The Canada Learning Bond (CLB) is money that the Government of Canada provides for children whose families have low income.
The Canada Learning Bond (CLB) is money that the Government of Canada adds to a Registered Education Savings Plan (RESP) for children whose families have low income. This money can be used to pay for full-time or part-time studies after high school at any designated educational institution including university, college, apprenticeships, and trade.
Your child could get $500 for the first year and $100 every year they are eligible until they turns 15 years old, to a maximum of $2,000.
The CLB will not affect other Government of Canada benefits.
Your child may be eligible if:
- your family has low income
- they are born on or after January 1, 2004
- they are a resident of Canada
- they have a valid Social Insurance Number
- they are named in an RESP
- be a primary caregiver or a cohabiting spouse/common-law partner
- have applied for the Canada Child Benefit
How to apply
Apply for the CLB
- Open an RESP.
- Make sure your RESP provider offers the CLB because not all providers handle the CLB.
- You do not need to put money into the RESP in order to get the CLB.
- Ask the RESP provider to help you complete the application form for a CLB.
- File your income tax and benefit returns every year.
- The primary caregiver and cohabiting spouse/common-law partner must keep their returns up-to-date.
- The Government will use this to re-assess eligibility for the CLB every year.
- Once your application is approved, the CLB will be deposited directly into your child's RESP every year that they are eligible.