Get FREE money for your child's education! Vibrant Communities can help

Get Free Money for Education!!

Our goal is to increase the sign up numbers of Newfoundland families for the Canada Learning Bond.   

 What is the Canada Learning Bond?

• This is a Government of Canada program that provides $500 to families with children born after December 31st, 2003 to open a Registered Education Saving Plan (RESP).
• Families must be in receipt of the National Child Benefit Supplement (have a net family income of $42,707 or less - this is the amount shown after taxes) and the child was born after December 31st, 2003 to be eligible.
• The Government of Canada will add $100 more every year your child is eligible, up to age 15. Your child could get up to $2000 to contribute to their future post secondary education.
• There is no cost to open a RESP.

Why? Statistics Canada reported that only 17% of eligible families in Newfoundland signed up in 2010!

Families may be faced with a number of barriers when applying for free money for education:

• No Social Insurance Number (SIN card);
• No Government Issued Birth Certificate; or
• No identification such as a Photo ID, MCP Card, Passport, credit card, school ID card, etc. *Some banks may prefer a government issued Photo ID*

Spreading the word:

By collaborating with local centres, local schools, family resource centres, provincial government initiatives and local banks, Vibrant Communities - St. John’s wishes to bring attention to this opportunity offered by the Government of Canada. Vibrant Communities - St. John’s, with the support of Community Foundationⁱ Newfoundland and Labrador, will assist the first 80 families with the cost ($20.00) of each birth certificate needed to sign up for the Canada Learning Bond.

To hear more about the Canada Learning Bond, or if you would like to share this information with your organization, school or group please call Bethany at 753-9860 or email bethanypretty@cscnl.ca.

Bethany Pretty
Project Associate
Vibrant Communities - St. John’s
An Initiative of Community Sector Council NL

(#1)      Is your child eligible?

• He or she was born after December 31^st, 2003; and
• You receive the National Child Benefit Supplement under the Canada Child Tax Benefit (also know as the family allowance) any or all years after December 2003.

(#2)      Determine what you need to apply:

• Your Social Insurance Number
• Your child’s Social Insurance Number
• 2 Pieces of identification such as Photo ID, MCP Card, Passport, credit card, school ID card, etc.*Some banks may prefer a government issued Photo ID*
• You may need your child’s Birth Certificate to apply for their SIN if needed

Vibrant Communities - St. John’s, with the support of Community Foundation Newfoundland and Labrador, will assist the first 80 families with the cost ($20.00) of each birth certificate needed to sign up for the Canada Learning Bond.

(#3)      Go to any financial institution and ask to speak with a financial advisor

• Ask to open a Registered Education Savings Plan otherwise known as a RESP
• You do not need to contribute any money to open this savings account, the Government of Canada will deposit $500 to get you started.
• If you feel comfortable, ask about ways family members or yourself can contribute to the RESP over time.

OR HAVE ANY QUESTIONS OR NEED ASSISTANCE:

• Getting a SIN Card
• Getting a Photo ID
• Getting a Birth Certificate
• Going to a bank or credit union

PLEASE CALL BETHANY @ COMMUNITY SECTOR COUNCIL NL

(709) 753 9860