BC Training and Education Savings Grant

images$1,200 BC Training and Education Savings Grant

BC Budget 2016 expanded the $1,200 grant to include children born on or after January 1, 2006, as well the list of financial institutions offering the grant is now rapidly growing.  If your institution is not on the list you can always open a separate account with an institution that is on the list just to get your free $1,200.  You’d better hurry though, there is a deadline to apply, and the program could be scrapped after the next BC election in 2017.  For more information please visit:  http://www2.gov.bc.ca/gov/content/education-training/k-12/support/bc-training-and-education-savings-grant

BC Training and Education Savings Grant

Time to collect your free $1,200!

Well it’s been over two years since the BC government introduced the BC Training and Education Savings Grant, but the time has finally come where you should be able to apply for your $1,200 free grant to your child’s RESP. At least this is according the BC government’s website  (bc training and education savings grant)

However, upon contacting a financial institution they were still “developing” the application form, so I trust other institutions are in the same boat. I hope they... don’t take too long as there are two deadlines to worry about: 1) you only have three years to apply for the grant after your child turns 6 – once your child turns 9 presumably you’ve missed the boat; 2) certain BC political parties have vowed to scrap the Grant, so the entire program may disappear with the next BC election in 2017. So don’t delay in approaching your bank on this! We’d be interested in hearing which financial institutions already have the application form developed, so if your bank is taking applications we’d love for you to comment which institution.