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The Canada Learning Bond Offers Free Money for your child's education
The Canada Learning Bond (CLB) is money that the Government of Canada deposits directly into a child’s Registered Education Savings Plan (RESP) account to help get a head start on saving for their education after high school.
Receive up to $2,000 towards your child's education
IS MY CHILD ELIGIBLE?
Born on or after January 1st, 2004
Has a valid Social Insurance Number
Is a resident/citizen of Canada
Two Sign-Up Options
Bank, Credit Union or RESP Seller
Book an appointment at a bank, credit union or RESP seller to set up a Registered Education Savings Plan (RESP). Bring each child's Social Insurance Number (SIN). Bring your Social Insurance Number and photo identification. Ask to set up Canada Learning Bond RESP. There is no fee or contribution required. Banks may encourage you to contribute but it's not required.
You can apply on-line at www.CSTSpark.ca. You must have your Social Insurance Number plus your child(ren)'s Social Insurance Number and your banking information. This is a two-step process that involves a phone call to complete the application. At this time, a $15 fee is required to start. You will be advised of the process when you speak to a representative by phone.
Don't Delay, Apply Today!
The Child's Primary Caregiver has to apply for the Canada Learning Bond on behalf of the child.
17,271 eligible youth in Lambton County are missing out on the opportunity to have up to $2,000 put into their RESP for education after high school!
Let's change that!
This money can be used for college, university, apprenticeships and trades!
EDUCATION SAVINGS WEEK
Education Savings Week is the third week of November.
In 2023 it is the week of November 13-17.
Look for posts about education savings.
More information about this year’s events coming soon!
Frequently Asked Questions
The Canada Learning Bond is money that the Government of Canada deposits into a Registered Education Savings Plan (RESP) for a child’s education after high school. The total amount the Government deposits can be up to $2,000 – $500 for the first eligible year, and $100 each subsequent year that your child is eligible.
A RESP is an education savings account set up with a financial institution like a bank, credit union or group plan dealer. The money in the RESP will grow tax free until it can be used for expenses related to your child’s studies in:
– Apprenticeship Programs
– Trade Schools
No. Through the Canada Learning Bond, the Government will add money to the RESP for an eligible child every year, even if you do not add any money. Many banks and credit unions will encourage you to contribute to the RESP but it is not necessary. You may have to ask for a manager to assist you. If you have questions or concerns, call Employment and Social Development Canada (ESDC) at 1-888-276-3624 for assistance.
From a child’s birth to age 18, a parent, grandparent or legal guardian may open the RESP in the beneficiary’s name.
For people between the ages of 18 and 21, your child must open the RESP for yourself and apply for the CLB grant.
Individuals over 21 years of age cannot apply for the Canada Learning Bond.
If the child qualifies for the CLB, the payments are retroactive.
No. Applying for and receiving the Canada Learning Bond will NOT affect any other benefits that you or an eligible child receives.
A subscriber has 35 years after the plan is first opened to use the funds before the RESP expires (unless otherwise specified in the terms for the plan).
APPLYING FOR ID
Bring proof of permanent residency/citizenship to a Service Canada location (529 Exmouth St. Sarnia) – its quick, easy, and you get the SIN immediately.
You need a birth certificate to get a Social Insurance Number.
There is a fee to obtain your birth certificate.
If you are not able to afford a birth certificate, you can ask for assistance with the fee from the Inn of the Good Shepherd or the Women’s Interval Home, which are both in Sarnia.
These document need to be original – photocopies are not accepted.
Examples of proof of citizenship are:
– Birth Certificate
– Canada Passport
Examples of proof of permanent residency:
– Permanent resident card
If you are registering a newborn with Service Ontario online, you can choose the “5 in 1” option. This will automatically send only basic and required information to your bank – they will contact you to set up an appointment to open an RESP account for your child.
Online Newborn Registration can be found HERE.
Increasing the education levels of Lambton residents is good for everyone! Business and industry will have an educated workforce which leads to competitiveness in the marketplace. Education is a key tool in supporting the goals of the Intelligent Community initiative as well as helping to reduce poverty.
162 Lochiel St., Suite 100
Sarnia, ON N7T 7W5
P: (519) 332-0998