Up to 1.6 million eligible Canadians have might be missing out on a program intended to help Canadian students from low income households pay for their post secondary education.
Canada Learning Bond RESP
The Canada Learning Bond (CLB) is money from the Government of Canada to help pay for post-secondary education. It provides an initial payment of $500 in a Registered Education Savings Plan (RESP) and $100 for each subsequent benefit year of eligibility, up to the benefit year in which the beneficiary turns 15, to a maximum of $2,000. Contributions are not required to receive the CLB.
Eligibility for the CLB is based on family income. Your family’s adjusted net income meets the criteria set by the government.
- be born on or after January 1, 2004;
- be a resident of Canada;
- have a valid Social Insurance Number; and
- be named as a beneficiary to an RESP.
Children in care for whom the Children’s Special Allowance is paid also qualify for the CLB.
| Number of Children | Adjusted Net Family Income 2021 |
| 1 to 3 | Less than or equal to $49,020 |
| 4 | Less than $55,311 |
| 5 | Less than $61,626 |
| 6 | Less than $67,942 |
| 7 | Less than $74,257 |
| 8 | Less than $80,572 |
| 9 | Less than $86,888 |
| 10 | Less than $93,203 |
As of January 1, 2022, eligible Individuals who were born in 2004 or later but who did not receive the CLB as children can apply for it themselves when they turn 18, until the day before they turn 21. Approximately two-thirds of children born in 2004 or later are eligible for at least $500 through the CLB, up to $2,000 per eligible child.
For children under the age of 18, their primary caregiver, or the spouse or common-law partner of the primary caregiver, can request the CLB on behalf of the child. The primary caregiver is the person who is eligible to receive the Canada Child Benefit in the child’s name.
“To build the workforce we need, and to give everyone a fair shot at participating in it, education has to be accessible and affordable to all Canadians. That is why the Government is committed to ensuring that all Canadians are aware of and able to access the financial support they are entitled to. The Canada Learning Bond is now available to more students than ever before, and I encourage all young Canadians to learn more about the Bond and find out whether they are eligible for up to $2,000 to pursue the education, the career, and the future they want.”
Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough
CLB intended to create jobs, develop skills
The CLB provides up to $2,000 in Registered Education Savings Plan (RESP), with no contribution required from the individual. Eligible Canadians can apply for the CLB with their financial service provider by opening an RESP and requesting the Bond. Those who already have an RESP are encouraged to check with their financial service provider to see if they may be eligible for the CLB.
The CLB is among a host of learning, job-creation, and skills development supports offered by the Government of Canada. Those supports are part of the Government of Canada’s ongoing effort to make it easier for young Canadians to access post-secondary education and training options that will lead to good, well-paying jobs.
