Canada Learning Bond can put up to $2000 into an RESP - announced yesterday at The Centre.

News 100 redBy Staff

February 21st, 2018

BURLINGTON, ON

 

Gould - very pregnant

Burlington MP Karina Gould – baby due early in March

Burlington’s Member of Parliament and federal Cabinet Minister Karina Gould stood in for the Minister of Minister of Employment, Workforce Development and Labour Patti Hadju yesterday and announced the Canada Learning Bond program that funnels funds into Registered Education Savings Plans (RESP)

The total amount the Government deposits can be up to $2,000. Applying for and receiving the Canada Learning Bond will not affect any other benefits that an eligible child receives.

Through the Canada Learning Bond, the Government will add money to the RESP for an eligible child every year, even if you do not add any money.

An RESP is an education savings account set up with a financial institution like a bank or a credit union, or group plan dealer. The money in the RESP will grow tax free until it can be used for expenses related to their studies in:

Centre - skills directoryApprenticeship programs
Colleges
Trade schools; or
Universities

The announcement was made at The Centre for Skills Development and Training.

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