Savings Grant

The Tyee recently published an article that refers to the BC Training and Education Savings Grant. We wanted to share this opportunity with you. Here is a link to the article:

A provincial savings grant isn’t reaching those who could benefit most. Which isn’t doing much for inequality.

Families have a three-year window between when a child is six and nine years old to apply for the B.C. Training and Education Savings Grant. All they have to do is open a registered education savings plan at a financial institution and the government will deposit $1,200, which can then grow tax free.

(If a family already has an RESP for their child, “parents should make sure the RESP provider offers the grant. If not, parents may open another RESP at a participating provider in order to receive the grant.”)

Unlike the matching funds the federal government provides to people who make RESP contributions, the provincial grant doesn’t require people to put in any of their own money.