It’s back-to-school week, making this is a perfect time to think about saving for your child’s post-secondary education. While there are a few options available, the newest grant to be announced is the British Columbia Training and Education Savings Grant.
The grant is a one-time provincial incentive of $1,200 available to children when they turn six years old. Parents with children born between January 1, 2007 to August 15, 2009 need to apply for the grant before August 14, 2018. Parents with children born after August 15, 2009 must apply between their child’s sixth and ninth birthdays.
You don’t need to contribute to a RESP to receive this grant, but you do need to open an RESP before your child turns nine. Contributing to a RESP will enable you to receive other grants as well – there are lots of different options for investments.
Although figuring out what grants and investments are available can seem overwhelming, there are some great tools to help.
- Talk to us so we can help ensure you receive the grants you may be eligible for.
- CanLearn is a government of Canada website with interactive information and tools designed to help you save, plan and pay for post-secondary education.
Ask us about RESPs and the available government grants – saving for your child’s education is one of the most important investments you will make. ~Tara
