5 reasons to sign up for the Canada Learning Bond

The Canada Learning Bond (CLB) is a government-funded program that provides money to families to help them save for their child's post-secondary education. To be eligible for the CLB, a child must be born after December 31, 2003 and must be a resident of Canada, and the family must meet certain income requirements.

The CLB provides an initial $500 to eligible families, plus an additional $100 per year up to age 15, for a maximum of $2,000. The money is deposited into a Registered Education Savings Plan (RESP) for the child, which can be used to pay for post-secondary education expenses such as tuition, books, and housing. Families can also receive additional grants, such as the Canada Education Savings Grant, when they make contributions to the RESP.

Here are some reasons to sign up for CLB:

1. The Canada Learning Bond is a free money for education: The Canadian government will deposit money into your child's Registered Education Savings Plan (RESP) to help pay for their post-secondary education. The bond is available to children born on or after January 1, 2004 and whose families are eligible for the National Child Benefit.
2. The bond helps you save for your child's education: The money from the bond can be used to help pay for tuition, books, and other education-related expenses at any recognized post-secondary institution in Canada.
3. The bond can be used to supplement other education savings: The bond can be used in addition to other education savings options, such as scholarships and grants, to help cover the costs of post-secondary education.
4. The bond is easy to apply for: Applying for the bond is simple and can be done online or by mail. You just need to provide some basic information about your child and your family's income.
   
5. The bond is flexible: The money from the bond can be used to pay for any recognized post-secondary education program, including university, college, and trade school programs. This means that your child can choose the education path that is right for them, without worrying about how to pay for it.

Connect with us to assist you with collecting all documents needed to open an RESP account and request CLB government education funding.