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Canada Learning Bond – Start Your Child’s Education Savings

The cost of education after high school in Canada is getting steeper, to date, the estimated full cost of a 4-year undergraduate degree from a Canadian university can cost to $30,000. As a parent, you want the best possible education for your child, as an option to help your child with their education, you can either borrow the money for their education, get the money from your retirement funds or investment, you can also re-mortgage your home or just let your child work to earn his own money or let him get a student loan…. Or as early as possible, you can get a head start in saving for your child or children’s education.

The Government of Canada helps parents in getting a head start to save for their children’s education through some of its initiative including the Canada Learning Bond (CLB). CLB is available to children who were born after December 31, 2003 and whose families receive the National Child Benefit (NCB) Supplement.  CLB is intended to help modest-income families start saving early for their child’s, or children’s, education after high school.

If your child is eligible for CLB, you will receive a one-time initial contribution of $500 to your child’s RESP with an additional $100 for each year of eligibility until age 15.  Over time, this grant could add up as much as $2,000.00.

In order for a child to receive CLB, the child must have their own registered education savings plan (RESP) account with a licensed RESP provider where the Government can deposit the money. The parent/guardian and the child both need to have a Social Insurance Number to register an education savings plan.  It is not necessary to put any of your money into the plan to get this money from the Government of Canada. When you open an RESP, the Government will deposit $500 right away.

There are over 1.5 million families in Canada who are eligible to CLB!  Unfortunately,  they are not getting it because they do not apply for it.  This is why, I thought of writing this post to help call attention and to urge any  readers who know someone who might qualify for the Canada Learning Bond to help them get it.

SmartSaver a non-profit community project that helps the government spread the word about CLB to eligible families, their goal is to  make it easier for families to understand and access the government money that is available for education after high school.  As part of their campaign, they are doing a weekly raffle draw for all qualified applications – they are giving a total of 9 weekly prizes ($1000 each week).

To know more about CLB and to start with your child’s education savings visit



Momsiecle is short for Momsie's Circle. I started my first blog on a free blogging platform in 2006 as a just for fun blog. When my family and I moved to Winnipeg in 2009, I started to write about my challenges and discoveries about living in Canada as an immigrant. In 2012, I decided to make a place to come for aspiring Canadian immigrants and for people who are embracing life in the “new world” that they are in.

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Cup of Tyh

Thanks for stopping by, as I make this space to be my superwoman wannabe diary, I want to share my life experiences as a mom, an immigrant, a financial advisor, a mortgage specialist and my life in general.

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