You may be eligible to get up to $2,000 for each child in your family. The Canada Learning Bond (CLB) can provide you with money to help save for your child’s education.


Did you know? Children with education savings of up to $500 are three times more likely to enroll in post-secondary and four times more likely to graduate.

The Canada Learning Bond is money that is provided by the Government of Canada. This money helps families with the costs of a child’s full-or part-time studies after high school (post-secondary and training programs).

This money is directly deposited into a Registered Education Savings Plan (RESP) for children from families with low-to-moderate income. Learn more about the Canada Learning Bond by visiting the Government of Canada’s webpage.

The City of Toronto has partnered with SmartSAVER, a non-profit organization, to make it easy for eligible families in Toronto to receive the Canada Learning Bond. SmartSAVER connects families directly to no-cost RESPs. No-cost RESPs have no enrollment fee, no annual fee and no mandatory contributions required.

Go to the CLB Toronto MySmartFUTURE website where you will find information on:

  • Who is eligible for the Canada Learning Bond
  • How to open an RESP
  • How to receive the Canada Learning Bond funds
  • How your child’s education savings could add up year by year

MySmartFuture Website 

To access the Canada Learning Bond, you will need to open an RESP for your child.

An RESP is an education savings account that helps you, your family or your friends save for your child’s education after high school. If you have an RESP, ask your provider about the CLB.

Many people make contributions to their child’s RESP to help grow their savings but it is not required. You can still receive the Canada Learning Bond without making any contributions to your child’s RESP. All you need to do is open an RESP to receive the Canada Learning Bond.

The money deposited into an RESP is tax-free. The money can be used to help pay for the cost of tuition, books and travel expenses for your child’s education after high school.

How to Open a No-cost RESP

You can open a no-cost RESP on the MySmartFUTURE website to access the CLB.

The Canada Learning Bond (CLB)Toronto MySmartFUTURE website can connect you to Halal RESPs. Depending on the financial institution you open your RESP with, you may be able to open an RESP that adheres to Islamic principles of investing.

The Canada Education Savings Grant (CESG) can provide you with even more money for your child’s education. The CESG is available to all families that open an RESP and who make any personal contributions to their child’s RESP. No contribution amount is too little. The Government of Canada matches 20 per cent of your annual contribution, up to a lifetime maximum of $7,200 per child. Like the Canada Learning Bond money, the CESG money is deposited directly into your child’s RESP.

If your child or beneficiary decides to attend post-secondary education, they can access the CLB and any other funds in their RESP.

If your child or beneficiary decides not to attend post-secondary education, any government contributions will go back to the Government of Canada and any personal contributions go back to you.

The Canada Learning Bond is a benefit provided by the Government of Canada. If you want to learn more about other benefits, you can use the City of Toronto’s Service and Benefit Finder Tool or visit the Financial & Employment Support page.