RESP FUN FACT #1 🇨🇦
You may be able to get government money for a child’s education even if you contribute nothing yourself.
It’s called the Canada Learning Bond (CLB).
Eligible children from lower-income families can receive up to $2,000 into an RESP.
And here’s the surprising part:
You do not need to contribute your own money to receive the CLB.
The bond can include:
* $500 for the first year of eligibility
* $100 for each additional eligible year
* Up to a lifetime maximum of $2,000
So for some families, simply opening the RESP and applying for the benefit can matter.
