Government of New Brunswick

Canada Learning Bond
#EveryChildAnRESP

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The Canada Learning Bond (CLB) helps children from families with low-income, or children in care, pay for the future costs of full- or part-time studies after high school, whether in a trade program, college or university. For those eligible, the Government of Canada provides between $500 and $2,000 for education-related expenses after high school into a Registered Education Savings Plan (RESP). Most importantly, no contributions into an RESP are required to receive the CLB.

Starting in January 2022, approximately 148,000 young people between the ages of 18 and 20 will be eligible for an average of $1,300 in unclaimed CLB. The process for them to access the funds is clear, but awareness is low. All that would be required to access these monies would be to open an RESP. By applying for the CLB, these young adults can take a step to finance their own post-secondary education, and set themselves up for better careers, and a brighter future.

Charley and Jack also have stories about the Canada Learning Bond!
 

Eligibility


The Canada Learning Bond is available to children:

  • Born on or after January 1, 2004.

    and
  • Family’s net income is $50,197 or less for a family of up to 3 kids (from July 1st, 2022 to June 30, 2023). For families with more than 3 children. (Canadians can quickly access a proof of income statement anytime by clicking here).

    and
  • Already receiving the Canada Child Benefit or have ever received the National Child Benefit Supplement.

What funding is available?

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Upon acceptance, eligible children receive $500 plus $100 more for each year they are eligible (to age 15 or maximum $2,000).

You do not have to put any of your own money into the RESP to receive the Canada Learning Bond.

Note: Benefits are also available for all the years the child was eligible prior to the application.

What do I need to apply?

 

  • There is no cost to apply!
  • Social Insurance Number (SIN) for you and your child.
    • For information on a SIN, click here.
    • You can now apply for a SIN online, please click here.
  • Have filed your latest income tax and benefit return.
    • Missed a year or need help filing your income tax and benefit return? You may be eligible to get help at a free tax preparation clinic near you.
    • For more information on the Community Volunteer Income Tax Program click here.

How do I apply for the Canada Learning Bond?


In less than 10 minutes, you can apply online by clicking here.

Reminder: You will need a Social Insurance Number (SIN) for you and your child and have filed your latest income tax and benefit return.  

 

      

Why is important to start saving for the future now?


Research demonstrates that even small amounts of education savings can set in motion a chain reaction of positive social and educational outcomes for a child and their family:

  1. Youth with savings earmarked for their education are 50% more likely to participate in post-secondary education than those who have none.
  2. For children as young as 11, their perception of whether college is financially possible influences their school-focused goals and the effort they put into their school work.
  3. Children with education savings between $1 – $499 are 3 times more likely to pursue postsecondary and 4 times more likely to graduate
     

Get Your Benefits Super Clinics


ESIC, the Canada Revenue Agency and Service Canada are teaming up to help New Brunswickers with a modest income file their taxes, get their children a Social Insurance Number and sign them up for the Canada Learning Bond all at the same time and location.

Click here to know more on the Get Your Benefits Super Clinics.