Saving for your children’s education is easy with the Canada Learning Bond (CLB)! The CLB offers families with low to modest incomes a simple way to start saving now for their children’s future education.
Due to the COVID-19 disruptions, all families will experience longer than usual wait times to set up an appointment with their bank to complete the application process. The current wait time at some banks is estimated to be 14-30 business days.
Did you know?
Youth with savings for their education are 31% more likely to have a post-secondary mindset than those who have none.
Children with education savings of up to $500 are 3 times more likely to enroll in post-secondary and 4 times more likely to graduate.
The Province of Prince Edward Island is working to increase post-secondary opportunities for youth. By focusing on the 10,000 children in Prince Edward Island who are eligible for the Canada Learning Bond, we can build a better future for our children and a stronger, more vibrant province.
What funding is available?
Eligible children receive $500 initially and $100 more each year they continue to be eligible. The CLB is available up to the age of 15 for a maximum of $2,000.
You do not have to put any of your own money into the RESP to receive the Canada Learning Bond.
Money comes from the Government of Canada and is deposited directly into the Registered Education Savings Plan (RESP).
Children eligible for the Canada Learning Bond:
- Children born on or after January 1, 2004.
- A net family income of $47,630 or less for a family with up to 3 kids.
For families with more than 3 children, click here.
What do I need to apply?
A Social Insurance Number for you and your child. The child’s primary caregiver must have applied for the Canada Child Benefit for the child through the Canada Revenue Agency and continue to file income tax returns, allowing eligibility for the Canada Learning Bond to be validated.
Special Update: Due to COVID-19, all Super Clinics have been postponed.
Apply For Your Child’s Canada Learning Bond Today!
If you cannot see the form, click here.
For more information contact us at 1-855-737-7252 (1-855-RESP-CLB) or firstname.lastname@example.org.
Or contact 1 800 O-Canada:
Telephone: 1 800 O-Canada (1-800-622-6232)
From outside Canada: Call 1 800 O-Canada from abroad