Canada Learning Bond (CLB)

Background:
Families with children born in 2004 or later whose parent/guardian receives the National Child Benefit (NCB) Supplement (less than $37,178* net income) qualify for the Canada Learning Bond (CLB).

• The Canada Learning Bond provides a one-time initial payment of $500 made to an eligible child's Registered Education Savings Plan (RESP).

If the parent continues to be qualified the government will continue to contribute additional $100 for each year of eligibility up to a maximum of 15 years - $2,000 in grant payments, plus interest.

How to apply for the Canada Learning Bond:

• Register the birth or adoption of the child and apply for a birth certificate.
• Download a SIN application and apply for a Social Insurance Number.
• Open a Registered Education Savings Plan (RESP) with an RESP provider, such as Heritage Education Funds.
• Download an appropriate form for your CLB application - HRSDC 0073 E / HRSDC 0071 E

Source:heritageresp.com