To highlight how easy it is for families to get the new $1,200 BC Training and Education Savings Grant, Education Minister Don McRae and East Kootenay MLA Bill Bennett visited the East Kootenay Community Credit Union to discuss the new grant with one of the credit union's financial planning experts and a local parent.

To access the new grant, families simply open a Registered Education Savings Plan (RESP) before their child turns seven. It's a straight forward process that takes only a short time at a bank or other financial institution. You can also open an RESP securely through an online investment firm.

Make sure you have:

• Family member or guardian's Social Insurance Number.

• Social Insurance Number for the RESP beneficiaries (the child or children).

• One piece of government issued identification for the family member or guardian setting up the RESP.

By opening a RESP account - not only is a child entitled to $1,200 from the Province of British Columbia - they can also access other savings grants from the Government of Canada. Parents then work with the financial institution to make the necessary applications. No matching or additional contribution is required to receive the BC Training and Education Savings Grant.

By investing in a RESP, the $1,200 provincial grant, other savings grants, family contributions and compound interest will grow over time, making it easier for B.C.'s children to pursue their chosen careers. Having a RESP in place also makes it easier for grandparents and other family members to help put money toward future education.

Quotes:

Education Minister Don McRae -

"We want all British Columbia families with children under the age of seven to know how easy it is to access the $1,200 BC Training and Education Savings Grant. If parents already have a RESP for their child set up, they've already taken the most important step to get the grant. If they haven't set up a RESP to get the grant then the time to do so is now."

Bill Bennett, MLA, Kootenay East -

"Most jobs of the future will require some kind of post-secondary education and that includes jobs in skilled trades and technology fields. Opening a RESP for a young child, and getting the new B.C. grant, is a great way for a family to begin building savings for the future."

Information about the BC Training and Education Savings Grant is available at: http://www.budget2013.ca/bc-training-and-education-savings-grant/

Information about RESPs, including tips on starting a RESP and education savings grants from the Government of Canada, is available at: www.canlearn.ca

Contact:

Government Communications and Public Engagement
Ministry of Education
250 356-5963