Start saving for school now

Parents with children born 2007 or later may be eligible for a grant to start an RESP.

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 Merritt, Ashcroft, Lillooet and Clinton can go to their local branch of Interior Savings Credit Union or Integris 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.

“Most of tomorrow’s jobs will require some form of post-secondary education and training,” Fraser-Nicola MLA Jackie Tegart said. “I can’t think of an easier way to give your children a head start in achieving a satisfying and rewarding career.”

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 visit your financial institution or go to www.canlearn.ca