Canada Learning Bond

As part of the 2004 Canadian federal budget, the Minister of Finance Ralph Goodale introduced the Canada Learning Bond as a way to encourage low-income families to use a RESP for saving money to be used for a child's post-secondary education.

[1] As part of the 2006 Canadian federal budget, Minister of Finance Jim Flaherty maintained the status quo of the CLB program by specifying that the proposed 2006 Universal Child Care Benefit (i.e., $1,200 per year per child under six) would not be considered as income when determining eligibility for the CLB.

[3] In December 2006, a spokesperson for Minister of Human Resources Diane Finley described the launch of marketing efforts to address the low awareness of the CLB program.

[4] The Canadian federal government provides the CLB to families who are entitled to the NCB and have children under the age of fifteen who were born after 2003.

[1] After setup, the Canadian federal government provides a $100 CLB installment payment for each year the family remains entitled to the NCB and until the child turns fifteen.