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New $1,200 post-secondary grant offered by B.C. government

DH Vancouver Staff Aug 31, 2015 11:34 am

The B.C. government said they are partnering up with credit unions across the province to bring a new $1,200 grant to help launch post-secondary education savings for parents and families.

The B.C. Training and Education Savings Grant will allow families with children born in 2007 or later to get a kick-start to their education funds. The child must be below the age of nine to qualify and the family must sign the child up for a Registered Education Savings Plan.

Lower-income families will also be able to access the grant.

“The vast majority of tomorrow’s jobs require some form of post-secondary education and training. I’m encouraging families to start planning and savings for their children’s post-secondary education,” said Education Minister Mike Bernier in a statement.

The province said that 78 per cent of jobs in the next decade will require some form of post-secondary education or training, and with the help of the grant and a monthly deposit of $50 per month, parents could have up to $12,000 saved for the child depending on investment returns.

Around 350 credit unions are available to access the grant. The following institutions are participating:

  • Aldergrove
  • BlueShore Financial
  • Bulkley Valley
  • Coast Capital Savings
  • Coastal Community
  • Columbia Valley
  • Community Savings
  • Compensation Employees
  • East Kootenay
  • First Credit Union
  •  First West Credit Union
  • Greater Vancouver Community
  • Grand Forks District
  • Gulf and Fraser Financial Group
  • Integris
  • Interior Savings
  • Island Savings
  • Khalsa
  • Kootenay Savings
  • Ladysmith & District
  • Lake View
  • Nelson and District
  • North Peace
  • Northern Savings
  • Osoyoos
  • Prospera
  • Revelstoke
  • Salmon Arm Savings
  • Sharons
  • Spruce
  • Summerland
  • Sunshine Coast
  • Union Bay
  • Vancity
  • VantageOne
  • V. P. Credit Union
  • Westminster
  • Williams Lake and District
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