The headline of TB News Watch caught my attention. This is free money and only 34.7 per cent of those eligible for the Canada Learning Bond Program are actually enrolling their children?
Nearly 2 Millions Low Income Students Missing Out On Education Cash!
Canada Learning Bond Eligibility
Canada Learning Bond program provides no-strings-attached RESP deposits of up to $2,000 per child to families who qualify. The 14-year-old program provides $500 in the first year and $100 in every subsequent year until the enrollee reaches 15.
If your child was born in 2004 and later? Your child may be eligible for the FREE $500 Canada Learning Bond.
How do you apply for RESP?
In the recent Federal Budget 2018 parents will be able to open an RESP and claim the $500 Learning Bond at the same time that they apply for a birth certificate for their children. This will automatically enrol children born into low-income families for the grant.
In the meantime – If you have children born after 2004 and you haven’t signed up yet, what’s stopping you? Don’t have a Social Insurance Number? It’s free. Call 1-800-O-Canada.
Conclusion
If you have questions about Canada Learning Bonds for your child or grandchild, feel free to contact us. We are here to help you select the best option for you and your family.
