Delta MP and Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough, earlier this week, announced up to $6.7 million in funding for Phase II of the Canada Learning Bond Pilot Project.
Through this investment, the Government of Canada will fund projects to help increase awareness of the Bond and reduce barriers to access so that children who need it most can benefit from this education savings incentive.
“We all want what is best for our children, but some Canadians face challenges, and saving money may not be as easy as it once was,” said Qualtrough in a news release. “That is why the Canada Learning Bond is such a valuable tool in helping prepare a child for success. And yet, our most vulnerable communities are the ones that face the greatest barriers to accessing this beneficial support. With the funding I am announcing today, we can help reach and support more Canadian families so they can build a better tomorrow.”
According to a news release, this second phase builds on the success of Phase I, which provided funding to 12 community-based projects across Canada. Phase I projects are testing innovative approaches to reach vulnerable Canadians where they live and in ways that support their needs. Workshops, one-on-one sessions, animated videos and other creative methods have been used to raise awareness and support enrolment in the Bond in communities across Canada.
For Phase II, eligible organizations may receive up to $1 million in funding over two years for projects that test ways to help people access Registered Education Savings Plans and the Canada Learning Bond.
Projects will focus on children from families with low incomes, children of single parents, children in care, children and families living in rural or remote regions of Canada, and youth transitioning to post-secondary education. They will also need to take into account barriers related to the COVID-19 pandemic.
Charities and not-for-profit organizations, organizations from the education, social services and employment services sectors, municipalities and Indigenous organizations are encouraged to review the applicant guide and apply by March 17.
