The BC government has issued a reminder for parents to sign up for a grant that could be used to fund their child’s post-secondary education.
This $1,200 BC Training and Education Savings Grant (BCTESG) is made available for parents and families who have a young child but cannot afford to put aside savings at this time.
If approved, the grant is deposited into the child’s Registered Education Savings Plan (RESP).
It’s only available for a three-year window, when children are aged between 6 to 9 years. According to the province, around 40% of families leave this grant unclaimed.
The application process is a straightforward one – all you have to do is stop at your local bank or financial institution and fill out an application for an RESP and the BCTESG grant, if you’re eligible.
To make it even simpler, here are the eligibility deadlines:
- For children born in 2006 – Aug. 14, 2019
- For children born in 2010 – the day before the child’s ninth birthday in 2019
- For children born in 2011 – the day before the child’s ninth birthday in 2020
- For children born in 2012 – the day before the child’s ninth birthday in 2021
- For children born in 2013 – the day before the child’s ninth birthday in 2022
An extension was provided for children born between 2006 and 2008 since the program was launched when that group of children turned six to nine years old.