 鲜花( 5)  鸡蛋( 0)
|
Thanks, here are details.
Canada Learning Bond
% V. S9 ~: D* FThe Federal Government, in the 2004 Budget, introduced the Canada Learning
6 K6 C+ f8 @* B4 {Bond. The Bond is aimed at helping low-income families save for their children’s7 p7 d; A1 q+ j# P T6 G7 u* ~
post-secondary education pursuits. Beginning in 2004, each child born to lowincome
* y6 U: d p; ]families, those earning $35,000 or less and who are also entitled to receive/ M7 E3 s- p+ e
the National Child Benefit, will receive a $500 Canada Learning Bond.& r3 u8 r$ Q! ~4 x' y' _" F
Assuming a child remains qualified for the Canada Learning Bond, the child will
. Q& N2 f" ~5 m5 Fcontinue to receive $100.00 in each subsequent year in Canada Learning Bond
' n f& m6 H' N2 [" tinstallments. The Federal Government projects that the Canada Learning Bond will
+ }% b# X; c# Q3 _carry a cost of up to $85 million this year and up to 120,000 children will benefit& F; n! \! t: a# X( \: c
from the program2. The government says a child living in a low-income household
3 Y8 P3 D; O; @. R7 Ucould receive up to $2,000 for their education.
3 V3 v/ m3 D! m& q; D1 [Additionally, in terms of post-secondary education and low-income families, the
' X n+ @! u% ?' U8 Y% h3 Hgovernment has introduced a new one-time grant of up to $3,000 for first-year
0 Z) o) T* v0 l: \: N5 e5 a* o4 ?students whose family income hovers around $35,000 or less a year.$ K$ B: K) T# ~" @ @% c
Alberta Centennial Education Savings Plan Act
B% L c# h8 M# ^( N gDuring the 2004 Spring Sitting, the Alberta Government introduced and; b: D% A! { F* O7 r& B
subsequently passed the Alberta Centennial Education Savings Plan Act. The
4 ~' C7 a6 P" w4 ^# S9 \program created by the Act is available only to residents of Alberta who have; n3 I& a9 R1 E7 C) A
children born after January 1, 2005 (Alberta’s Centennial). The program, at first& W# @8 {) d% q, s# K
glance, seems quite simple in scope but it does have many intricate details that,( Y t M4 k* [
once communicated, reveal a complicated program that relies on proactive parents
# `3 u8 u8 ]. p9 S j, ~to absorb the full benefit of the program.
8 p0 f8 y4 q# l! y7 GAlberta residents, who have a baby born on January 1, 2005, or after, will be
; `& q$ H% K6 b5 U9 heligible for a $500.00 grant toward the baby’s established RESP. The grant will
) a. w* e2 z- I) m2 Gonly be awarded if a RESP is established within the first year of the baby’s birth7 i0 i# k! ^! J( y1 a
(though Alberta Learning is looking to extend this deadline to two years or, albeit% h, r5 f3 z3 d
unlikely, extending the deadline until the baby has reached their first year of
: u5 U8 t* w0 K9 b8 y& S" Dschooling). Should a year elapse and the parents do not arrange an RESP account,
& a2 A. A9 t& R+ c) V! `1 |for the baby, then the baby will not receive the $500.00 grant, period. Subsequent
: r2 S1 }0 I+ x7 {$100.00 grants are awarded when the child reaches grades 3, 6 and 9. Each of J+ j+ W. x9 L P6 Y/ R: F
those grants will require parents to provide matching dollars to qualify. These
0 H* f1 p' v3 ygrants are awarded with the same limitations and restrictions as the initial $500.00) _" S8 _9 o2 L; k8 r# e
grant. Potentially, an RESP could receive up to $800.00 in Provincial grant money. |
|