RESP and Student Aid Comparison

Selected student aid system Ontario Student Assistance Program (OSAP)

Integrated federal and provincial grants and loans.

Repayment is generally managed through NSLSC for integrated Canada-Ontario loans.

Open official province and territory list

Province and grant indicator Province or territory of residence Months of full-time study Family size for federal grant indicator Previous-year gross family income

Simplified Canada Student Grant indicator $4,200

For participating provinces and Yukon only. Add provincial or territorial grants from the official estimator if applicable.

School-year costs Tuition and compulsory fees

Books, equipment, and program costs

Living costs for the study period

Other non-RESP resources

RESP used for school RESP contribution withdrawal

RESP EAP withdrawal

RESP used in comparison $9,000

EAPs are generally taxable to the student. Contribution withdrawals and EAPs can have different reporting treatment.

Government aid offer Government grants without RESP

Government loans offered without RESP

Use the same grant and loan offer when RESP is used

Total school-year costs $24,500

Loan needed without RESP $12,000

No uncovered gap after the entered government loan offer.

Loan needed with RESP $8,300

No uncovered gap after RESP and the entered government loan offer.

Estimated borrowing avoided by RESP $3,700

Based on the grant and loan amounts entered above.

Input Use real family numbers

Replace defaults with the child's age, contribution history, province, school timing, or provider details where the tool asks for them.

Output Compare the next decision

Use the result to decide what to ask the promoter, not as proof of eligibility or investment outcome.

Constraint Confirm before acting

RESP grants, withdrawals, transfers, fees, and school eligibility can depend on provider support and current government rules.

Assumptions and constraints

Review before using the result 0/4 checked

01 This tool does not reproduce provincial or territorial assessment formulas. 02 Enter grant and loan amounts from an official estimator, application, or notice of assessment when available. 03 The Canada Student Grant estimate is a simplified indicator for full-time students and does not include provincial or territorial grants. 04 Quebec, Nunavut, and the Northwest Territories operate their own student aid programs, so the federal grant indicator is not applied there.

Official sources

Canada Student Grants and Loans Employment and Social Development Canada · checked 2026-05-23 Apply with your province or territory Employment and Social Development Canada · checked 2026-05-23 Canada Student Grant for Full-Time Students Employment and Social Development Canada · checked 2026-05-23 Repay a student loan Employment and Social Development Canada · checked 2026-05-23 Student lines of credit Financial Consumer Agency of Canada · checked 2026-05-23 Pay for education using the RESP Canada.ca · checked 2026-05-24 RESP payments, transfers, and rollovers Canada Revenue Agency · checked 2026-05-24