Canada Learning Bond: Financial support opportunity for post-secondary education

Saving for a child’s post-secondary education can be difficult, especially in our current climate of economic uncertainty.

The Government of Canada’s Canada Learning Bond (CLB) aims to help Canadians save for their child’s post-secondary education by providing an initial $500 contribution to establish a Registered Education Savings Plan (RESP).

Once the RESP is set-up, the CLB will continue to contribute $100 per year until the child is 15 years old. With the CLB, a child could receive a total of $2,000 towards their education.

A child is eligible for the CLB if they:

• are from a low-income family;
• are born on or after January 1, 2004;
• are a resident of Canada;
• have a valid Social Insurance Number (SIN); or,
• are named in an RESP.

This program requires no contributions and is retroactive, which means it is never too late to apply for the CLB.

For more information, please visit: https://www.canada.ca/en/employment-social-development/services/learning-bond.html

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