hi finance and Embark partner to help students claim the Canada Learning Bond. hi finance, the student finance app, has partnered with Embark, Canada's education savings and planning company, to help eligible students claim the Canada Learning Bond, a federal grant worth up to $2,000. FOR IMMEDIATE RELEASE TORONTO, Aug. 19, 2026 - hi finance, the student finance app, today announced a partnership with Embark, Canada's education savings and planning company, to help students claim the Canada Learning Bond (CLB), an income-based federal grant worth up to $2,000 for eligible students that many students never receive because it requires opening a Registered Education Savings Plan (RESP). Through the partnership, the hi finance app helps students find out if they might be eligible for the CLB, and if they are, connects them with Embark to open an RESP in their own name. The process is designed for students opening an account in their own name, removing the paperwork and confusion that has historically kept many eligible students from claiming the money. The CLB is an income-based federal grant for students from modest-income families. It is deposited directly into an RESP and does not require any personal contribution, it is a grant, not a match. Eligible students can receive up to $2,000 total, including $500 for the first year they qualify and $100 for each additional year, up to age 15. "Too many students are leaving free money on the table because claiming the CLB means opening an RESP, and the process was never built for them," said Mike Lyons, CTO and Co-Founder of hi finance. "By partnering with Embark, we've built a process that's actually designed for students, the app helps them find out if they might be eligible for the CLB, and if they are, connects them with Embark to open their RESP." "Claiming a federal education grant shouldn't require decoding a government program," said Andrew Lo, president and CEO, Embark. "The Canada Learning Bond is one of the most powerful tools available to Canadian students, no contribution required, just an RESP. Together with hi finance, we're removing the friction that has kept it out of reach for many. We're making it something you can check your eligibility for in seconds and act on in minutes." The Canada Learning Bond is one of the most underclaimed grants in Canada. Eligibility is based on adjusted family net income, with a threshold of approximately $57,375 for families with up to three children in the 2025-2026 benefit year. Students born in 2004 or later can apply until the day before their 21st birthday, and the grant is retroactive, so those who qualified in earlier years can claim that money now. Not all students will qualify, and eligibility is determined by the Government of Canada. For a plain-language walkthrough of who qualifies and how to claim the CLB yourself, read how to get the adult CLB. The partnership is part of hi finance's broader mission to help students unlock funding, reduce financial stress, and build financial confidence. Once a student's funding is set up, hi finance helps them budget, save, and manage their money through the rest of their time in school and beyond. About hi finance. hi finance is the student finance app that helps students find and claim grants, scholarships, and bursaries, and build financial confidence from day one. Through the app, students can discover funding they didn't know existed. hi finance is backed by UCeed Investment Funds and is built on the belief that students should be able to bank on themselves, not the banks. About Embark. Embark is Canada's education savings and planning company. Managing RESPs for more than 600,000 students, Embark helps approximately 60,000 Canadians attend post-secondary school each year and has paid out approximately $8.1 billion to students as part of their education savings since its inception. Registered as a Scholarship Plan Dealer across Canada, Embark is committed to empowering families along their post-secondary journeys. Media contact. Mike Lyons CTO and Co-Founder, hi finance [email protected] This guide is general information for Canadian students, not personalized financial advice. Program rules and dollar amounts change, so confirm the details with the official government source before acting on them. CTO / Co-Founder, hi finance. Serial button presser, serious 3d printing fanatic, unreasonably good at software engineering. Related guides Hi Finance App Your finances, finally under control. * Built-in budgeting & bank connection * Grants, bursaries & scholarships * Personalized advice, any time * Built for Canadian students Stay in the loop. Join thousands of students who are already getting smarter about their money.

Are millennial parents savers? New data reveals they are. Families aren't waiting, they're taking action early. The Early Parent Readiness Report from Embark, in partnership with Angus Reid, surveyed expecting and new parents across Canada, revealing that a lack of confidence in affordability is driving more young families to prioritize financial planning and education savings (RESPs). -(BUSINESS WIRE)-As living costs continue to rise, young families across Canada are feeling the financial pressure even before their child arrives. According to a new survey by Embark, Canada's education savings company, in partnership with Angus Reid, people having children today (90% millennial respondents) are actively planning for the financial realities of parenthood, but many aren't fully confident they can keep up. Despite these pressures, the data reveal that millennial parents are not disengaged from financial planning; they're actually making deliberate trade-offs and are prioritizing long-term goals like education savings (RESPs), even as day-to-day costs continue to climb. "What we're seeing is that families aren't waiting. They're taking action early, and RESPs are becoming one of the most common ways they're doing it," said Andrew Lo, CEO at Embark. "Embark helps parents simplify education savings, maximize government incentives, and build a plan they can feel confident in, giving them one less thing to worry about as they navigate the early stages of parenthood." Young families are shifting their financial priorities. The day-to-day cost of raising a child is already adding up, and with continued uncertainty around how costs may evolve, parents are becoming more intentional about how they allocate their money across immediate needs and future goals. More than half (54%) of expecting parents say they are only somewhat financially prepared to have a child, with those in Ontario ranking the least prepared (67%). * More than 1 in 3 (36%) of new parents say they've received financial help from family, with 21% receiving one-time assistance, and 16% receiving ongoing support. Those in B.C. are the least likely to receive help from family (69%) * Most new parents (37%) report spending between $500-$999 per month on their child, with another 26% spending under $500 * When given a hypothetical $2,500, parents prioritize financial stability over immediate needs like housing: * 22% would save it * 20% would pay down debt * Just 13% would spend on baby essentials, and 11% on housing Even in the early stages of parenthood, financial pressures are shaping behavior, with parents making deliberate, forward-looking decisions to manage both immediate costs and long-term stability. What are new and expecting parents most concerned about? For today's expecting parents, financial pressures and sleep deprivation are top of mind, even outweighing concerns like health and safety. * Sleep loss and exhaustion (26%) rank as the top concern among new and expecting parents, with men most stressed about sleep exhaustion (29%) * Financial responsibility (21%) follows closely behind, with women most stressed (27%) * Meanwhile, health and safety (13%) and work-life balance (11%) rank notably lower Among new parents, these concerns quickly become reality. The top challenges cited are loss of personal time (25%), balancing work and parenting (25%), and sleep deprivation (23%). Despite this, financial priorities remain dominant. When asked to choose between receiving $5,000 or a week of uninterrupted sleep, 84% of new parents chose the money, underscoring how central financial considerations are, even when faced with extreme exhaustion. How are millennial parents preparing for children differently? Think millennials are focused on avocado toast and pricey coffees? Think again. Embark found that millennial parents are actually approaching parenthood with a strong financial lens, actively planning for both immediate costs and long-term goals, but a clear gap remains between preparation and confidence. When looking at savings so far, 36% of parents have already saved $5,000 or more for their child, but nearly a third (32%) have not started saving at all, with men (44%) and expecting parents (37%) leading the way in savings. Education savings are A top priority for expecting and new parents. Even as affordability remains a challenge, education savings are emerging as a clear priority for Canadian families. Nearly three-quarters (73%) have opened an RESP (i.e., Embark), with only 5% of respondents not saving at all. This is likely driven in part by awareness of available incentives, with 74% of parents familiar with government matching programs, making it easier for parents to get started and build savings over time. At the same time, a confidence gap remains: * Only 33% say they are confident they can fully pay for their child's post-secondary education * 27% say they won't be able to, while 26% expect it will be financially tight * Parents in Atlantic Canada are the least confident, with 48% saying they won't be able to afford it To learn more about how Embark helps families plan and save for their child's future, visit embark.ca. About embark. Embark student corp. is Canada's education savings and planning company. with over $6 billion in assets under management, the company is committed to empowering families along their post-secondary journeys by giving them the resources and tools they need to better plan and save for all that comes with an education. As a wholly owned subsidiary of embark student foundation, a not-for-profit Canadian corporation, the company, registered as a scholarship plan dealer across Canada, manages almost 600,000 RESPs for canadians nationwide and helped approximately 53,600 students through post-secondary studies last year. Survey methodology.

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