligibility. See Canada.ca for RESP and CESG/CLB rules.
About this calculator
This calculator estimates the Canada Education Savings Grant (CESG) and Canada Learning Bond (CLB) for a Registered Education Savings Plan (RESP). RESPs help families save for a child's post-secondary education; the government adds money through the CESG (20% on the first $2,500 contributed per year, up to $500 per year and $7,200 lifetime per beneficiary) and, for eligible low-income families, the CLB (no contribution required). Use it to see how much grant you could get this year and how much lifetime room remains.
How it works
CESG: The government matches 20% of contributions on the first $2,500 per beneficiary per year (max $500 per year). There is a lifetime cap of $7,200 per beneficiary. We use your contribution this year and any CESG already received to compute this year's grant and remaining lifetime room.
CLB: The Canada Learning Bond is for families with modest income (below the program threshold). There is no need to contribute to get the CLB. The first year of eligibility can yield up to $500; each additional eligible year can add up to $100, with a lifetime maximum of $2,000 per beneficiary. Eligibility is determined by Employment and Social Development Canada (ESDC) based on family net income and other criteria.
RESP lifetime contribution limit is $50,000 per beneficiary. Grant amounts and eligibility are set by the government; confirm with Canada.ca and your RESP provider. Not financial or tax advice.
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