I've been following along with Budget 2013 and specifically the BC Jobs Plan for the last six months. I wish the BC Training & Savings Education Grant was around when I was going through college. Coming from a single parent household, I paid my own way through my years in both college and university. Any kind of financial help would have been hugely welcomed. It was a struggle for me and I ended up paying off over $20,000 in student loans on top of that.
Although the BC Training & Savings Education Grant won't pay your child's way through university – it's something, as a parent, you should certainly take advantage of. The grant is an one-time $1,200 grant toward a B.C. resident child’s Registered Education Savings Plan after the child turns six years old. Payments are made from the Children’s Education Fund, established in 2007.
In addition, a new B.C. Early Childhood Tax Benefit will provide $146 million to approximately 180,000 families with children under six years old, effective April 1, 2015. Families with young children can receive up to $55 per child, per month. Most will receive the full amount, while those with family incomes between $100,000 and $150,000 a year will receive a partial benefit. About 90 per cent of B.C. families with young children are expected to be eligible.
If you haven't learned the facts and the opportunities you can take advantage of from Budget 2013, I strongly urge you to review this quick one-pager outlining some of the key initiatives from the Province of British Columbia.