RESP Calculator

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Calculate how much you could grow your RESP savings to meet your child's school and education expenses. CIBC has RESP plans that meet your investment profile.
Basic Information
Basic Information
Investment Profile
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Child's Information
Child 1
Child 2
Child 3
Child 4

Your Results
Results

Based on the information you provided you will need to save $0 to meet your education needs. You have a projected shortfall of $0 based on your projected contributions and earnings of $0 and $0 in government grants and earnings.

By starting early with your contributions, you can ensure that your child's post-secondary education needs are looked after.

Many investors don't have the time or expertise to build a diversified portfolio. CIBC Managed Portfolio Services is an All-In-One Fund Solution that is an easy and effective way to manage your money.

You may still be able to maximize your RESP contribution to take advantage of government incentives.

Still not enough? A student line of credit gives you access to a set amount of funds that can be used as needed.

You are well on your way to ensuring your child's post-secondary education needs are looked after. You may want to look at ways to make your excess funds work harder for you

Maximize your savings with the CIBC eAdvantage Savings Account that pays high interest when your balance is $5,000 or more.

Total Projected Savings Required
$125,092
Total Projected RESP:
$78,648
Total Projected CESG:
$4,509
Total Other:
$4,509
Shortfall:
$41,936
Summary of Monthly Contributions


Monthly RESP contribution to
maximize CESG
Monthly RESP contribution to reach
projected savings required
TIPS
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PLEASE NOTE: This calculator provides general information only; it does not provide specific tax or education planning advice. We recommend that you consult a CIBC advisor when planning for your child's education. Amounts projected by the calculator are based on the information you enter and a variety of estimates and assumptions. Actual earnings and other factors will vary over time. As a result, CIBC cannot guarantee the results. You should repeat the analysis periodically with updated information and when important changes occur in life circumstances, needs or resources.
This calculator will add a file, known as a local shared object or a cookie, to your computer. This file contains configuration information, as well as the information you enter and the calculator results that are presented to you. These results will be viewable by anyone who uses your computer. CIBC does not use the information in local shared objects for analytical or other purposes. You can remove all local shared objects created by CIBC tools from your computer using instructions found here.
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Displays the marginal tax rate used to determine the after-tax growth of non-RESP investments used to fund your children's education. The marginal tax rate is the rate of tax paid on the next dollar of income earned.

Understanding yourself as an investor is one of the key considerations in creating an effective portfolio. Determine whether you are a conservative or an aggressive investor and develop a savings plan to match your unique profile.

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You can also save the information for access at any time by copying and pasting the URL into an email.