Provincial education savings incentives
Did you know there are even more ways to add to your child's education savings?
Provinces like Saskatchewan and British Columbia may add money to a Registered Education Savings Plan (RESP).
This means you can save more money faster!
Note: The Government of Canada administers provincial grants on behalf of the provinces.
Saskatchewan Advantage Grant for Education Savings (SAGES)
Saskatchewan Advantage Grants for Education Savings (SAGES) are savings incentives to help Saskatchewan families save for their children’s post-secondary education through Registered Education Savings Plans (RESPs). The Government of Saskatchewan recently announced the temporary suspension of the SAGES grants, starting for contributions made to an RESP starting in 2018, and until further notice. The suspension does not impact other RESP savings incentives administered by the Government of Canada.
For more information concerning the suspension, please consult your RESP provider, the Government of SK web page on SAGESor call 1-866-515-2237.
The Saskatchewan Advantage Grant for Education Savings (SAGES) will help Saskatchewan families save for their children’s post-secondary education.
The Government of Saskatchewan will provide a grant of 10% on contributions made since January 1, 2013, to a Registered Education Savings Plan. The maximum grant is $250 per child per year. To be eligible for the grant, the child must be a resident of Saskatchewan when the contribution is made.
For more information, please visit the Government of Saskatchewan web page on SAGES.
British Columbia Training and Education Savings Grant (BCTESG)
Families in British Columbia are encouraged to start planning and saving early for their children’s post-secondary education or training programs. To help, the B.C. Government will contribute $1,200 to eligible children through the B.C. Training and Education Savings Grant (BCTESG).
To be eligible for the $1,200 BCTESG:
- Parent and child must be residents of B.C.
- Child must have been born in 2006 or later.
- Child must be named as a beneficiary of a RESP with a participating financial institution.
For more information about the BCTESG and to view the list of financial institutions currently offering the grant, please visit the BCTESG web page.
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