Frequently Asked Questions/Fact Sheet: Canada Learning Bond
Fact Sheet
Canada Learning Bond (CLB) fact sheet
Frequently Asked Question
What if my child doesn't continue education after high school?
Do I have to put in any money of my own to receive the bond?
1. Who can get the Canada Learning Bond?
Your child can get the Canada Learning Bond if:
- your child was born after December 31, 2003, and
- you receive the National Child Benefit Supplement as part of the Canada Child Tax Benefit, commonly known as “family allowance”.
2. How much money could my child get from the bond?
- Through a Registered Education Savings Plan (RESP) you could get $500 now to help you start saving early for your child’s education after high school. Your child may also get an extra $100 each year up to age 15, as long as you continue to receive the National Child Benefit Supplement.
- That’s up to $2,000 in Canada Learning Bonds (plus interest) for your child's education.
- An extra $25 will be paid to help cover the cost of opening an RESP.
3. How do I apply for the bond?
It's a simple 2-step process.
- Get a Social Insurance Number (SIN) for your child. There's no fee. However, certain documents, such as a birth certificate or permanent resident card, are required.
- Open a Registered Education Savings Plan (RESP) account with an RESP Provider that offers the Canada Learning Bond. Your RESP provider will apply for the bond on your behalf.
For more information:
- Check out the brochure “Get $500 for your child’s education after high school”.
- Contact 1 800 O-Canada (1-800-622-6232).
- If you use a TTY, call 1-800-926-9105.
- Visit a Service Canada Centre near you.
4. What if my child doesn't continue education after high school?
Since an RESP can stay open for up to 36 years, the money can be used if your child decides to attend school later.
If your child doesn't continue his or her education and you must close the plan:
- The amount you saved goes back to you. Ask your RESP provider for details.
- The Canada Learning Bond must be returned to the Government of Canada.
5. Do I have to put in any money of my own to receive the bond?
No, you don’t have to put any of your own money into the RESP. Ask your RESP provider to apply for the bond, which the Government of Canada will deposit directly into your child’s RESP account.
However, if you choose to contribute to your child’s RESP account, your child will qualify for the Canada Education Savings Grant.
6. Where can I find out more about the Canada Learning Bond?
- Check out the Canada Learning Bond brochure.
- Call 1 800 O-Canada (1-800-622-6232) to order a free copy.
- If you use a TTY, call 1-800-926-9105.
- You can also visit your local Service Canada Centre.
