Don’t let your child miss out on a $1,200 grant

BC Government News
Photo Credit: https://news.gov.bc.ca/
Parents and guardians of eligible children are reminded that deadlines are fast approaching to sign up for the $1,200 B.C. Training and Education Savings Grant (BCTESG).

Parents and guardians of eligible children are reminded that deadlines are fast approaching to sign up for the $1,200 B.C. Training and Education Savings Grant (BCTESG).

Almost 80% of job openings in B.C. over the next decade will require some form of post-secondary education. The grant may be used toward full-time and part-time studies in a wide range of programs, including vocational schools, apprenticeships, trades training, college or university.

There are no additional fees or financial contributions needed to receive the $1,200 grant, so parents and families who cannot afford to put aside savings at this time can still start a Registered Education Savings Plan (RESP).

Signing up is as easy as stopping in at a local bank or financial institution to complete a simple application for an RESP. If approved, the $1,200 grant will be deposited directly into the RESP. Once deposited, the investment grows tax free.

Do not be one of the 40% of families who leave this grant unclaimed. The BCTESG is only available over a three-year window. For children born after 2010, those aged six to nine are eligible. Eligibility deadlines:

  • For children born in 2006 – Aug. 14, 2019
  • For children born in 2010 – the day before the child’s ninth birthday in 2019
  • For children born in 2011 – the day before the child’s ninth birthday in 2020
  • For children born in 2012 – the day before the child’s ninth birthday in 2021
  • For children born in 2013 – the day before the child’s ninth birthday in 2022

Parents and guardians are asked to visit their financial institution and ask if they offer the grant.

Learn More:

For further information about the BCTESG, visit: https://www2.gov.bc.ca/BCTESG/

For further information about additional Government of Canada RESP incentive programs, visit: https://www.canada.ca/en/employment-social-development/services/student-financial-aid/education-savings.html