The Canada Learning Bond (CLB) is a great program to kick start saving for post-secondary education.
First, you need to gather your personal information.
You need your Social Insurance Number. Each child needs to have a Social Insurance Number as well.
If you are not the child’s parent but the primary caregiver, you will need your Social Insurance Number to apply on behalf of the child.
Click here for details on Social Insurance Numbers.
Once you have SINs for everyone involved, contact a participating Registered Education Savings Plan (RESP) promoter. Click here to see a list of promoters. Most of these provide the national company information. They will have local promoters that will process your application. Click here to see the list.
Since you don’t need a bank account to apply for the CLB there is the option to apply online through the CST Spark Program. Click here for details.
Once the application is approved, the CLB will be deposited in the RESP for every year that the child is eligible. It will take a few weeks to process but check to see that the funds have been deposited into the child’s account.
