At OLDF, we believe in financial empowerment for the groups we serve. This was why we have embarked on the Canada Learning Bod Project. We want you to help your children or youth get started in funding their education.
What is Canada Learning Bond?
The Canada Learning Bond, popularly known as (CLB) is money that the Government adds to a Registered Education Savings Plan (RESP) for children from low-income families to assist them in paying for high education.
Do I need to contribute my money?
NO personal contributions to an RESP are required to receive the CLB.
When should I start?
The earlier, the better.
How much could a child get?
The Government of Canada contributes up to $2,000 to an RESP for an eligible child. This includes:
- $500 for the first year of eligibility
- $100 each year the child continues to be eligible (up to and including the benefit year in which they turn 15)
What if I child does not apply to a public institution?
That is fine; you can use the funds for a private institution as well
How do I sign up?
Contact us at firstname.lastname@example.org; we will be running several information sessions and helping you through the whole process