Registered Education Savings Plans (RESPs) -> Canada Learning Bond (CLB)
Canada Learning Bond (CLB)
Canada Education Savings Act s. 6
The Canada Learning Bond is a Government of Canada grant which is paid directly into a child's RESP. It is available to families who are receiving the National Child Benefit (NCB) as a supplement to their Canada Child Tax Benefit (CCTB), for children born after 2003.
The initial CLB payment is $500. The child can receive annual $100 CLB payments up to age 15, for each year in which the family is entitled to the NCB supplement. The maximum CLB that can be received by a child is $2,000.
Your RESP provider will apply for the CLB on your behalf.
For more information, see the following resources:
Canada Education Savings Grant Regulations s. 10(3)
Note that if the beneficiary of the RESP is a non-resident at the time of Educational Assistance Payments, then the Canada Education Savings Grant (CESG) and CLB portions of the RESP cannot be paid. A beneficiary can be a student at a foreign educational institution and still be considered a Canadian resident in some cases. See our information on Canadian residents.
Revised: February 14, 2016
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