The RESP in Canada: the 20% grant, the Canada Learning Bond and provincial grants
How much the government adds to your child's education savings in 2026, who gets the Canada Learning Bond without paying in a dollar, the extra grants in British Columbia and Quebec, and how to open the account step by step.
For every dollar you put into a Registered Education Savings Plan (RESP) for your child, the federal government adds 20 cents through the Canada Education Savings Grant (CESG), up to $500 a year per child on the first $2,500 you contribute, and up to $7,200 over the life of the plan. If your family income is low, your child may also get the Canada Learning Bond (CLB), worth up to $2,000, without you contributing anything. The first requirement for all of this is that the child has a Social Insurance Number (SIN).
What is an RESP, and who can it be opened for?
It's a long-term savings account for a child's education after high school, whether at a university, college, CEGEP, trade school or apprenticeship program. The money can be used for tuition, books, supplies, housing and transportation.
Any adult can open an RESP for a child, and an adult can also open one for themselves. It can only be opened through an approved financial institution, which the government calls a "promoter", such as a bank or another organization on the official list.
Government incentives in an RESP at a glance
| Incentive | Paid by | Amount | Do you have to contribute? |
|---|---|---|---|
| Basic CESG | Federal | 20% of your contributions, up to $500 a year and $7,200 over the life of the plan | Yes |
| Additional CESG | Federal | An extra 10% or 20% on the first $500, depending on family income | Yes |
| Canada Learning Bond (CLB) | Federal | $500 in the first year, then $100 for each eligible year up to age 15, to a maximum of $2,000 | No |
| B.C. Training and Education Savings Grant (BCTESG) | Provincial | $1,200, once | No |
| Quebec Education Savings Incentive (QESI) | Provincial | Up to $3,600 over the life of the plan (a tax credit paid into the plan) | Yes |
The CESG: how to get the maximum in 2026
The basic grant doesn't depend on income: it's 20% of your yearly contributions. So contributing $2,500 a year gets you $500. The additional grant is calculated on the first $500 only, and its rate depends on your adjusted family net income. These are the official brackets for 2026:
| Adjusted family net income (2026) | Additional grant | Maximum grant per year |
|---|---|---|
| Up to $58,523 | 20% on the first $500 ($100) | $600 |
| Over $58,523 and up to $117,045 | 10% on the first $500 ($50) | $550 |
| Over $117,045 | None | $500 |
A worked example for 2026: a family with an adjusted income of $50,000 contributes only $500 for their child. They get $100 in basic grant and $100 in additional grant, for $200 in total: a 40% return on that first $500. If they contributed $2,500, they would get $600. And if the child qualifies for the Learning Bond and this is their first eligible year, $500 from the bond is added with no contribution at all. That's why the first $500 is the highest-return money a low- or middle-income family can save.
Unused grant room carries forward. Each child earns new grant room every year, so if you missed some years you can catch up later, but only up to $1,000 in grant per year. That's why it's better to start early than to try to catch up on ten years at the last minute.
Watch out at ages 16 and 17. The grant is paid until the end of the year the child turns 17. But it's only paid in those two years if you contributed at least $2,000 before the child turned 15, or at least $100 in each of four separate years before then.
The Canada Learning Bond: money for your child without contributing anything
The bond is for children from low-income families born in 2004 or later. It starts with $500 in the first eligible year, then adds $100 for each eligible year up to age 15, to a maximum of $2,000. You don't have to contribute anything to the RESP.
Eligibility depends on adjusted family income and the number of children. These are the income limits for 1 July 2026 to 30 June 2027:
| Number of children | Maximum adjusted family income |
|---|---|
| 1 to 3 | $58,523 |
| 4 | $66,036 |
| 5 | $73,577 |
| 6 | $81,117 |
The government works out income from tax returns, and the primary caregiver must be eligible for the Canada child benefit (CCB). So filing a tax return every year is in practice a condition for getting the bond, even if your income is zero. The details of the benefit itself are in our Canada child benefit (CCB) guide.
The bond can be requested until the beneficiary turns 21. The government says automatic enrolment in the bond will begin in April 2028 for children born in 2024 or later, if they have not become an RESP beneficiary before age 4 and meet the other conditions. But don't wait for that date if your child is eligible now.
Provincial grants: British Columbia and Quebec
British Columbia, BCTESG: the province deposits $1,200 into the child's RESP once, with no contribution required from you. You apply between the child's sixth birthday and the day before their ninth birthday, and both the child and their parent or guardian must live in B.C. and have a valid SIN. That window is only three years long; miss it and you lose the grant. Local details are on our British Columbia page.
Quebec, QESI: the Quebec education savings incentive is a tax credit the province pays directly into the plan, worth up to $3,600 per child over the life of the plan. The financial institution managing the plan applies for it for you; Revenu Québec publishes the rate and the annual limit. Another important difference in Quebec is the extra tax on earnings if the child doesn't go on to study, as explained below. More on our Quebec page.
How to open an RESP, step by step
- Get your child a SIN. A child can't be named as a beneficiary without one, and must be living in Canada when named. The steps are in our Social Insurance Number (SIN) guide.
- Choose a financial institution. Compare your own bank with other approved providers. Ask about fees, minimum contributions, and the rules for withdrawing or transferring, especially with group plans, which can involve long-term commitments. You can start with our guide to opening a bank account as a newcomer.
- Ask for every incentive when you open the account. The institution applies for the CESG, CLB and provincial grants, so ask them to do it explicitly and check that they appear on your statement.
- Decide how much to contribute. $2,500 a year (about $208 a month) gets you the full basic grant. If you can't manage that, every dollar still earns 20 cents.
- File your tax return every year so the bond and additional grant keep being calculated on your actual income.
To see how much you can save each month without squeezing household spending, use the first-months budget tool.
Contribution limits, and what happens if your child doesn't go on to study
- The lifetime contribution limit is $50,000 per child across all plans combined. Anything over that is taxed at 1% per month.
- When your child studies, they receive educational assistance payments (EAPs), which include the grants and earnings and count as the student's income, not yours. A student's income is usually low.
- If your child doesn't pursue education after high school, the grants and bond go back to the government. As the subscriber, you can withdraw the investment earnings, which are taxed at your normal rate plus 20%, or 12% in Quebec. Your original contributions remain yours.
To compare this account with other savings accounts, read our TFSA, RRSP and FHSA guide. This guide is general information, not financial advice.
Frequently asked questions
Can a new permanent resident open an RESP for their child?
Yes. The main requirements are that the child has a SIN and is living in Canada when named as a beneficiary. The Canada Learning Bond also requires the caregiver to be eligible for the Canada child benefit.
Do I lose the grant if I don't contribute anything this year?
No. Grant room carries forward and you can use it later, but only up to $1,000 in grant per year. And remember the rule about contributions before age 15.
Do I need to contribute money to get the Canada Learning Bond?
No. You just need to open the plan and apply for the bond if your child is eligible. Some institutions require a minimum contribution, so look for one that doesn't.
If my child doesn't go on to study, do I keep the grants?
No. The grants and bond go back to the government. Your original contributions stay yours, and you can withdraw the earnings with the extra tax explained above.
I'm moving from British Columbia before my child turns 9. Can I still get the BCTESG?
The child and their parent or guardian must live in B.C. when the application is made. Apply before you move if you can.