Canada Learning Bond (CLB)
Employment and Social Development Canada (ESDC) provides an additional incentive of up to $2,000 to help modest-income families start saving early for their child's education after high school (post-secondary education).
The Canada Learning Bond (CLB) money will be deposited directly into the child's RESP.
The CLB is available for chidlren from low-income families born in 2004 or later and provide an initial $500 for the first year the child is eligible, up to age 15, plus $100 for each additional year of eligibility, up to 15 years for a maximum of $2,000.
Children who are in care of a public primary caregiver of whom a special allowance under the Children's Special Allowance Act is paid, are also entitled to the CLB.
Youth who meet the minimum age requirement to open an RESP in their province of residence can be their own subscriber of an RESP and request the CLB for themselves.
The beneficiary must be under the age of 21 at the time of application.
If the beneficiary does not pursue post-secondary education, the CLB is returned to the government.
For more information on the CLB, go to Canada Learning Bond or call 1-800-O-CANADA (1-800-622-6232).
Report a problem or mistake on this page
- Date modified: