Canada Learning Bond

What is the Canada Learning Bond?

Are you an applicant or current student with a Registered Education Savings Plan (RESP)? You may be eligible for the Canadian Learning Bond. With this bond, the government adds a $500 - $2,000 per person benefit to an RESP for children from low-income families. This money helps to pay for the costs of full or part-time studies after high school at:

  • apprenticeship programs
  • colleges
  • universities
  • trade schools
  • CEGEPS

What is an RESP?

An RESP is a special savings account for parents who want to save for their child's education after high school.

While often opened by parents, anyone can open an RESP account for a child including guardians, grandparents, other relatives and friends.

Learn more about RESPS

How to request the Canada Learning Bond

Eligibility

PARENTS

  1. Must be a Canadian permanent resident or citizen
  2. Must have a child, or children, born on or after January 1, 2004
  3. Must have a household income of less than $50,197
  4. More than three kids? Check eligibility requirements for more details
  5. Must have a valid Social Insurance Number (SIN) for yourself and your child

YOUNG ADULTS

  1. Must be a Canadian permanent resident or citizen
  2. Must be turning 18 on or after January 1, 2022
  3. Parents must have a household income of less than $50,197
  4. Must have a valid Social Insurance Number (SIN)

Information for Applicants/Students

If you are 18 years old and are applying for yourself, you do not require parental or guardian information to open an RESP and request your Canada Learning Bond.

However, if someone has already set up an RESP on your behalf, you can ask them to request the Canada Learning Bond. To do this, they must connect with the financial institution they used to set up the RESP to complete the application process. If you're eligible, it can take up to 2 months of the bond to be deposited into your RESP.

Information for Parents/Guardians

For parents/guardians who have already opened an RESP and meet the eligibility requirements, you must contact the financial institution you chose to set up the RESP to complete the Canada Learning Bond application.

If eligible, the Canada Learning Bond will be deposited into the RESP. This can take up to 2 months.

Land acknowledgement

George Brown College is located on the traditional territory of the Mississaugas of the Credit First Nation and other Indigenous peoples who have lived here over time. We are grateful to share this land as treaty people who learn, work and live in the community with each other.


Learn more about our land acknowledgment