Backgrounder: Canada Learning Bond

The Canada Learning Bond (CLB) is money that the Government of Canada deposits directly in Registered Education Savings Plans for children from low-income families, born in 2004 or later, to help pay for their post-secondary education. The CLB provides an initial payment of $500 plus $100 for each year of eligibility, up to age 15, for a maximum of $2,000. Personal contributions are not required to receive the CLB.