 鲜花( 5)  鸡蛋( 0)
|
Thanks, here are details.
Canada Learning Bond
7 I* y* @8 ^2 z8 c1 e% ^/ C8 qThe Federal Government, in the 2004 Budget, introduced the Canada Learning
) c2 n# f2 s2 l# bBond. The Bond is aimed at helping low-income families save for their children’s
7 q7 d/ o3 E2 v+ m5 \9 h3 ]* S6 Vpost-secondary education pursuits. Beginning in 2004, each child born to lowincome
: _3 B$ p8 v$ Y4 s; tfamilies, those earning $35,000 or less and who are also entitled to receive* e, S8 S. I4 e
the National Child Benefit, will receive a $500 Canada Learning Bond.
* _: {5 n! B3 E' \4 I: aAssuming a child remains qualified for the Canada Learning Bond, the child will6 w9 o& A8 t6 Y* {& Q: p4 X; A
continue to receive $100.00 in each subsequent year in Canada Learning Bond
7 ]: ]# M# o0 l0 Winstallments. The Federal Government projects that the Canada Learning Bond will+ a6 e9 q) J" c# t1 J! K" r
carry a cost of up to $85 million this year and up to 120,000 children will benefit
% R! b) L* O" ~ m0 Jfrom the program2. The government says a child living in a low-income household- R$ P9 F0 U- z8 p3 _5 Q( g1 r
could receive up to $2,000 for their education.
7 Z9 ]8 }* Y/ b j. `" kAdditionally, in terms of post-secondary education and low-income families, the
. B) u/ L% _; ^* Ngovernment has introduced a new one-time grant of up to $3,000 for first-year3 p* W& N/ }3 M% X7 F" K# _5 W* x" |
students whose family income hovers around $35,000 or less a year.
% h3 u3 M9 T$ k" j' m; Y6 ]Alberta Centennial Education Savings Plan Act
8 @7 b( A: r4 W6 f+ B5 R% dDuring the 2004 Spring Sitting, the Alberta Government introduced and
+ {$ u3 |6 ]$ R& W* U( u2 A& dsubsequently passed the Alberta Centennial Education Savings Plan Act. The
" N2 M; p2 w" K4 N- `; C6 ~program created by the Act is available only to residents of Alberta who have% a$ x1 {; w' t# f0 \8 K2 p* ?
children born after January 1, 2005 (Alberta’s Centennial). The program, at first8 e3 i* j% b$ I# `) N9 W
glance, seems quite simple in scope but it does have many intricate details that,) F- i# d. r7 C6 s: H2 m
once communicated, reveal a complicated program that relies on proactive parents
d9 o* F- G; nto absorb the full benefit of the program.
7 v% L1 d. O6 W8 c$ d# M% oAlberta residents, who have a baby born on January 1, 2005, or after, will be; ^) w$ h T6 L l' f. [
eligible for a $500.00 grant toward the baby’s established RESP. The grant will9 c% I/ y: q7 @+ M1 e: Z3 Z- f# C. N
only be awarded if a RESP is established within the first year of the baby’s birth7 N6 D1 V& _( k; x
(though Alberta Learning is looking to extend this deadline to two years or, albeit
5 C1 h" `7 k2 K' D8 v* }3 N5 Punlikely, extending the deadline until the baby has reached their first year of8 l* k- Y' ~' p9 v
schooling). Should a year elapse and the parents do not arrange an RESP account,( t; M$ x' S5 \( L; m5 f) O, f8 h
for the baby, then the baby will not receive the $500.00 grant, period. Subsequent
: {- P" L& C. e$ u9 X$100.00 grants are awarded when the child reaches grades 3, 6 and 9. Each of) }) T3 c3 v- ?3 m( _9 F R
those grants will require parents to provide matching dollars to qualify. These J7 z+ H" a$ {1 i' w; t5 [1 l5 s4 S4 `
grants are awarded with the same limitations and restrictions as the initial $500.00
. s+ P( n6 [+ t! W* B0 g5 T) `2 X! Dgrant. Potentially, an RESP could receive up to $800.00 in Provincial grant money. |
|