The Canada Learning Bond (CLB)

It’s never too early to help a child’s dreams come true.

The Canada Learning Bond (CLB) is a Government of Canada grant to help modest-income families start saving early for their child’s education after high school. 

The Canada Learning Bond is put directly into an RESP in which the child is named as a beneficiary.

Eligibility for the CLB

You can get the Canada Learning Bond if:

• Your child was born after December 31^st, 2003; and
• Your monthly Canada Child Tax Benefit payment (commonly known as “baby bonus” or “family allowance”) includes the National Child Benefit Supplement.*

_{*The supplement is generally for families with a net annual income below $36,378*.}

The Amount of the CLB

For families who qualify, the Government will add to a child’s RESP by making a first payment of $500. Families that receive the Canada Learning Bond will also get extra payments of $100 a year for up to 15 years, as long as they receive the National Child Benefit Supplement.

An additional $25 will be paid with the first $500 bond to help cover the cost of opening an RESP.

Lifetime CLB Limit

The total CLB available for a child could amount to $2,000.

Using the CLB

As soon as a child named in an RESP is enrolled in a qualifying educational program, he or she can start receiving money. At that time, the CLB along with the CESG and income earned by the money in the RESP is paid to the beneficiary as Educational Assistance Payments (EAPs). Each EAP includes a specific amount of the CLB.

If the child named in an RESP does not continue education after high school, the CLB must be returned to the Government of Canada. The CLB cannot be used by another child.

Steps to Getting the CLB

  To get the CLB, all you need to do is to:

• First apply for a birth certificate and then a Social Insurance Number (SIN) for your child.
• Apply to the Canada Revenue Agency for the Canada Child Tax Benefit.
• Choose the RESP provider that best meets your needs. (RESP providers include most financial institutions, such as banks or credit unions, as well as group plan dealers or financial services providers.)  
• Open an RESP for a child.
• Your RESP provider will apply for the CLB on your behalf.

The grant money will be deposited directly into the RESP.