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Kick-start Your Child's Education Savings

Wednesday, November 16, 2016
Categories: Great Things, Teaching and Learning

November is Financial Literacy Month in Canada and an excellent opportunity to focus on the importance of education savings. Research shows that even a small amount of education savings can improve student achievement, well-being, equity of opportunity and outcomes. That’s why the TDSB has partnered with SmartSAVER on a board-wide campaign that helps families access free money to kick start their children’s education savings.

What free money? It’s the Canada Learning Bond, available now through www.tdsb.on.ca/SmartSAVER. This is a Government of Canada contribution to a child’s Registered Education Savings Plan. It provides up to $2,000 in savings for the post-secondary education of eligible children.

Who can get it? You are eligible if your child was born in 2004 or later and you have ever been eligible for the National Child Benefit Supplement as part of the Canada Child Tax Benefit, known as the “family allowance”. All eligible children receive at least $500 and will receive $100 more for each year they’re eligible up to age 15 or a maximum of $2,000.

How do I get the Canada Learning Bond?
• SmartSAVER can help you apply for the Canada Learning Bond and start an RESP with $0 when you use the Start My RESP online tool at www.tdsb.on.ca/SmartSAVER
• You’ll need a Social Insurance Number for yourself and your child to complete the application
• There is no cost and you don’t need to contribute any money to get the Canada Learning Bond

Don’t wait! Get started at www.tdsb.on.ca/SmartSAVER

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