Valley First

B.C. education savings grants expanded to include 40,000 more eligible children

February 25, 2016

Penticton, B.C.— Yesterday, the provincial government expanded the B.C. Training and Education Savings Grant (BCTESG) to include children born in 2006 and in the process extend the $1,200 education incentive to 40,000 more eligible British Columbian kids.

Previously, the grant was only available for children born in 2007 or later. Families saving for their eligible children’s post-secondary education now have access to an additional $1,200.

“It can be hard for parents to start saving for their children’s education, but it’s so critical to begin saving as early as possible—and make it routine,” says Marek Buryska a branch manager with Valley First, a division of First West Credit Union. “This grant is a great way for parents to jumpstart that savings behaviour.”

While the BCTESG is a one-time grant of $1,200, there is a limited window for application.

“Parents have three years to apply from the day their child turns six,” says Buryska. “The child also needs to be a beneficiary of a registered education savings plan to be eligible. A financial expert can help make sense of RESP options available and get it set up quickly.”

As the BCETSG was introduced last year, Buryska recommends parents get more information about the application process and eligibility on the government’s website at http://www.gov.bc.ca/BCTESG.

About Valley First

Valley First is a premier provider of banking, investment and insurance services for residents and businesses in the Okanagan, Similkameen and Thompson valleys. As a division of First West Credit Union, B.C.'s third-largest credit union with 54 branches and 38 insurance offices throughout the province, Valley First brings innovative products, an extensive branch network and local decision making to the banking experience. For more information on Valley First, visit www.valleyfirst.com.

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