Starting immediately, all B.C. children with an RESP (and born on or after January 1, 2007) will be entitled to receive the BC Training and Education Savings Grant of $1200.
Saving for your child’s post-secondary education while funding a business venture can seem impossible at times. What if you could get a head start with an investment that would grow throughout your child’s school years?
BC Training and Education Savings Grant
To take advantage of the BC Training and Education Savings Grant, you must first open an RESP account. When your child turns six years old, he or she is eligible to receive the $1200 grant. As your child progresses through school, the invested money will grow, giving your child the financial start he or she needs to pursue a career.
In order to be eligible to receive the BC Training and Education Saving Grant, your child must be a BC resident and he or she must have been born on or after January 1, 2007. Additionally, you must open an RESP account for your child before his or her seventh birthday. After your child’s sixth birthday, you can apply for this grant through the financial institution providing the RESP. The window for application is between your child’s sixth and seventh birthday.
Watch the video below to learn more:
The BC Training and Education Savings Grant is part of the BC government’s Balanced Budget 2013 plan. The Balanced Budget 2013 initiatives focus on early childhood development and the future training and education of children in BC, within a balanced budget. Along with the BC Training and Education Savings Grant, other initiatives include the BC Early Childhood Tax Benefit and the BC Early Years Strategy.
This is a sponsored article. Entrepreneur Mom Now Vancouver received compensation in exchange for publishing this article.