Education Savings Calculator

Find out how much you will need to save and contribute for your child’s education

Savings to Date:

Contributions per Year:

Contribution Amount:

Expected Annual Rate of Return:

Expected Yearly Tuition and Expenses:

Expected Yearly Increase of Tuition:

Numbers of Years in College:

Number of Years Until College:

Results:

Effective Interest per Compounding Period:

Results:	Excluding RESP Grant	Including RESP Grant'Including RESP Grant’ assumes you are getting the grant from the government, so the results are all inclusive of the extra grant money.
Results:	Excluding RESP Grant	Income Level 0-$38,832 Including RESP Grant	Income Level $38,832-$77,664 Including RESP Grant	Income Level >$77,664 Including RESP Grant
Total Dollars Accumulated from RESP Grant	N/A
Total Dollars Needed for Education
Total Monthly Payment Required
Total Dollars Accumulated at Current Monthly Payment
Total Yearly Payment	N/A
Grant for first $500	N/A
Grant after first $500	N/A
Total Yearly Grant	N/A

Assumptions / Facts:

'Total Dollars Needed' and 'Total Dollars Accumulated' are calculated for the beginning of the year in which the child turns 18 and includes all years the child is in College.
Contributions are assumed to be made at the end of the contribution period. Annual tuition payments are assumed to be made at the end of the year.
'Expected Yearly Tuition and Expenses' is the amount you expect to pay each year of the child's education due at the end of the year. These amounts will increase by the 'Expected Yearly Increase of Tuition' each year.
For the purpose of the calculations the RESP grant is based on the accumulated value of the investment at the end of each year.

NOTE: These calculators are for illustrative purposes only and will provide estimated results. Exact results will depend on personal tax situations and other factors. To obtain exact results consult a professional.