SAVINGS & INVESTMENTS
SCALE UP provides information and facilitates the uptake for the Canada Learning Bond and Canada Educational
Saving Grant that are offered by the federal government plus other financial incentives.
The Canada Learning Bond (CLB) is money that the Government adds to a Registered Education
Savings Plan (RESP) for children from low-income families. This money helps to pay the costs of
a child’s full- or part-time studies after high school at:
-Apprenticeship programs
-CEGEPs
-Trade schools
-Universities
CANADA LEARNING BOND - CLB
The Canada Learning Bond (CLB) is a government program that provides up to $2,000 per child to help encourage low-income families to begin saving for their child or children’s post-secondary education. These funds are paid into a Registered Education Savings Plan (RESP) but personal contributions aren’t required in order to qualify for these CLB payments.
Employment and Social Development Canada (ESDC) provides an incentive for parents, family and friends to save for a child's post-secondary education by paying a grant based on the amount contributed to an RESP for the child. The Canada education savings grant (CESG) money will be deposited directly into the child's RESP.
CANADA EDUCATION SAVINGS GRANT - RESP
A Registered Education Savings Plan (RESP) is a registered account that’s used to save for your child’s education. Your contributions grow tax-free until your child is ready to start their post-secondary studies. Your child may also be eligible for the Canada Learning Bond and the Canada Education Savings Grant – government grants added to a RESP to help further fund your child’s education.
EMPLOYMENT AND SOCIAL DEVELOPMENT CANADA - ESDC
Employment and social development programs and policies and activities related to their development to support the Government of Canada. This includes consultations, frameworks, plans and research.
