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The Details

Are you eligible?

If your child was born January 1, 2004 or after and your family receives the National Child Benefit Supplement you are eligible for the Canada Learning Bond.

If you are not eligible for the Canada Learning Bond, there are other government programs that can help you save for your child's education.

How do you get the Canada Learning Bond?

  1. Open and Registered Education Savings Plan (RESP) with a bank or licensed RESP provider.
  2. Make sure you have a Social Insurance Number for you and your child.
  3. Once the RESP is opened for your child, the bank will apply for the Canada Learning Bond on your behalf.
  4. Once you have set it up, you will not have to do anything more. You will continue to receive the contributions as long as your family remains eligible.

What is the catch?

It really is free money to help you save for your child's education. The catch is that if your child does not pursue post secondary education after high school the government will simply take the Canada Learning Bond back.

free money for your kids yes really