November is Financial Literacy Month. Did you know there is free money available to you to start saving for your child’s education? All B.C. kids born in 2006 or later are eligible to receive $1,200 from the provincial B.C. Training & Education Savings Grant. To access the funds, you only need to set up an Registered Education Savings Plan (RESP) account to apply for and receive the money. You may also be eligible for a Canada Learning Bond if your child was born after 2004 and your family net income is less than $45,000. Without an RESP, kids miss out on the federal and provincial education savings incentives they are entitled to receive from the government. United Way British Columbia and Success By 6 BC are partnering with SmartSAVER, a not-for-profit organization, to make sure that families take advantage of the funds available to them. Yes, it’s FREE MONEY for families to get education savings started, even when they have no money of their own to contribute.
Are you missing out on free government money for your child’s future education?
B.C. families can open a no-fee, zero required contribution Registered Education Savings Plan (RESP) and receive free government money for their kids’ higher education. All you need to start is:
- The Social Insurance Number (SIN), name and date of birth of the child who this is for. (need a social insurance number? click here)
- The Parent/Guardian’s SIN and contact information
Click here to get started. United Way invests in early learning initiatives so that children have the best start in school and by extension, the best start in life. For school-age children, we invest in after-school programs so that children feel they belong, grow their confidence and become all they can be. With a registered education savings plan, you can help your child continue their journey whatever path they choose to follow.