Increasing Take-Up of the Canada Learning Bond
Author: Elizabeth Hardy, Haris Khan, Mathieu Audet, Monica Soliman
Topic: Asset building and saving, Financial behaviour/decisions
Publisher: Government of Canada
Location: Canada
Format: Report
Content Type: Research
Publication Date: July 15, 2019

The Canada Learning Bond (CLB) is an educational savings incentive that provides children from low income families born in 2004 or later with financial support for post-secondary education. Personal contributions are not required to receive the CLB, however take-up remains low among the eligible population.

The Impact and Innovation Unit (IIU), in collaboration with the Learning Branch and the Innovation Lab at Employment and Social Development Canada (ESDC) conducted a randomized controlled trial to test the effectiveness of behavioural insights (BI) in correspondence sent to primary caregivers of children eligible for the CLB.

This trial demonstrates the effectiveness of BI interventions tailored to the particular behavioural barriers that affect specific populations in increasing take-up of programs like the CLB. If scaled across the eligible population, the best performing letter would result in thousands more children receiving this education savings incentive on an annual basis.

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