Ministry of Education
VANCOUVER – Post-secondary education and training will be more accessible and affordable thanks to a new $1,200 grant from the provincial government.
As of Aug. 31, parents and families can go into almost any credit union in British Columbia to kick-start their education savings through the $1,200 B.C. Training and Education Savings Grant. All they need to do for any eligible child is sign up for a Registered Education Savings Plan at a participating branch.
There is no barrier to low-income families since no matching or additional contributions are required to access the $1,200. The Province is also working to ensure that low-income families and children in care are able to tap into the grant.
Families can go to one of more than 350 credit union branches to apply for an RESP and access 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 the child's ninth birthday, to submit an application for the grant.
The Province is working with other financial institutions so over the coming months they will be able to offer the grant.