 鲜花( 5)  鸡蛋( 0)
|
Thanks, here are details.
Canada Learning Bond8 }( l+ ^1 m/ O- ~
The Federal Government, in the 2004 Budget, introduced the Canada Learning9 B R; c/ S6 S5 J( V
Bond. The Bond is aimed at helping low-income families save for their children’s
4 q4 Y8 a; \& Q5 ?8 Vpost-secondary education pursuits. Beginning in 2004, each child born to lowincome
% b, s# C2 C, O& X5 ~. ?families, those earning $35,000 or less and who are also entitled to receive
9 ^3 S! N" B% |2 b( V0 T- g6 Othe National Child Benefit, will receive a $500 Canada Learning Bond.
, D# E) n& ~. E" CAssuming a child remains qualified for the Canada Learning Bond, the child will
# G1 J2 V9 |% I$ gcontinue to receive $100.00 in each subsequent year in Canada Learning Bond
+ Q7 I; u( o5 T2 Kinstallments. The Federal Government projects that the Canada Learning Bond will
9 o5 J( r9 H8 r7 C1 p9 ecarry a cost of up to $85 million this year and up to 120,000 children will benefit
8 | F6 f6 l; }from the program2. The government says a child living in a low-income household
L5 b: |' g# ^5 b/ {% Q# G$ \could receive up to $2,000 for their education.
# m: e/ E! a' }2 y$ IAdditionally, in terms of post-secondary education and low-income families, the
0 Q4 W6 S, J+ o8 m% R; V! {. a. Agovernment has introduced a new one-time grant of up to $3,000 for first-year+ h! ~$ s1 g5 P# l
students whose family income hovers around $35,000 or less a year.6 V- F7 m; W/ b- ^' K" j3 Z
Alberta Centennial Education Savings Plan Act; ~" w1 e" Q. a+ L9 a
During the 2004 Spring Sitting, the Alberta Government introduced and
! Y( _( Y( i; X6 q& @0 U# Tsubsequently passed the Alberta Centennial Education Savings Plan Act. The
: D! o3 U/ |5 `, ~/ y4 ]. R8 nprogram created by the Act is available only to residents of Alberta who have, t8 r/ ~; q+ J0 l
children born after January 1, 2005 (Alberta’s Centennial). The program, at first
4 I1 u! g( ~6 ~. h. h) [! I4 O+ b! hglance, seems quite simple in scope but it does have many intricate details that,2 [1 @3 @$ F- b& s
once communicated, reveal a complicated program that relies on proactive parents8 O% E0 @) ^+ m# }7 o1 K5 P4 Q
to absorb the full benefit of the program.
! A; K- o0 |5 K! W+ X6 mAlberta residents, who have a baby born on January 1, 2005, or after, will be. R* K7 R, M" z4 a. J
eligible for a $500.00 grant toward the baby’s established RESP. The grant will- ~$ x5 ~ i4 M: t
only be awarded if a RESP is established within the first year of the baby’s birth" _) W+ ?, x& s
(though Alberta Learning is looking to extend this deadline to two years or, albeit, S" D, ]1 F- p
unlikely, extending the deadline until the baby has reached their first year of/ C6 }- r8 Y4 Y5 ?! h
schooling). Should a year elapse and the parents do not arrange an RESP account,
# Y- u" _5 ] [# P3 xfor the baby, then the baby will not receive the $500.00 grant, period. Subsequent4 M: k' D3 d' e% e/ z
$100.00 grants are awarded when the child reaches grades 3, 6 and 9. Each of p& \6 U( Z$ X% H$ z
those grants will require parents to provide matching dollars to qualify. These
/ ]% v' F9 Y1 |: p0 ~grants are awarded with the same limitations and restrictions as the initial $500.001 u j' b3 h2 m! E
grant. Potentially, an RESP could receive up to $800.00 in Provincial grant money. |
|