QUESNEL – The world is changing and parents want to make sure their children are ready to succeed. Education and training after graduation can help unlock that success.
Parents in Quesnel can go into Integris Credit Union to kick-start their savings for their children’s future.
To be eligible for the $1,200 education grant, children must be 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.
No matching or additional contributions are required to access the $1,200. Even a small amount of savings in a RESP increases the likelihood that a child will continue their studies after high school.
“Our government wants to help parents kick-start their savings plan for their child’s education,” Cariboo North MLA Coralee Oakes said. “By helping students access post-secondary training, we are working to make sure our students are first in line for future jobs.”
In the next decade more than 78 per cent of job openings will require some form of post-secondary education and training.
With the $1,200 grant and an investment of $50 a month, savings could grow to $12,000 (based on a 3.5 per cent annual growth rate). Growth of funds will depend on the amount invested and actual returns.
One in three British Columbians are members of a credit union. Central 1 Credit Union is the host organization of the grant for its 42 member credit unions, consisting of 365 branches and more than 550 ATMs across B.C.
The one-time grant of $1,200 per eligible child will be deposited into a Registered Education Savings Plan (RESP) upon approval of the application.
For more information visit your financial institution or www.canlearn.ca
For more information on the B.C. Training and Education Savings Grant visit www.gov.bc.ca/BCTESG or call 1-888-276-3624.