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BC Government affirms Grant for RESPAug 13,2013 |
http://www.GovernmentGrantsCanada.ca | Vancover-BCA new grant from the BC government will give $1,200 to children under seven if they have an RESP (registered education savings plan).
All children born after January 1, 2007 who are BC residents are eligible. Parents must make an RESP for their children before their seventh birthday. When children turn six, the family must apply for the grant through their RESP provider. If the child is already six, the application will be done at the same time the RESP is opened.
The province is working with Human Resources and Skills Development Canada to implement the program, and the process is expected to take between 18 to 24 months. Once the program is in place, parents whose child is already six will receive a notice to apply for the grant.
If the child ends up not pursuing post-secondary education after they graduate, the grant is returned to the government.
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