Written by: Universitas

November 19, 2018

What exactly is the CLB?

Canada Learning Bond or CLB is a grant offered by the federal government for low-income families who wish to save for their children’s post-secondary education.  

To receive the CLB for their children, all parents need to do is open a registered education savings plan (RESP), an investment vehicle that truly pays off for all families.

Unfortunately, too few families know about the CLB and a lot of money is being left on the table for eligible children! In 2016, only 35% percent of eligible children across Canada received this grant (these numbers were 40% and 25% for Quebec and New Brunswick, respectively), simply  due to lack of information.1

Are you among the 65% of Canadians who aren’t pocketing money that’s theirs for the taking? 

 How much can I get from the CLB?

This grant can reach $2,000! The total amount to which a child is entitled is determined based on the adjusted net family income of his or her primary caregiver (more details further in the article).

An initial sum of $500 is deposited to the RESP at plan opening and an additional $100 is paid each year of eligibility until the child’s 15th birthday.  

Can I receive the CLB without having to invest in an RESP?

Absolutely! Universitas Financial offers eligible families the option to open an RESP solely to receive CLB amounts. There is no sales charge to open this plan and no obligation to invest a single penny. 

Is my child eligible for the CLB?

The following conditions must be met to receive the CLB. Your child is eligible for the CLB if he or she:

  • is born after December 31, 2003
  • is a resident of Canada
  • has a valid Social Insurance Number (SIN)
  • is named in an RESP
  • is from a family who is financially eligible


If you don’t have your child's social insurance number (SIN) yet, simply apply to Service Canada.

If I receive the CLB, will I continue to receive my other government benefits?

Rest assured, the CLB (like all other education savings grants) has no impact on other benefits you receive from the Government of Canada.

What does it mean to be financially eligible for the CLB?

Since July 2017, eligibility for the CLB has been calculated based on the adjusted family net income of the child’s primary caregiver and the number of eligible children in a family. The primary caregiver refers to the person eligible for the Canada Child Benefit (CCB).

Families with three or fewer children could qualify for the CLB if their adjusted family net income is equal to or less than the lowest income tax bracket.

In the case of families with more than three children, a more complicated formula applies, but here is a straightforward table of the CLB eligibility criteria for 2017-2018:

Number of Children

Adjusted Net

Family Income

1 à 3

Less than or equal to $45,916


Less than $51,809


Less than $57,724


Less than $63,640


Less than $69,556


Less than $75,472


Less than $81,388


Less than $87,304


Less than $93,220


Less than $99,136


Less than $105,052


Less than $110,968


Less than $116,884


Less than $122,800


To learn more about the eligibility calculations, switch over to the Government of Canada website.

Curious to know if you are eligible to receive the CLB for your child? Contact us today at universitas.ca or call 1-877-710-RESP (7377).


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