In the provincial budget this year, the government introduced the British Columbia Training Education and Savings Grant.
This grant will provide children with a $1,200 grant for their Registered Education Savings Plan (RESP). It will be deposited to each child’s RESP account when the child turns six years old.
In order to qualify, the child must be a resident of British Columbia, and must have been born after January 1, 2007.
It is important to ensure that your child has an RESP plan set up prior to February 28, 2014, to ensure that he or she can qualify for this grant.