In Canada over 2.2 million children are eligible for the CLB but only 3 in 10 are receiving it. In Lambton County only 32% of eligible children are registered for the CLB.
The barriers reported include:
- Low awareness in general and, in some cases, fear associated with Registered Education Savings Plans (RESPs) and the CLB. A child needs an RESP to access the CLB and other federal and provincial grants.
- Product confusion. Families are often unaware that RESP products differ by provider and are unable to understand the costs, conditions and potential risks associated with each RESP product.
- The multi-step administrative process required to start an RESP and apply for the CLB and other grants could scare parents off.
- An RESP requires a social insurance number for both the parent and the child. Applying for a social insurance number requires a birth certificate. A social insurance number is free to apply for, but there are fees associated with applying for a birth certificate.
Parents need easy access to resources to start saving for their children’s education. If you still have questions, contact us for help using the contact form.
