Use this calculator to estimate your child’s future education costs, and compare with your planned RESP savings.
Post-secondary education costs can add up quickly. When you’re saving for a goal like this that’s many years in the future, it can be hard to know how much you’ll need as a goal amount. Still, you can do your best to estimate based on what you know.
To use this calculator, have the following information ready:
- An estimate of your child’s annual tuition when they start their education
- How many years they will study for, and in which province
- Your child’s age when they will start their education, and their age now
- Whether your child will live at home or away during their education years
- The current value of your RESP and an estimated annual growth rate (check your recent account statements for more recent rate of return)