Friday, July 18, 2008

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

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