BC Training and Education Savings Grant {Important Info for BC Families}

BC Budget

To help families start planning and saving early for their children’s education after high school, the Government of British Columbia announced a NEW $1,200 BC Training and Education Savings Grant.

When a B.C. resident child turns six years old, the Province of British Columbia will put $1,200 into the child’s RESP.

Starting immediately, all B.C. children with an RESP and born on or after January 1, 2007 will be entitled to receive the BC Training and Education Savings Grant.

Here’s what you need to do:

  • Open an RESP account at your financial institution before the child turns seven years old (or by February 28, 2014 for children born in January or February 2007).
  • No matching or additional contributions are required!

By opening an RESP account, not only is the child entitled to $1,200 dollars from the Province of British Columbia, they can also access similar education savings grants from the Government of Canada.

Invested in an RESP, the $1,200 grant will grow over time, making it easier for B.C.’s children to pursue the careers of their choice.



For more information click HERE!

Disclosure: This is a sponsored post. All views and opinions stated on this post are 100% my own.

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Angela V

Founder and Writer at One Smiley Monkey blog
Hi, my name is Angela and I am a Canadian mom living in Vancouver with my wonderful husband and two happy little boys. I am the founder and primary contributor behind One Smiley Monkey. Welcome to my blog!
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17 responses to “BC Training and Education Savings Grant {Important Info for BC Families}”

  1. Brandy — March 7, 2013 @ 7:34 pm (#)

    Well this is wonderful for families with children born after 2007, rather depressing for families like mine who have two children born not that long before. Oh well such is life right?

    Reply

  2. Tania B — March 8, 2013 @ 6:43 am (#)

    Wow, that is great for BC families! Well done BC government!

    Reply

  3. Brandy — March 8, 2013 @ 6:52 am (#)

    Thanks Angela 🙂 We do get that grant, so that is a plus.

    Reply

  4. Kaitlin M — March 8, 2013 @ 2:25 pm (#)

    That’s a great idea.

    Reply

  5. TAra — March 9, 2013 @ 2:12 pm (#)

    This is great. Any benefit we can get for kids is awesome. My daughter is only four so this is great news!

    Reply

  6. tennille — March 10, 2013 @ 2:04 pm (#)

    so does it just go into their RESP automatically if they have them?

    Reply

    • Angela V — March 10th, 2013 @ 2:11 pm

      Once the child turns 6 years old then the government should put the money into their RESP automatically.

      Reply

      • tennille — March 13th, 2013 @ 2:38 pm

        they will probably discontinue it by the time my kids turn 6. LOL

    • canadianmutualfundinvestor — May 16th, 2013 @ 3:04 pm

      You will need to apply for the grant once your child turns 6.

      Reply

  7. Angela V — March 13, 2013 @ 2:42 pm (#)

    Tenille, I sure hope they don’t because I still have a long time before my little one turns 6 as well 🙂

    Reply

  8. Daniel — March 14, 2013 @ 5:06 pm (#)

    A little late for me though.

    Reply

  9. Candi — March 26, 2013 @ 1:45 pm (#)

    How or why did you come up with 2007? my son was born in August of 2006 so I guess we do not qualify? or is there another option for children born before the 2007 deadline?

    Reply

    • Angela V — March 26th, 2013 @ 9:46 pm

      Hi Candi, this is what the government came up with, I am not sure why they did but you can try contacting them directly to ask them. Thanks!

      Reply

    • canadianmutualfundinvestor — May 16th, 2013 @ 3:06 pm

      This replaces another program that started Jan 01 2007. Taking that money and re allocating it…

      Reply

  10. canadianmutualfundinvestor — May 16, 2013 @ 3:02 pm (#)

    Now that the Liberal government has been re elected, this grant program will most likely go ahead. The administration processed to implement the grant will not be available until Late 2014 or in 2015. In other words we are going to have to wait a little longer.
    Keep in mind that this program is replacing a program that was in place as of January 1 2007 that gave each child born in BC $1,000 towards their education. (That is where they got the date from) This is no new money to BC residents, it is just re packaged and is more difficult to get (paperwork)

    Reply

  11. BC Training Grant — January 30, 2017 @ 10:19 am (#)

    RESP is no doubt a great way to save for the education of your children, you can also add government grants if your income is below a certain amount.

    Reply

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