Canada Learning Bond
The Canada Learning Bond (CLB) is a federal government grant deposited directly into a Registered Education Savings Plan (RESP) for children from lower-income families. No personal RESP contribution is required — the government adds $500 when you open the RESP and $100 each year until the child turns 15, up to a maximum of $2,000. It is free money for education, and many eligible families do not claim it.
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The CLB is for children born on or after January 1, 2004 whose families meet the income threshold.
- Child must be born on or after January 1, 2004
- Family must meet the net income threshold (approximately $55,000 for one child, higher for larger families)
- Child must be a Canadian resident
- An RESP must be opened in the child's name
- Can apply retroactively up to the child's 18th birthday
Open an RESP at a bank, credit union, or group RESP provider and ask for the Canada Learning Bond.
- Open an RESP at any financial institution — many offer no-fee accounts
- Provide the child's SIN and your proof of income
- The $500 initial payment and annual $100 are deposited automatically each year income threshold is met
- You do NOT need to contribute your own money — the government adds the CLB for free
- Apply before the child turns 18 — unused CLB amounts cannot be claimed after age 18
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