After the first year, how much is the CLB grant paid in each subsequent year up to 15 years?

After the first year, how much is the CLB grant paid in each subsequent year up to 15 years?

• A. $50
• B. $100
• C. $150
• D. $200

Answer: (B)

The CLB is designed to boost a child’s RESP with a fixed annual grant after the initial amount. When an eligible child’s RESP is opened, a one-time $500 grant is provided, and then $100 is paid for each subsequent year the plan is active, up to 15 years. So after the first year, the grant is $100 each year in the remaining years. This is why the correct choice is $100. The other amounts don’t align with the program’s structure, which specifies a flat $100 per year after the initial $500.

The CLB is designed to boost a child’s RESP with a fixed annual grant after the initial amount. When an eligible child’s RESP is opened, a one-time $500 grant is provided, and then $100 is paid for each subsequent year the plan is active, up to 15 years. So after the first year, the grant is $100 each year in the remaining years. This is why the correct choice is $100. The other amounts don’t align with the program’s structure, which specifies a flat $100 per year after the initial $500.