Grant to help fund education

The world is changing and parents want to make sure their children are ready to succeed.

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 Salmon Arm, Sorrento, Sicamous, Enderby and Armstrong can go to Salmon Arm Savings and Credit Union, Enderby and District Financial, VantageOne or Valley First Credit Union to kick-start their savings for their children’s future.

To be eligible for the $1,200, 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.

“Almost 80 per cent of tomorrow’s jobs will require some form of post-secondary education and training,” Shuswap MLA Greg Kyllo said. “There is no easier way for families in the Shuswap and North Okanagan to give their children a helping hand toward a career-building education.”

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.

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 on the B.C. Training and Education Savings Grant, go to www.gov.bc.ca/BCTESG or call 1-888-276-3624.

 

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