Are you eligible?
A child is eligible for the Canada Learning Bond (CLB) if they:
- are from a low-income family
- are born on or after January 1, 2004
- are a resident of Canada
- have a valid Social Insurance Number (SIN)
- are named in a Registered Education Savings Plan (RESP)
Children in care, for whom a Children’s Special Allowance is payable, are eligible for the CLB.
The primary caregiver or their spouse or common-law partner requests the CLB on behalf of an eligible child.
If ineligible for the Canada Learning Bond, there are other government programs that can help you save for your child's education.
How do you get the Canada Learning Bond?
Before requesting a CLB on behalf of an eligible child, the following is required:
- A Social Insurance Number (SIN) for the subscriber (person opening the RESP) or the Business Number of the agency if the child is in care and a SIN for the child (if the subscriber is not the child's primary caregiver, you will need their SIN too).
- To request a CLB, open a Registered Savings Plan (RESP) with a participating RESP promoter. A bank account is not necessary to open an RESP.
- Once the application is approved, the CLB will be deposited in the RESP for every year that the child is eligible. If you do not see that this is happening--and you know that the child is eligible--be sure to speak with your RESP contact or organization.
What is the catch?
Access to this free money is dependent on your child's decision to pursue post-secondary education within the timelines provided by the Government (by the end of the plan's 35th year). If the funds are not used on or before the 35th year of the plan, the CLB is returned to the Government of Canada (**specified educational plans can allow for the CLB to remain open up to 40 years).