Did you know that up to two-thirds of Canadian children and youth born after January 1, 2004 are eligible for the Canada Learning Bond (CLB) and have not applied for it?
An article on Yahoo! Finance reported that as of January 1, 2022, there were 1.6 million Canadians who are eligible for at least $500 from the Canada Learning Bond but haven’t applied for it.
Approximately two-thirds of children born after January 1, 2004 are eligible for at least $500 through the CLB, and some could receive up to $2,000 depending on eligibility requirements.
The CLB provides up to $2,000 in Registered Education Savings Plan (RESP), with no contribution required from the individual. Applications for the CLB can be made on-line or through financial service providers. If you already have a RESP for your children, you are encouraged to check with the financial service provider to see if there is any eligibility for the CLB.
