British Columbia Government Announces Proposal for new Education Savings Grant

TORONTO, March 8, 2013 /CNW/ - Heritage Education Funds is pleased to share that the provincial government in British Columbia (B.C.) is proposing a new Training and Education Savings Grant, which plans to assist more families in saving for their children's post-secondary education.

The B.C. Training and Education Saving Grant would essentially be available only to those who have a Registered Education Savings Plan (RESP) and is anticipated to be offered as a one time grant of $1,200. No matching or additional contributions are required to receive this grant, and eligibility will be strictly for residence of B.C who are under six years of age. All that is required is to open an RESP account and apply before the child turns seven years old.

In the formal proposal announcement, made by the provincial B.C Government on February 19, 2013, they stated; "Starting this year, families with eligible children who open or already have an RESP will receive a confirmation letter stating the B.C. government will deposit $1,200 into their RESP as soon as the administrative process for this new program is in place." The announcement continued to explain that they have partnered with the federal government to put the necessary banking and information systems in place to ensure these grants can only be used for post-secondary education.

The B.C. government recognizes the growing importance of further education and the importance of partnering with parents to save early to provide these life changing opportunities to their children. The government has expressed that it is important to encourage post-secondary education, as the majority of job openings now require formal education, and or training.

The grant is expected to complete full implementation within 18 months. Heritage encourages B.C residence to set up their RESP accounts early and can do so by calling our toll-free number at 1.800.739.2101, or finding your local Heritage Representative on our online search tool.

About Heritage Education Funds Inc.

Heritage Education Funds Inc. is one of Canada's leading providers of fixed income RESPs (Registered Education Savings Plans) and is the distributor of the Heritage and Impression Plans.  Heritage's objective is to encourage parents, grandparents and other interested adults to save for a child's post-secondary education through a planned education savings program.

This document and the information contained herein are provided solely for information purposes, and are not to be construed as a solicitation of an offer to buy or sell any securities or other financial instruments in Canada or any other jurisdiction. No investment decision relating to securities of or relating to Heritage Education Funds Inc. or its affiliates should be made on the basis of this document.

No representation or warranty is made or implied concerning, and Heritage Education Funds Inc. assumes no responsibility for, the accuracy, completeness, reliability or comparability of the information contained herein relating to third parties, which is based solely on publicly available information. This document contains statements that constitute "forward looking statements." While these statements represent Heritage's judgements and expectations concerning the matters described, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from Heritage's expectations.

Heritage Education Funds Inc. specifically prohibits the redistribution or reproduction of this material in whole or in part without the prior written permission of Heritage Education Funds Inc., and Heritage Education Funds Inc. accepts no liability whatsoever for the actions of third parties in this respect.

© 2013 Heritage Education Funds Inc. Heritage Education Funds is the trade name of Heritage Education Funds Inc., Heritage Education Funds RESPs are offered by Prospectus only.

SOURCE: Heritage Education Funds Inc.

For further information:

Media Inquires: 

Alexzandria Johnson
Director, Marketing
Heritage Education Funds
Direct Phone: 416.758.6494
Email: a.johnson@heritagefunds.ca


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