B.C. proposing new education savings grant

The provincial government in British Columbia (B.C.) is proposing a new Training and Education Savings Grant, which aims to assist more families in saving for their children’s post-secondary education.

The grant would be available only to those who have a Registered Education Savings Plan (RESP) and is anticipated to be offered as a one-time grant of $1,200. No matching or additional contributions are required to receive this grant, and eligibility will be strictly for residents of B.C. under six years of age. All that is required is to open an RESP account and apply before the child turns seven years old.

The grant is expected to complete full implementation within 18 months.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.