Registered Education Savings Plan

Canada Learning Bond

The Canada Learning Bond (CLB) is an incentive from the Government of Canada that helps lower income families start saving early for their child’s postsecondary education. You may be eligible for it through your Desjardins RESP.

Eligibility

• The beneficiary must be born after December 31, 2003.
  
• The child’s guardian must already be receiving the National Child Benefit Supplement (NCBS) through the Canada Child Tax Benefit (CCTB). For 2010, the NCB is usually offered to families whose net income in 2009 is $ 40,970* or less.

Features

• An initial payment of $500 into your child’s Desjardins RESP
  
• $100 annually until the child reaches the age of 15, up to a maximum total of $2,000 in tuition vouchers towards the child’s education, without having to make contributions to an RESP.
  

We recommend investing the money from a CLB into one of the savings options eligible for the RESP as soon as you receive it.