Grant and contribution program
(S) Canada Learning Bond payments to Registered Education Savings Plan (RESP) trustees on behalf of RESP beneficiaries to support access to post-secondary education for children from low-income families (Canada Education Savings Act)
Department of Employment and Social Development · Education, skills and employment
Headline figures
Fiscal year 2024–25
$196M
Up $19.7M from $176M in 2023–24.
$6.53per tax filer$4.75per person
Per tax filer uses 29,965,100 tax filers (2023, the latest count published); per person uses a population of 41,162,593 (2024). An allocation of cost, not a tax bill.
Largest recipients
The largest named recipients of payments reported under this program in 2024–25. Location is the recipient's address, which is not always where the money is spent. Recipient payments can differ slightly from the program total above because the Public Accounts report them separately.
| Recipient | Location | Paid | Per tax filer |
|---|---|---|---|
| Royal Bank of Canada | Toronto, Ontario | $38.9M | $1.30 |
| TD Bank Financial Group | Toronto, Ontario | $30.1M | $1.00 |
| Industrial Alliance Insurance and Financial Services Inc | Québec, Quebec | $17.7M | $0.59 |
| Canadian Imperial Bank of Commerce | Toronto, Ontario | $12.6M | $0.42 |
| Fédération des caisses Desjardins du Québec | Montréal, Quebec | $12.6M | $0.42 |
| Canadian Scholarship Trust Foundation | Toronto, Ontario | $11.9M | $0.40 |
| Scotiabank | Toronto, Ontario | $10.6M | $0.35 |
| BMO Financial Group | Toronto, Ontario | $8.8M | $0.29 |
| International Scholarship Foundation | Mississauga, Ontario | $8.7M | $0.29 |
| Fidelity Investments Canada ULC | Toronto, Ontario | $4.8M | $0.16 |
Source and basis
- Detailed information on Transfer Payments, as per the Public Accounts of Canada, retrieved 2026-11-03. Open Government Licence - Canada.
- Recipients: Detailed information on Transfer Payments, as per the Public Accounts of Canada.
- Net expenditures of this transfer payment program in the Public Accounts. It overlaps with program spending, so do not add the two.