The Canada Learning Bond is a government program that provides financial assistance to low-income families to help save for their children’s post-secondary education. The program offers a bond of up to $2,000, which is deposited into a Registered Education Savings Plan (RESP) for eligible children. The bond is available to children born after 2003, and the amount of the bond depends on the family’s income level. The purpose of the Canada Learning Bond is to encourage and support families in saving for their children’s future education expenses.
The Canada Learning Bond is a government grant designed to help low-income families save for their child’s education after high school.
Families with a child born after December 31, 2003, who are eligible for the National Child Benefit Supplement are eligible for the Canada Learning Bond.
Eligible families can receive up to $2,000 for each child to help with the cost of post-secondary education.
You can apply for the Canada Learning Bond through a participating financial institution or by contacting the Canada Revenue Agency.
Yes, you can still receive the Canada Learning Bond even if you have an RESP for your child.
The Canada Learning Bond can be used for a wide range of educational expenses, including tuition, books, and living expenses.
The Canada Learning Bond is specific to each child and cannot be transferred to another child.
There are no fees associated with the Canada Learning Bond. It is a government grant and does not require any contributions from the recipient.
Yes, permanent residents and refugees in Canada are eligible to receive the Canada Learning Bond for their children.
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This glossary post was last updated: 10th April 2024.
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