March 10, 2022 Nanaimo, British Columbia Employment and Social Development Canada
In today's ever-changing labour market, post-secondary education has never been more important. Most jobs require some form of training, whether an apprenticeship, trade school, college, university, or CEGEP. That is why the Government of Canada is taking action to ensure young people have the financial supports they need to access higher learning opportunities so they can join the workforce.
Today, Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough, met with Dr. Deborah Saucier, President of Vancouver Island University (VIU), as well as some VIU students, to discuss the many ways in which the Government of Canada is supporting students in their post-secondary studies
As of January 1, 2022, eligible Individuals who were born in 2004 or later but who did not receive the CLB as children can apply for it themselves when they turn 18, until the day before they turn 21. Approximately two-thirds of children born in 2004 or later are eligible for at least $500 through the CLB, up to $2,000 per eligible child.
The CLB provides up to $2,000 in Registered Education Savings Plan (RESP), with no contribution required from the individual. Eligible Canadians can apply for the CLB with their financial service provider by opening an RESP and requesting the Bond. Those who already have an RESP are encouraged to check with their financial service provider to see if they may be eligible for the CLB.
The CLB is among a host of learning, job-creation, and skills development supports offered by the Government of Canada. Those supports are part of the Government of Canada's ongoing effort to make it easier for young Canadians to access post-secondary education and training options that will lead to good, well-paying jobs.
