DEFINITION of 'Canada Learning Bond'

This bond is intended to help low-income families pay for higher education expenses. The Canada Learning Bond is funded by the Canadian government as part of a program to help less privileged families send their children to college. This bond has a maximum benefit of $2,000 per child.

BREAKING DOWN 'Canada Learning Bond'

The Canada Learning Bond was instituted in 2004 by the Canadian Minister of Finance. Unfortunately, only a small percentage of eligible Canadian families took advantage of this program. As a result, the government has made efforts to increase publicity for the bond. This program depends largely on the National Child Benefit Program to determine eligibility for aid.

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