 鲜花( 5)  鸡蛋( 0)
|
Thanks, here are details.
Canada Learning Bond
* O: S% a$ ?- i) yThe Federal Government, in the 2004 Budget, introduced the Canada Learning- c0 @& j( i4 H, C+ u2 ]
Bond. The Bond is aimed at helping low-income families save for their children’s
! x5 _4 Z% y$ q! spost-secondary education pursuits. Beginning in 2004, each child born to lowincome# `( I) U# Z- k% s q9 M# Q
families, those earning $35,000 or less and who are also entitled to receive
1 O/ f- E, Z; o4 u& h# C l9 F( \the National Child Benefit, will receive a $500 Canada Learning Bond.
/ Z1 V e* m/ M; SAssuming a child remains qualified for the Canada Learning Bond, the child will
A' I! S0 N: U( D! K2 Mcontinue to receive $100.00 in each subsequent year in Canada Learning Bond
2 K* n$ |$ v8 T9 B3 u5 Binstallments. The Federal Government projects that the Canada Learning Bond will, [: O( E/ `. I4 z) H7 l% b
carry a cost of up to $85 million this year and up to 120,000 children will benefit
& j+ ~& }0 |6 o/ vfrom the program2. The government says a child living in a low-income household
9 y+ w7 @% h* D6 R% m( \+ Ocould receive up to $2,000 for their education.. B) {( U- J/ b4 W9 ^( [$ `* N* {
Additionally, in terms of post-secondary education and low-income families, the- ~% U; K% Y7 o6 }
government has introduced a new one-time grant of up to $3,000 for first-year; I; ~* y% ?4 Y3 @
students whose family income hovers around $35,000 or less a year.7 T+ o' n# l- b4 ?+ m
Alberta Centennial Education Savings Plan Act
b+ J% K5 h/ W Y$ i& Z, zDuring the 2004 Spring Sitting, the Alberta Government introduced and4 }. s* h. l/ ]+ O8 L* @
subsequently passed the Alberta Centennial Education Savings Plan Act. The4 [! R6 Q9 _. O0 U8 L
program created by the Act is available only to residents of Alberta who have
' g& E' H0 U0 ^7 Achildren born after January 1, 2005 (Alberta’s Centennial). The program, at first- Z6 K" K( c$ r7 j" _8 \1 V2 J+ U
glance, seems quite simple in scope but it does have many intricate details that,+ g2 h) i8 f( w1 w
once communicated, reveal a complicated program that relies on proactive parents; D2 @) ^9 w/ G- U' N
to absorb the full benefit of the program.7 G* @: v/ j R& r3 ?8 X6 j
Alberta residents, who have a baby born on January 1, 2005, or after, will be* n8 T1 Y$ v M
eligible for a $500.00 grant toward the baby’s established RESP. The grant will+ V( Q5 n5 D3 v f7 `5 }
only be awarded if a RESP is established within the first year of the baby’s birth
6 D! p3 @4 J# R( P(though Alberta Learning is looking to extend this deadline to two years or, albeit
% M D* k' ], J- Q9 B+ Y2 O1 funlikely, extending the deadline until the baby has reached their first year of
% l; B& S. S: Nschooling). Should a year elapse and the parents do not arrange an RESP account,
' i1 `; O6 j1 w8 H5 k) \* Q' ofor the baby, then the baby will not receive the $500.00 grant, period. Subsequent
* `, c( y2 Z0 a- Y9 g$100.00 grants are awarded when the child reaches grades 3, 6 and 9. Each of6 H- f w1 {* }9 L. X
those grants will require parents to provide matching dollars to qualify. These
/ H" N L {4 b3 rgrants are awarded with the same limitations and restrictions as the initial $500.00/ a q, m5 e9 x* D! o; q
grant. Potentially, an RESP could receive up to $800.00 in Provincial grant money. |
|