Free Education Money - Canada Learning Bond


You can get up to $2,000 in free education money for each child in your family. Yes, completely FREE!  All you have to do is open a Registered Education Savings Plan (RESP). You don't have to put any of your money into the plan to get this money from the Government of Canada. When you open an RESP, the Government will deposit $500 right away and could deposit up to $1,500 more by the time your child is 15. That's up to $2,000 for your child’s education after high school.

Can My Child Get the Canada Learning Bond?

Your child can get the Canada Learning Bond if your child was born January 1, 2004 or after AND your family receives the National Child Benefit Supplement

How Do I get My Child's Canada Learning Bond?

To get the Canada Learning Bond you have to start an RESP account by contacting us to meet in person with you or at anytime online with a licensed RESP provider using code 213551 where the Government can deposit the money. You and your child both need to have a Social Insurance Number to register an education savings plan.

What's the Catch?

The Canada Learning Bond can only be used for post-secondary education. If your child does not continue their education, the Government may take the Canada Learning Bond back or you may be able to transfer it to another child. Find out more from the Government of Canada's Canada Learning Bond brochure here.

Even if your child doesn't qualify for the Canada Learning Bond, you can still get money from the Government for your child's education by learning about the Canada Education Savings Grant below.



Canada Education Savings Grant


The Canada Education Savings Grant (CESG) is another way the Government of Canada provides money for your child's education after high school. When you put money into an RESP, the Government adds more to help your child's savings grow faster. Your child will qualify for the CESG until the end of the year they turn 17.​

How Much Can My Child Get?

Everyone can get Canada Education Savings Grants, but how much the Government adds depends on your family's net income after taxes. When you contribute to your child's RESP, the Government will add:

40% more: If your income is less than $45,282

30% more: If your income is between $45,283 - $90,563

20% more: If your income is more than $90,564

Up to a lifetime maximum of $7,200 per child


You can contribute as little as $25 per child per month but need to contribute at least $2,500/year per child to get the full grant of $500 each year. Your child can carry forward unused grant contribution room until they turn 17.

How Do I Get the Canada Education Savings Grant?

You must contribute money into an RESP to get a matching grant from the Government. You have to start an RESP account by contacting us to meet in person with you or at anytime online with a licensed RESP provider using code 213551 where the Government can deposit the money.  You and your child both need to have a Social Insurance Number to register an education savings plan.

What's the Catch?

The Canada Education Savings Grant can only be used for post-secondary education. If your child does not continue their education, the Government may take back the money they've given you in grants or you may be able to transfer it to another child however all contributions made and investment gains is yours to keep.



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