The RESP

Registered Education Savings Plan

A savings account for your children’s education, where governments add grants to what you put in.

The 2026 numbers

Numbers checked against the official sources on September 29, 2026.

Getting free money: 20% more on your contributions, from the first dollar.
Paying for studies after high school: university, college, CEGEP or a trade program.
Growing those savings tax-sheltered until school starts.

Parents, grandparents or anyone close to a child who lives in Canada.
Lower-income families: the Canada Learning Bond is paid even with no contributions at all.

CESG: Ottawa adds 20% to your contributions, so $500 a year on the first $2,500 per child, until the end of the year the child turns 17. Lifetime maximum: $7,200.
A missed year can be caught up: up to $1,000 of CESG a year, by contributing $5,000. Modest family income: an extra 20% on the first $500 up to $58,523 of income, 10% up to $117,045.
QESI, Québec only: 10% more, up to $250 a year ($500 with catch-up) and $3,600 for life, paid into the same RESP.
Canada Learning Bond: $500 the first year, then $100 for each eligible year, up to $2,000, for a child born in 2004 or later in a low-income family. No contribution needed: just open an RESP and apply.
In British Columbia, the BCTESG pays $1,200 per child, no contribution needed, if you apply between ages 6 and 9.

You put $2,500 in for one child, in Québec

One year, with no catch-up and no income-based extra.

Province or territoryExample: Québec

Over the years, the CESG tops out at $7,200 and the QESI at $3,600 per child.

Fictional example, round numbers.

Starting late: at 16 and 17, the CESG is only paid if $2,000 went in before the end of the year the child turned 15, or at least $100 a year in 4 years.
Putting in a big lump sum: above $5,000 in a year, the extra dollars get no grant.
Not applying for the Canada Learning Bond: it doesn’t arrive on its own.
Signing up for a plan without reading its terms and fees: some group plans have strict rules.