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Thanks, here are details.
Canada Learning Bond 
. j, c! p, c/ S  N3 u0 eThe Federal Government, in the 2004 Budget, introduced the Canada Learning& p/ y& L1 u7 R9 y+ ] 
Bond. The Bond is aimed at helping low-income families save for their children’s 
3 d3 C! i3 N" J7 p! q: X, o# @7 Zpost-secondary education pursuits. Beginning in 2004, each child born to lowincome 
+ j+ i4 y; z1 L( }- J. mfamilies, those earning $35,000 or less and who are also entitled to receive+ w1 d3 t- W: d9 n. `6 a$ E, z) K 
the National Child Benefit, will receive a $500 Canada Learning Bond. 
' c+ }2 N& ]6 M8 Q: WAssuming a child remains qualified for the Canada Learning Bond, the child will4 a) z' f' n, \5 t7 M# ]# h 
continue to receive $100.00 in each subsequent year in Canada Learning Bond 
: h, l  Z2 l' }# X+ f2 Zinstallments. The Federal Government projects that the Canada Learning Bond will5 T% O  F- X$ b" `+ r, } 
carry a cost of up to $85 million this year and up to 120,000 children will benefit 
! J/ q4 c( {% ]" Wfrom the program2. The government says a child living in a low-income household 
# \$ E1 K' E: L, s5 j" o* G* vcould receive up to $2,000 for their education. 
  l$ [) u9 u4 |/ j* a. NAdditionally, in terms of post-secondary education and low-income families, the: ]6 F" y5 f! t$ z 
government has introduced a new one-time grant of up to $3,000 for first-year, K2 `- l" m8 N8 }4 b1 w 
students whose family income hovers around $35,000 or less a year.* ^( W% a: J. G8 B$ e2 H* z% e 
Alberta Centennial Education Savings Plan Act  n6 Q# V8 v. L* A/ h$ | 
During the 2004 Spring Sitting, the Alberta Government introduced and+ q6 W0 b4 W: V" G 
subsequently passed the Alberta Centennial Education Savings Plan Act. The 
/ B: @% [% h1 sprogram created by the Act is available only to residents of Alberta who have1 U6 M, s' ]9 L 
children born after January 1, 2005 (Alberta’s Centennial). The program, at first 
0 I) f$ J6 y& _: N" yglance, seems quite simple in scope but it does have many intricate details that,. m' ]+ ?; L: u- [ 
once communicated, reveal a complicated program that relies on proactive parents 
: e6 b# z2 |5 z+ [# Gto absorb the full benefit of the program. 
9 i' G/ h: ~" a$ Z. JAlberta residents, who have a baby born on January 1, 2005, or after, will be 
' a! p* d! s& N& {! f9 ?# ~% Meligible for a $500.00 grant toward the baby’s established RESP. The grant will 
- N6 W8 a9 z. d3 Q: M. monly be awarded if a RESP is established within the first year of the baby’s birth 
4 v- k2 a, `7 R6 b( t(though Alberta Learning is looking to extend this deadline to two years or, albeit 
% J+ a% y+ x% j( _" ?unlikely, extending the deadline until the baby has reached their first year of 
& A$ M. Y1 x/ K+ y  ^6 Qschooling). Should a year elapse and the parents do not arrange an RESP account, 
, c, E3 `( N! ?! {for the baby, then the baby will not receive the $500.00 grant, period. Subsequent 
2 x( K# M4 c% ^: W$100.00 grants are awarded when the child reaches grades 3, 6 and 9. Each of 
/ S6 m. d/ t/ L2 u3 [& othose grants will require parents to provide matching dollars to qualify. These 
5 l: w- j3 J6 G" Hgrants are awarded with the same limitations and restrictions as the initial $500.009 m, l; z& X3 R) ] 
grant. Potentially, an RESP could receive up to $800.00 in Provincial grant money. |   
 
 
 
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