WILLIAMS LAKE – 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 Williams Lake and 100 Mile House can go into any branch of Williams Lake and District 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.
“This grant will help families get a head-start on saving for their children’s education,” Cariboo-Chilcotin MLA Donna Barnett said. “Education and training after high school graduation can help unlock success. I encourage families to apply for an RESP to access the grant.”
“We want to ensure our students are equipped with the skills they need to get future jobs,” Cariboo North MLA Coralee Oakes said. “Since almost 80 per cent of future job openings will require some form of post-secondary education, this is a practical investment for our families and our province’s economic future.”
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.