Canada Learning Bond
Up to $2,000 free for your child
The Canada Learning Bond (CLB) program is a free education fund that seeks to help send more children to school and encourage more Canadians to pursue education opportunities. The bond provides up to $2,000 per child – an initial contribution of $500, with an additional $100 per year until the child turns 15.The CLB is a kick start contribution into a Registered Education Savings Plan (RESP) and can be received by eligible children with no requirement for contributions by their families. RESP savings grow tax-free until they are withdrawn to pay for full or part-time post-secondary education.
Eligibility: The child's family must receive the National Child Benefit Supplement.
Children must meet the following criteria:
- have been born after December 31, 2003
- have a birth certificate
- have a Social Insurance Number (SIN)
- be a beneficiary under an RESP
- reside in Canada
More Information: www.canlearn.ca