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Canada : Government of Canada makes it easier for families to qualify for the Canada Learning Bond.

When more people can afford post-secondary education, our economy can grow and our middle class can thrive. That is why the Government of Canada is helping more low- and middle-income families save money for their childrens post-secondary education through the Canada Learning Bond.

The Canada Learning Bond provides up to $2,000 in a Registered Education Savings Plan for children from low?income families, with no personal contribution required. This includes $500 for the first year of eligibility and $100 each following year, until the calendar year they turn 15.

Today, the Honourable Karina Gould, Minister of Democratic Institutions, on behalf of the Honourable Patty Hajdu, Minister of Employment, Workforce Development and Labour, highlighted how the Government of Canada is helping more families save for their childrens education. To help more children from low-income families benefit from the Canada Learning Bond, Budget 2017 reallocated $12.5 million over six years, starting in 201718, from Employment and Social Development Canadas existing resources to launch a pilot project. The pilot project will explore new ways to increase awareness and access to the Canada Learning Bond.

Budget 2017 approved amendments to the Canada Education Savings Act to allow the cohabiting spouse or common-law partner of the primary caregiver to request the Canada Learning Bond and the Additional Canada Education Savings Grant on behalf of an eligible child. This change will simplify the application process, ensuring that more children who are eligible for these benefits receive the support they need to help pursue post-secondary education.

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Publication:Mena Report
Geographic Code:1CANA
Date:Feb 21, 2018
Words:264
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