 鲜花( 5)  鸡蛋( 0)
|
Thanks, here are details.
Canada Learning Bond3 s/ O0 U. o' K4 }# ^
The Federal Government, in the 2004 Budget, introduced the Canada Learning. e( G, P" s$ d p- S' F2 ]
Bond. The Bond is aimed at helping low-income families save for their children’s
4 r, J$ u8 T' ~# T) P. S3 Upost-secondary education pursuits. Beginning in 2004, each child born to lowincome& M, w5 M3 t# Y7 Z$ ]2 y
families, those earning $35,000 or less and who are also entitled to receive
8 f4 t3 \6 Z! u3 B+ |' }the National Child Benefit, will receive a $500 Canada Learning Bond.
; D/ F# `2 R9 t; PAssuming a child remains qualified for the Canada Learning Bond, the child will& _% K! d1 H% X1 g: R
continue to receive $100.00 in each subsequent year in Canada Learning Bond8 ^# s! b2 a% {6 t
installments. The Federal Government projects that the Canada Learning Bond will, B; y2 @. v( ^5 Y5 M
carry a cost of up to $85 million this year and up to 120,000 children will benefit3 H, p; Z+ p% `$ C3 P6 U
from the program2. The government says a child living in a low-income household
" y" @) e& o+ r1 Ecould receive up to $2,000 for their education.
$ |% Y( r m: CAdditionally, in terms of post-secondary education and low-income families, the
1 g2 T* k* M1 I- rgovernment has introduced a new one-time grant of up to $3,000 for first-year* X3 S# D: e/ a' Z( ]
students whose family income hovers around $35,000 or less a year.: J1 K8 V; Q8 @& {5 A& a
Alberta Centennial Education Savings Plan Act
0 b8 E" j" b3 J. P- E) s: ]1 [During the 2004 Spring Sitting, the Alberta Government introduced and0 w1 p& I8 f' }- q/ Z
subsequently passed the Alberta Centennial Education Savings Plan Act. The
& V& A9 |, y' E7 g" K/ b- c% f6 uprogram created by the Act is available only to residents of Alberta who have8 G" q$ ^2 I0 V5 s4 G6 {* b: \1 d
children born after January 1, 2005 (Alberta’s Centennial). The program, at first$ _, `4 s3 H1 w# ^6 @
glance, seems quite simple in scope but it does have many intricate details that,
' T7 r& I, L; d+ V- ~once communicated, reveal a complicated program that relies on proactive parents% h' Y6 A% |6 @2 f2 W1 x
to absorb the full benefit of the program.
' { t4 L0 j8 w/ L! w/ b8 LAlberta residents, who have a baby born on January 1, 2005, or after, will be
5 s& ], Z G" D0 |* i" {eligible for a $500.00 grant toward the baby’s established RESP. The grant will9 n L& v9 _; D7 o( p
only be awarded if a RESP is established within the first year of the baby’s birth
# h& w, @" a9 x( ^- p& E(though Alberta Learning is looking to extend this deadline to two years or, albeit
+ H8 V1 |* m" b* d' Lunlikely, extending the deadline until the baby has reached their first year of
7 h; Y; E& A& J* X, \, a$ uschooling). Should a year elapse and the parents do not arrange an RESP account,
3 N) ?" j; {; V: K$ b) [for the baby, then the baby will not receive the $500.00 grant, period. Subsequent
- o% U" l) a( @6 l0 k8 A: R$100.00 grants are awarded when the child reaches grades 3, 6 and 9. Each of
9 a, K5 }( t0 p5 F/ Tthose grants will require parents to provide matching dollars to qualify. These+ S% H* |; Z3 Y
grants are awarded with the same limitations and restrictions as the initial $500.00
* R5 I3 ~9 X0 {) u/ zgrant. Potentially, an RESP could receive up to $800.00 in Provincial grant money. |
|