Friday, March 4th, 2011

Government Helps Manitoba Save for Education

Save for Education

The project is aimed at low and middle income families in Manitoba.

The Government of Canada is launching a new project that will help Manitobans save for education.

“Our government believes that access to post-secondary education is important to securing future opportunities for young Canadians,” said the Honourable Steven Fletcher, Minister of State (Democratic Reform).

“This investment will help encourage families to save early for their children’s future education.”

The project is aimed at low- and middle-income families in Manitoba, in the hopes that parents can send their kids (or themselves) to post-secondary studies. The focus will be on improving their financial literacy and money management skills.

The announcement was made last week by Minister of State Fletcher, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development.

Supporting Employment and Economic Development (SEED) Winnipeg will spearhead the project and encourage individuals and families to open Registered Education Savings Plans. SEED will also help them access education savings incentives such as the Canada Learning Bond and the Canada Education Savings Grant.

The Canada Learning Bond is available to families that receive the National Child Benefit Supplement, for children who were born after December 31, 2003. The Canada Education Savings Grant offers an incentive for families to save for a child’s education by giving Canadians a grant of 20 percent on the first $2,500 contributed to an RESP, regardless of income.

Ryan Leclaire
Author: Ryan Leclaire
Ryan has been writing for 7 years and has been featured in Chatelaine, Canadian Living and Cottage life.
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