Launch of Call for Concepts to increase awareness and take-up of Canada Learning Bond
Press Release
November 23, 2017 Gatineau, Quebec Employment and Social Development Canada
When more people can afford post-secondary education, our economy can grow and our middle class can thrive. That’s why the Government of Canada is helping more low- and middle-income families save money for their children’s post-secondary education through the Canada Learning Bond (CLB).
The CLB provides up to $2,000 in a Registered Education Savings Plan (RESP) for children from low-income families, with no contribution required from the child’s family. This includes $500 for the first year of eligibility and $100 each following year, until the calendar year they turn 15.
Today, during National Education Savings Week, the Honourable Patty Hajdu, Minister of Employment, Workforce Development and Labour, launched a national Call for Concepts to help more people access the CLB and save for their child’s post-secondary education. The Call for Concepts will give preference to projects that help hard-to-reach and vulnerable populations, such as Indigenous children, and projects that address the challenges faced by those seeking to open an RESP.
$7 million will be awarded to organizations over the next three years to implement the chosen concepts, once full proposals have been developed and selected in the next stage.
Quotes
“Making post-secondary education more affordable for all Canadians, especially those from low- and middle-income families, isn’t just the right thing to do—it’s the smart thing to do. Children with education savings are more likely to attend and complete post-secondary education and graduate with less debt. Helping more people access post-secondary education is a key way in which we can grow the economy and strengthen the middle class.”
– The Honourable Patty Hajdu, Minister of Employment, Workforce Development and Labour
Quick Facts
- While take-up of the CLB has steadily increased from 0.2 percent in 2005 to 34.7 percent in 2016, two thirds of eligible children are not yet receiving this education savings incentive, representing approximately 1.8 million children across Canada.
- In May 2017, the Government of Canada provided the millionth CLB in an RESP; helping 1 million Canadian children save for their post-secondary education.
- The deadline for applications is January 16, 2018.
Related Products
Associated Links
- Call for Concepts to Increase awareness and take-up of the Canada Learning Bond
- Canada Learning Bond
- Registered Education Savings Plans
Contacts
Matt Pascuzzo
Press Secretary
Office of the Honourable Patty Hajdu, P.C., M.P.
Minister of Employment, Workforce Development and Labour
matt.pascuzzo@hrsdc-rhdcc.gc.ca
819-654-4183
Media Relations Office
Employment and Social Development Canada
819-994-5559
media@hrsdc-rhdcc.gc.ca
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