Daily Living
Saving for Your Child's Education: RESPs and the Canada Learning Bond
The Canada Learning Bond puts up to $2,000 into your child's education savings with zero contribution required from you. Here is exactly how RESPs, the CESG, and the CLB stack together in 2026.
1. What an RESP Actually Is
A Registered Education Savings Plan (RESP) is a tax-sheltered account for a child's future post-secondary education. You can contribute up to a $50,000 lifetime limit per child, the account can stay open for up to 31 years of contributions and 35 years total, and any investment growth inside it isn't taxed until withdrawn (and is then generally taxed in the student's hands, at a typically low rate).
2. The Canada Education Savings Grant (CESG): Free Money for Everyone
Regardless of family income, the federal government matches 20% of your annual RESP contribution, up to $500/year (or $1,000 if you have unused grant room from a prior year), to a lifetime maximum of $7,200 per child.
3. The Additional CESG for Lower and Middle Incomes
On top of the basic grant, an extra amount applies to the first $500 contributed each year, based on 2026 adjusted family net income brackets:
| 2026 Adjusted Family Net Income | Additional CESG Rate | Max Additional Amount |
|---|---|---|
| Up to $58,523 | 20% | $100/year |
| $58,523 to $117,045 | 10% | $50/year |
| Above $117,045 | Not eligible | $0 |
4. The Canada Learning Bond: No Contribution Required
This is the piece newcomer and lower-income families most often miss. The Canada Learning Bond (CLB) pays directly into an RESP for eligible children from lower-income families, with no personal contribution required at all:
- $500 the first year of eligibility
- $100 for each additional year of eligibility, up to age 15
- Maximum total of $2,000 per child
- An extra $25 to help cover the cost of opening the RESP
For the 2025-26 benefit year, the income threshold for a family with one to three children is $57,375. Simply opening an RESP and confirming eligibility is enough; you don't need to put your own money in first to receive the CLB.
5. Practical Order of Operations
- Open an RESP at a bank, credit union, or through a registered plan provider
- Check CLB eligibility first, since it requires zero contribution
- Contribute what you can toward the $2,500/year threshold to capture the full basic CESG
- Revisit contributions yearly since unused CESG room carries forward, but only up to certain age limits for the child