InfoCapsule 9: The Canada Learning Bond

On this page

• List of acronyms
• Preface
• Eligibility criteria
• CLB features

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Preface

The Canada Learning Bond (CLB) is an education savings incentive for eligible children from low-income families.

The CLB amounts accumulate for each child until the benefit year in which they turn 15 years of age, even if they are not beneficiaries of a Registered Education Savings Plan (RESP).

A subscriber must open an RESP to receive the CLB. It can be either an individual plan or a family plan in which all beneficiaries are siblings.

Eligibility criteria

• The beneficiary must be a resident in Canada when the CLB is paid
• The beneficiary must be born on or after January 1, 2004
• The beneficiary must be less than 21 years of age at the time of the application
• A valid Social Insurance Number (SIN) is required for:
  • the subscriber
  • the beneficiary, and
  • the individual primary caregiver (PCG) or their cohabiting spouse or common-law partner for beneficiaries under 18 years old
• A business number (BN) is required for a public PCG (department, institution or agency)

• Since July 2017, eligibility for the CLB is based, in part, on:
  • the number of qualified children, and
  • the adjusted income of the individual PCG
• The individual PCG must:
  • file income tax returns
  • be eligible to receive the Canada child benefit (CCB)
• The public PCG must receive a payment under the Children’s Special Allowances Act for a child in care, for at least one month of the benefit year

CLB features

• The CLB is an initial amount of $500 plus $100 for each year of eligibility for a beneficiary until the benefit year in which they turn 15 years of age
• The CLB may be retroactive
• There is a lifetime CLB limit of $2,000 per beneficiary
• The beneficiary can request their own CLB entitlements from the day they turn 18 years of age until the day before they turn 21 years of age
• No contributions are required to receive the CLB