School trustees want to get the word out to Nanaimo families about a federal grant program that helps families save early for their child’s post-secondary education.
The Canada Learning Bond is available to children who meet specific criteria outlined by the Canada Education Savings Program – children born in 2004 or later are eligible if their families receive the National Child Benefit Supplement.
Each child can receive up to $2,000 toward a post-secondary education program.
The federal government makes a one-time, $500 payment into the Registered Education Savings Plan of children who quality and then a $100 deposit each subsequent year the child’s primary caregiver receives the National Child Benefit Supplement, which is paid monthly to low-income families with children under the age of 18.
Caregivers do not have to put any of their own money into an RESP to get the grant.
Jamie Brennan, school board chairman, said trustees want information on the Canada Learning Bond to go to administrators at each school for inclusion in newsletters to parents.
“We’re just making sure students and families are aware of this,” he said. “We do have quite a few struggling families in our district.”
More information on the bond can be found at canlearn.ca.