RESP Planning Calculator

Using this RESP savings calculator will help you develop an effective savings plan to make your children’s future education goals a reality. Registered Education Savings Plans allow your investments to grow tax free for up to 35 years. In addition the government will contribute up to $500 per year through the Canada Education Savings Grants (CESG) program. Enter the required information in the fields below to estimate how much money you would need to put into an RESP account each year to cover the cost of educating your children. For more information contact an RESP specialist today.

Please enter the following information:
Family Information
Existing RESPs (enter amount or else leave value as 0) $
Other Education Savings (savings bonds, TFSA’s, etc. ) $
Annual Rate of Return (expected % on investments ) %
Age Beneficiaries RESP Started

Student’s Age at Start of Post-Secondary Schooling
Selected Contributions
Annual RESP Contributions (CESG max’s out at $2500) $
Education Costs
Total Tuition Cost (avg. 4yr. degree by 2025 – $75,000) $
Room and Board Cost ( 0 if student will live at home ) $
Educational Savings Results
Projected Funds Available For Post-Secondary $
Other Education Savings Available $
Projected Canada Education Savings Grant (CESG) $
Total Education Costs (tuitions + living expenses) $
Surplus/Shortfall of RESP Savings Plan $

DISCLAIMER: The administrator and owner of this website take no responsibility for any financial decisions made based upon the use of this calculator. The information provided by this calculator is intended for illustrative purposes only, as actual tuition costs, government CESG grants, and interest rates are subject to change and may vary over time. Final calculated results are not guaranteed to be completely accurate and are in no way endorsed, offered or guaranteed by Savii Financial Concepts. Copyright 2009 Saviifinancial.com ©

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