Do you already have a Registered Education Savings Plan (RESP) for your child/children? Did you apply for the Canada Learning Bond at the time you set the RESP up?
Did you know that depending on when you started the RESP you may have opted out of the CLB? Up until about five years ago, you had to opt-in to receive the CLB when you set up the RESP. This means that if you thought your income was too high, they government wouldn’t calculate any entitlement because you said “No”. RESP applications in the last five years (approximately) requires people to opt-out of the Canada Learning Bond.
Follow this flow chart to ensure that if your child is eligible, they don’t miss out on any of the Canada Learning Bond money they may be entitled to.
Even if you are unsure of whether or not you qualify, there is no cost to to find out!
If you have any questions, call Employment and Social Development Canada (ESDC) at 1-888-276-3624 for assistance
