What is the Canada Learning Bond?
The Canada Learning Bond (CLB) offers up to $2000 towards post-secondary education for youth from modest-income families born on or after January 1st, 2004. If an individual is eligible for the CLB, a one-time initial payment of $500 will be deposited into a Registered Education Savings Plan (RESP) with an additional $100 for each year of eligibility up to age 15.
Am I eligible?
An individual is eligible for the Canada Learning Bond (CLB) if they:
- are from a modest-income family (see chart below)
- are born on or after January 1, 2004
- are a resident of Canada
- have a valid Social Insurance Number (SIN)
- have a birth certificate
- are named in a Registered Education Savings Plan (RESP)
Information for those under 18 / Information for those over 18
| Number of Children | Adjusted Income Level |
|---|---|
| 1-3 | Less than or equal to $53,359 |
| 4 | Less than $60,205 |
| 5 | Less than $67,079 |
For families with more than 5 children, call 1 800 O‑Canada (1.800.622.6232)
How to get a RESP
Those under 18 need a parent to open a RESP where the Canada Learning Bond is deposited. This is done through a bank or credit union. If you are over 18 you can open a RESP yourself. A parent or guardian must have filed their income tax to open an RESP. A free community tax clinic is available in Nanaimo.
Sign Up
Contact VIU Canada Learning Bond project at: CLB@viu.ca or call 250.740.6423
The CLB coordinator will explain the Canada Learning Bond process, answer any questions you may have, and help you set up an appointment with a bank or credit union of your choice to open a RESP.
This project is funded by the government of Canada’s Canada Learning Bond program
Ce projet est financé par le Gouvernement du Canada par le Programme de Bon d’études canadien