Backgrounder: Canada Education Savings Program

The Canada Learning Bond is money that the Government of Canada deposits directly in Registered Education Savings Plans (RESP) of children from low-income families, born in 2004 or later, to help pay for their post-secondary education. The Bond 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 Bond.