The Canada Learning Bond (CLB) is money that the Government adds to a Registered Education Savings Plan (RESP) for children from low-income families.
What is the Canada Learning Bond?
The Canada Learning Bond (CLB) is money that the Government adds to a Registered Education Savings Plan (RESP) for children from low-income families. This money helps to pay the costs of a child’s full- or part-time studies after high school at:
No personal contributions to an RESP are required to receive the CLB.
How much a child could receive:
The Government of Canada contributes up to $2,000 to an RESP for an eligible child. This includes:
Eligibility:
Eligibility for the CLB is based on the:
Adjusted Income is an individual's net income plus that of their spouse or common-law partner, where applicable;
RESPS
What are RESPs?
RESPs are savings plans that allow your contributions to grow tax free. On top of your own contributions, RESPs are eligible for government grants that can bolster savings. RESPs are set up for a beneficiary (such as a child or grandchild) and by a subscriber (whoever is contributing money to the plan, like a parent or grandparent).
Types of RESP’s
Individual 🙋
An individual plan can have only one beneficiary, who doesn't have to be related to the subscriber.
Family 🙋🙋🙋🙋
A family plan lets the subscriber name
more than one beneficiary, add a beneficiary or change the beneficiary at any time. Beneficiaries in a family plan
have to be related to the subscriber by blood or adoption.
QUESTIONS?
My Child is Ready to go to School - Now What?
What if my Child doesn't Attend Post Secondary?
How Does the YWCA Help?
Contact
stacey for more info or
sign up here for a one to one information/sign up meeting!
Please note that these accommodations are changing regularly and once individuals and MA's have confirmed, some spaces may open up but we know for sure only Sparrowview Suites are left. Thank you.
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