 鲜花( 5)  鸡蛋( 0)
|
Thanks, here are details.
Canada Learning Bond8 i4 H# O ]9 x' x8 H1 o
The Federal Government, in the 2004 Budget, introduced the Canada Learning# C+ s5 j% @+ R. R$ j
Bond. The Bond is aimed at helping low-income families save for their children’s
+ O9 I0 a2 w6 n3 ?3 o5 A6 [2 Ypost-secondary education pursuits. Beginning in 2004, each child born to lowincome& o; V! }7 p" f( |9 I) v) V
families, those earning $35,000 or less and who are also entitled to receive. L7 I- H/ R) Q& D
the National Child Benefit, will receive a $500 Canada Learning Bond.
5 l4 E. x0 S7 s) b& EAssuming a child remains qualified for the Canada Learning Bond, the child will
+ P3 E- A& a9 ^; {0 q# W4 G3 |continue to receive $100.00 in each subsequent year in Canada Learning Bond4 l0 y; e' q6 {3 _) @
installments. The Federal Government projects that the Canada Learning Bond will& i$ D2 t5 }- S
carry a cost of up to $85 million this year and up to 120,000 children will benefit& w( Q- `% F) |
from the program2. The government says a child living in a low-income household
( t( W8 e' X& _- b1 a+ V+ V U7 _could receive up to $2,000 for their education.
4 N7 h1 w( G- x H& c# L1 O) \Additionally, in terms of post-secondary education and low-income families, the1 T: L/ b$ [7 S
government has introduced a new one-time grant of up to $3,000 for first-year
4 I& k2 E, _6 u0 W9 h4 B* Wstudents whose family income hovers around $35,000 or less a year.6 C% t: }, ^ G8 J% \+ n
Alberta Centennial Education Savings Plan Act
6 N/ R4 E5 c4 Y# z, `- Z) mDuring the 2004 Spring Sitting, the Alberta Government introduced and
2 |( s( y7 l/ ]" z( esubsequently passed the Alberta Centennial Education Savings Plan Act. The- m/ a8 H+ i- m/ e+ w
program created by the Act is available only to residents of Alberta who have1 H- i h& I. {0 E* n! P
children born after January 1, 2005 (Alberta’s Centennial). The program, at first
8 f% o& [( j s+ t5 T# I0 D( \glance, seems quite simple in scope but it does have many intricate details that,
1 }, f8 a& N9 C4 y, Donce communicated, reveal a complicated program that relies on proactive parents# {+ v5 v" o, _; S
to absorb the full benefit of the program.+ [) }3 G; T. ~, [$ t5 P
Alberta residents, who have a baby born on January 1, 2005, or after, will be
5 }4 W- x- _7 \! `5 d3 ]7 d; Aeligible for a $500.00 grant toward the baby’s established RESP. The grant will
/ K' o% b& M1 ~# Ionly be awarded if a RESP is established within the first year of the baby’s birth) B* E( p) \6 [
(though Alberta Learning is looking to extend this deadline to two years or, albeit
, m- _& k* w* H- t' ^unlikely, extending the deadline until the baby has reached their first year of5 e9 c! Z9 s* \) W
schooling). Should a year elapse and the parents do not arrange an RESP account,
1 k# ]. L' k* I) c% xfor the baby, then the baby will not receive the $500.00 grant, period. Subsequent& r9 s/ u. {- b {6 t5 {
$100.00 grants are awarded when the child reaches grades 3, 6 and 9. Each of
' I$ @1 ?5 [# d( f4 G% |6 Kthose grants will require parents to provide matching dollars to qualify. These
0 Y, P- _ m) h* P7 W9 i' ?grants are awarded with the same limitations and restrictions as the initial $500.006 o) R' H0 y* S
grant. Potentially, an RESP could receive up to $800.00 in Provincial grant money. |
|