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Enrolled By Six StrategyPeel Post Secondary Strategy

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In Peel, all children and youth will

thrive.

At the Peel Children and Youth

Initiative (PCYI)

our mission is to

provide every child, youth and young

adult (0-24 years) with the opportunity tolive in a safe and healthy environment,

realize their potential and achieve

success, and contribute to their

communit in meanin ful wa s.

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Enrolled By Six: Peel Post

Secondary Strategy is a community

impact strategy to enroll every eligible

child in Peel Region in the Canada

Learning Bond Registered Education

Savings Plan for post secondary

tuition before the age of six.

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Parents want to save for their childrens education

I dont want my children to take

loans. In my culture its a parents dutyto have the savings to help them.

I had to interrupt my education after

two years and go to work. I saved andborrowed to be able to go back to

school. Now I have four children and I

dont want them to have that problem.

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The Canada Learning Bond (CLB) is a Registered EducationSavings Plan (RESP) for post-secondary education.

Eligibility:

child born on or afterJanuary 1, 2004

family who receives the National Child BenefitSupplement and/or earns less than $42,707

a year (net).

Canada Learning Bond (CLB)

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How much money could my child get from

the bond?

Each of these children is entitled to:

$ 500 when they register

$100 a year until the age of 15,up to a max. of $2,000 (plus interest)

An extra $25 will be paid to helpcover the cost of opening an RESP.

Canada Learning Bond (CLB)

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How do I apply for the bond?

It's a simple 2-step process.

Get a Social Insurance Number (SIN)for your child.

Open a Registered Education SavingsPlan (RESP) account with an RESPProvider.

Your RESP provider will apply for thebond on your behalf.

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What happens to the RESP if my child does

not continue education after high school?The RESP money can be used up to the age of 36 years.

If your child doesn't continue his or her education:

The Canada Learning Bond must be returned to the Government ofCanada.

Earnings on the CLB and the money you saved may be:

used by brothers or sisters, if they pursue an education after highschool

goes back to you (ask you RESP Provider for details)

Canada Learning Bond (CLB)

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Do I have to put in any money of my own to

receive the bond?

No family contribution required:A family can start an RESPwith $0

If you choose to contribute to your child's RESP account, yourchild will qualify for the Canada Education Savings Grant

Canada Education Savings Grant is extra money that theGovernment adds depends on your familys net income:

40% more: if your income is less than $42,707

30% more: If your income is between $42,707 - $85,414

20% more: If your income is more that $85,414

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What is a qualified educational program?

Qualified educational programs include

Apprenticeships and programs offered by a trade school

CEGEP (College of General and Vocational Education)

College or University.

Can RESP funds be used for students going to

school part-time?Yes. RESP funds can be used for eitherfull-time orpart-time study in

12 hours per month spent on courses.

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Where can I find out more about the CanadaLearning Bond?

www.pcyi.org

www.pcyi.org

Canada Learning Bond (CLB)

http://www.pcyi.org/http://www.pcyi.org/