RESP - Grant - Canada Learning Bond (CLB)

This is another grant that is provided by the Government of Canada. I did the math and I don't qualify for it. Maybe you can depending on your family income.

Canada Learning Bond:

• Money Amount: 
• Up to $2000 (free money into RESP account)
• Paid in month of August
• Deposit directly into child's RESP every year that he/she is eligible
• Who can get?
• Available to children who were born after December 31, 2003 and whose families receive the National Child Benefit Supplement. (The Supplement is over and above the Canada Child Tax Benefit and is usually received by lower-income families.)
• Link for calculator
• Conditions for Usage:
• Note: If a child does not attend school after high school, any grant money received must be paid back to the Government of Canada.

Special Disclaimers:

• Not all RESP providers offer the Canada Learning Bond - check the fine print with the various RESP providers!

Source of Information:  Government Link