Government money for your child’s education

You know that education is important to your child’s future success, but you’re not sure how to pay for it. The best way to start is to make sure your child gets the Government funding that is available through a Registered Education Savings Plan (RESP).

The Government gives families the Canada Learning Bond. It goes right into your child’s RESP even if you don’t have money to contribute yourself. The Government will also add money to whatever you can save.

SmartSAVER does not sell RESPs or investments. SmartSAVER is a non-profit community project based in Toronto that helps families learn how to start an RESP and how to get Government money for their children’s education after high school.

Free Education Money

Canada Learning Bond

You can get up to $2,000 in free education money…REALLY! 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.

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

To get the Canada Learning Bond you have to start an RESP account with a licensed RESP provider 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. Your child must USE IT OR LOSE IT! If your child does not continue education after high school, the Government will take the Canada Learning Bond back.

Find out more from the Government of Canada’s Canada Learning Bond brochure. ( 302k PDF File)

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. Find out about the Canada Education Savings Grant.

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