There are about 900,000 low income kids in Canada that aren’t collecting the money that is theirs. This money is their to use for almost any form of post-secondary education. Extensive research has shown that post-secondary education can radically change the life of a child raised in poverty.
The Canada Learning Bond (CLB) is a Registered Education Savings Plan (RESP) for post-secondary education that is free to any child born after 2004 living in a family that earns less than $42,0001 a year. Each of these children is entitled to $500 when they register and $100 a year until the age of 15. No parental contribution is required and payments are retroactive to the start of the program. Unfortunately, the CLB RESP is not well- known and therefore, poorly leveraged by parents.
Peel Children & Youth Initiative is mounting a campaign to spread the word about the CLB.
Maytree has extensive research on the benefits of education and how free money makes a difference.
