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All Alberta children to receive educational grants
The Alberta government has just passed an amendment to previous legislation, making all Alberta students eligible for $100 Alberta Centennial Education Savings Plan grants. This grant was originally intended as a centennial gift to all babies born in 2005 and beyond, with each receiving an initial $500, then $100 grants in their RESP’s at age 8, 11, and 14. Now all Alberta children will be eligible for the grants when they reach those age groups, although it appears that only babies born in 2005 and beyond will receive the initial $500 grant.
To access the funds, parents must apply for a Social Insurance Number for their child and open an RESP, depositing at least $100 before applying for the grant. The program is expected to begin April 1 of 2006, with no end date. More information is available to parents at: www.advancededucation.gov.ab.ca/aces.
Although this initiative does not help current university students, the government hopes it will help to promote a culture of “saving for education” among parents and improve advantages for young Albertans.
All Alberta students now eligible for centennial education plan grants: Edmonton Journal, December 6, 2005, Canada.com: http://www.canada.com/edmontonjournal/news/story.html?id=09e33b47-b813-4f4f-8900-cf7de92eea37
Alberta Government Centennial RESP information: http://www.advancededucation.gov.ab.ca/aces/