Canada Learning Bond
The Canada Learning Bond (CLB) is money that the Government of Canada deposits directly into a child's Registered Education Savings Plan (RESP) account to help parents get a head start on saving for their child's education after high school.
After high school, your child can withdraw the money to help pay for either full-time or part-time studies:
- in an apprenticeship program;
- at a CEGEP;
- at a trade school;
- at a college; or
- at a university.
The Canada Learning Bond is available to children:
- who were born after December 31, 2003; and
- whose families receive the National Child Benefit Supplement (The Supplement is over and above the Canada Child Tax Benefit and is usually received by lower-income families).
Note: If you are not sure whether you receive the National Child Benefit Supplement, consult your Canada Child Tax Benefit Notice of Determination. If you are the primary caregiver, you can also visit the Canada Revenue Agency (CRA) “My Account" Web site or by calling the Canada Revenue Agency at 1-800-387-1193.
A primary caregiver is the person who is in charge of a child’s care. That person also receives the Canada Child Tax Benefit. In most cases, the mother is the primary caregiver.
If you opened a Registered Education Savings Plan (RESP) and are not the primary caregiver of the RESP beneficiary, then you must ask the RESP beneficiary’s primary caregiver to complete their portion of the application form. If they don’t do this, the child cannot get the CLB.
What you need before you start
You will need a Social Insurance Number (SIN) for yourself and your child.
There's no fee. However, certain documents, such as a birth certificate or permanent resident card, are required.
How much could you receive
Get up to $2,000 for your child's Registered Education Savings Plan (RESP)—without having to put in any of your own money!
The Canada Learning Bond offered by the Government of Canada helps parents get a head start in saving for their child's education.
The money you get for your child could include:
- $25 to help cover the cost of opening the RESP;
- $500 to add to the RESP now, to help you start saving early; and
- an extra $100 each year until the calendar year he or she turns 15, as long as you continue to receive the National Child Benefit Supplement.
Note: If you have already been receiving the NCBS for your child for a few years now, it’s not too late to apply.
To get the Canada Learning Bond, you must open an RESP with an RESP provider who offers the Canada Learning Bond.
You do not have to put any of your own money into the RESP. Ask your RESP provider to apply for the bond, which the Government of Canada deposits directly into a child's RESP account.
However, if you choose to contribute to your child's RESP account, your child will qualify for the Canada Education Savings Grant.
Note: Not all RESP providers offer the Canada Learning Bond.
Once your application is approved, the Canada Learning Bond will be deposited directly into your child’s RESP every year that he or she is eligible. Once you have applied, it is renewed automatically each year. The Bond is usually paid in the month of August.
After you’ve applied
If your child does not continue education immediately after high school, the RESP can stay open for up to 36 years. That means your child can use the money if they decide to attend school later.
If your child does not continue his or her education and you must close the plan:
- The amount you saved goes back to you. Ask your RESP provider for details.
- The Canada Learning Bond must be returned to the Government of Canada.
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