There is a $1,200 jackpot available for every child in B.C. who was born since 2007.
The B.C. Training and Education Savings Grant came into effect on Sept. 1 and families can use it to get a head-start on their children’s education fund.
Parents anywhere in the Cariboo-Chilcotin can go to any branch of Williams Lake and District Credit Union in Williams Lake or 100 Mile House to kick-start their savings for their kids’ future.
This one-time grant from the provincial government will help make your children’s post-secondary education and training more affordable.
Receiving the grant is as easy as opening a Registered Education Savings Plan at Williams Lake and District Credit Union or any other participating credit union in B.C. Our government is working with other financial institutions so they will be able to offer the grant in the coming months.
The beauty of the program is that no additional contributions are needed to access the $1,200. But if you were able to invest $50 a month in the RESP, your child’s savings could grow to $12,000, based on a 3.5 per cent annual growth rate.
We are also working to ensure that low-income families and children in care are able to tap into the grant.
To be eligible for the $1,200, children must have been born in 2007 or later. Families have three years, or until the day before your child’s ninth birthday, to submit an application for the grant.
For more information go to www.gov.bc.ca/BCTESG or call 1-888-276-3624.
The vast majority of tomorrow’s jobs will require some form of post-secondary education, so this grant is an ideal way to put your children on the road to success.
Saving for your children’s education is one of the most important investments a parent can make, and I urge all families to apply for an RESP to access this grant.
Donna Barnett is the Liberal MLA for the Cariboo-Chilcotin.