The Canada Learning Bond (CLB) is a contribution from the federal government for low-income families, to help them to save for the purposes of paying the post-secondary studies of their child.
RESP Education Centre
The Studies
Government Assistance
> Who can receive the CLB?
Any child born on or after January 1st, 2004 whose family is admissible for the National Child Benefit Supplement (NCBS)* can receive the CLB. The same goes for children in the care of a public officer ** for whom Children’s Special Allowances are paid.
> How much can be received?
The CLB is composed of an initial amount of $500 paid directly to the RESP of the beneficiary whose family is eligible for the NCBS. This is usually a family whose revenue is less than $37,885 ****.
This beneficiary may also be eligible to receive up to 15 additional payments of the CLB of $100 each (up to the age of 15 years), being a payment for each year during which their family continued to be eligible for the NCBS. By the time the beneficiary has reached 16 years, the CLB can have amounted to $2,000 in education savings.
Take full advantage of your savings. Speak to a Universitas representative in order to understand more completely the advantages that the CLB can give you!
* Please note that the NCBS is part of the Canada Child Tax Benefit (CCTB) administered by the Canada Revenue Agency (CRA).
** This may be the Public Curator or a department, organisation or establishment having care of a child.
***These amounts are indexed each year.
