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: