Karina Gould, Government of Canada Minister of Democratic Institutions Makes announcement at The Centre about the Canada Learning Bond

Feb 25, 2018

When more people can afford post-secondary education, our economy can grow and our middle class can thrive. That is why the Government of Canada is helping more low- and middle-income families save money for their children’s post-secondary education through the Canada Learning Bond.

The Canada Learning Bond provides up to $2,000 in a Registered Education Savings Plan for children from low-income families, with no personal contribution required. This includes $500 for the first year of eligibility and $100 each following year, until the calendar year they turn 15.

Today, the Honourable Karina Gould, Minister of Democratic Institutions, on behalf of the Honourable Patty Hajdu, Minister of Employment, Workforce Development and Labour, highlighted how the Government of Canada is helping more families save for their children's education. To help more children from low-income families benefit from the Canada Learning Bond, Budget 2017 reallocated $12.5 million over six years, starting in 2017–18, from Employment and Social Development Canada’s existing resources to launch a pilot project. The pilot project will explore new ways to increase awareness and access to the Canada Learning Bond.

Budget 2017 approved amendments to the Canada Education Savings Act to allow the cohabiting spouse or common-law partner of the primary caregiver to request the Canada Learning Bond and the Additional Canada Education Savings Grant on behalf of an eligible child. This change will simplify the application process, ensuring that more children who are eligible for these benefits receive the support they need to help pursue post-secondary education.

"Our government is working hard to make sure that everyone who is eligible for the Canada Learning Bond is receiving it. I encourage all eligible new parents to open an RESP and apply for the Canada Learning Bond to give their child a head start on success." – The Honourable Karina Gould, Minister of Democratic Institutions

“Funds from the Canada Learning Bond can be used by young students for future expenses related to their studies including trades schools and apprenticeship programs such as those offered in the Centre’s skilled trades pre-apprenticeship programs. Support for young people, whether they are studying or working, would not be possible without our local representatives in parliament and federal government, and we’re proud to work with them to improve the lives of citizens in our community.” – Lisa Rizzato, Chief Administrative Officer, The Centre for Skills Development & Training