In the 2013 Budget, the British Columbia (“BC”) government announced the $1200 BC Training and Education Savings Grant (“BCTESG”). Eligible children must meet three basic criteria to receive the grant: be born on or after January 1, 2007, have a Registered Education Savings Plan (“RESP”) before they turn seven years old and be a BC resident.
To receive the grant the first step is to open an RESP account and then apply for the BCTESG through your financial institution. Grant applications will not be available until August 2015; at that time families with RESPs in place for eligible children will receive a notification from the Province to apply.
For more information on the BCTESG visit the government website here.