How much should I put into an RESP each month?

$208.33 a month captures the full $500 basic grant for the year, which is the highest-return contribution available to you. If you have unused room from earlier years, $416.67 a month claims the extra catch-up year as well, for $1,000 of grant.

Can I catch up on RESP grants I missed?

Yes, one missed year at a time. Unused grant room carries forward and you can claim a maximum of $1,000 of grant in any single year. The room stops accumulating after the year the child turns 17, so with an older child the catch-up window is short.

Is there a yearly RESP contribution limit?

No. The only annual limit is on the grant. You can contribute the entire $50,000 lifetime limit in one go, but doing so forfeits most of the $7,200 of grant, because the grant is only paid on the first $2,500 (or $5,000 with catch-up) each year.

What happens if I over-contribute to an RESP?

Amounts above the $50,000 lifetime limit per beneficiary attract a 1% per month penalty tax on the excess until it is withdrawn. Family plans with multiple children share nothing — each beneficiary has their own $50,000 limit.

RESP rules, plainly

How much should you actually put in an RESP?

There is one number that matters more than any other: $208.33 a month. That is what it takes to capture every dollar of basic government grant. Below are the full rules, and a calculator that tells you your own number in a few seconds.

The limits, in one table

Rule	Amount
Annual amount that earns the full basic grant$208.33 a month. The grant pays 20%, so this earns the full $500 for the year.	$2,500
Basic grant paid per yearPaid automatically into the plan by the government, usually within a few weeks.	$500
Maximum grant in a catch-up yearYou can claim one missed year at a time on top of the current year, which takes $5,000 of contributions.	$1,000
Lifetime grant per childReached after roughly 14.4 years of full contributions.	$7,200
Lifetime contribution limit per childNo annual cap on contributions — only on the grant they earn.	$50,000
Last year grants are paidWith conditions for 16 and 17 year olds: the plan must already have received contributions in earlier years.	The year the child turns 17

Federal Canada Education Savings Grant rules. Lower-income families may also qualify for the additional CESG and the Canada Learning Bond, which are not modelled here.

Find your number

Enter what you contribute today. The result shows how much free grant you are leaving on the table and the monthly amount that captures all of it.

Your numbers

Child's age today

years

Monthly contribution

RESP saved so far

Grant received so far

Leave at zero if you have not started.Assumed annual growth

Your result

Grant you would capture: $7,200
Free grant left unclaimed: $0
Monthly to capture every dollarIncluding catch-up room, if any.: $417
Projected value at 18: $71,057
Years contributing: 15

You capture every dollar of grant available. By 18 the plan is projected at $71,057 — about 3.2 years of school.

Estimates only, built on the published federal RESP and Canada Education Savings Grant rules. Growth is an assumption you set, not a guarantee. Not advice.

Common questions

How much should I put into an RESP each month?: $208.33 a month captures the full $500 basic grant for the year, which is the highest-return contribution available to you. If you have unused room from earlier years, $416.67 a month claims the extra catch-up year as well, for $1,000 of grant.
Can I catch up on RESP grants I missed?: Yes, one missed year at a time. Unused grant room carries forward and you can claim a maximum of $1,000 of grant in any single year. The room stops accumulating after the year the child turns 17, so with an older child the catch-up window is short.
Is there a yearly RESP contribution limit?: No. The only annual limit is on the grant. You can contribute the entire $50,000 lifetime limit in one go, but doing so forfeits most of the $7,200 of grant, because the grant is only paid on the first $2,500 (or $5,000 with catch-up) each year.
What happens if I over-contribute to an RESP?: Amounts above the $50,000 lifetime limit per beneficiary attract a 1% per month penalty tax on the excess until it is withdrawn. Family plans with multiple children share nothing — each beneficiary has their own $50,000 limit.

Contributing the right amount is half of it. Where the money sits is the other half — compare what the institutions charge.