Starting young is one way to help ensure children have finances available to give them a boost as they face their post-secondary educational path.
One resource to start your children’s education savings is the Canada Learning Bond, which provides up to $2,000 towards post-secondary education.
There are some eligibility criteria, such as children must be born in 2004 or later. All eligible children receive at least $500 and will receive $100 more each year they remain eligible up to age 15, for a maximum of $2,000.
Are there any catches?
You do not need to contribute any money to get the Canada Learning Bond. The funds can be used for education directly after high school or later in life. It is for part-time or full-time studies at a college, university or other qualifying schools in Canada or outside the country. The person has up to 36 years to use the money.
How to apply
- Visit www.smartsaver.org and complete an application form. You will need a Social Insurance Number for both you and your child.
- SmartSAVER will send your information to the financial institution you choose.
- A representative from that financial institution will contact you to set up a meeting.
- When you meet with the representative, you will show your ID and sign your application.
- Your application will be sent to the appropriate government department. If approved, Canada Learning Bond funds will start to be deposited into your child’s Registered Education Savings Plan.
Be aware and get your share
Currently, information sessions are being held across the province to inform the community about the federal and provincial benefits available for individuals and families who qualify.
For more information, contact Amy Doyle at 902-388-1773, [email protected].
2018 scholarships, awards, grants, and bursaries for post-secondary
These are types of financial assistance that you don’t have to pay back. It takes hard work and a commitment to research your options to help finance your post-secondary education, but it pays off.
The criteria to receive assistance vary, and could include academic achievement, athletic skill, extra-curricular and community involvement, and/or special abilities. Scholarships are typically based on accomplishment and other specific criteria, while grants and bursaries may take financial need into consideration as well.
For a full list of scholarships, awards, grants, and bursaries available for 2018, visit www.employmentjourney.com/bursary-awards-scholarships.
Did you know….there is help to file your income taxes?
Income tax time just might mean more money coming your way. The Community Volunteer Income Tax Program may be able to assist you. This free program is available to eligible taxpayers who have modest income and simple tax situations. When working with the volunteers at the clinic, you may find out about benefits/credits you were unaware of that you could take advantage of when filing your tax return.
For more information on this service, please call Charlottetown – 902-566-9602
Summerside, O’Leary, Tignish, Alberton, St. Peters, Cardigan, Kinkora, Wellington – 1-855-888-6837
Hunter River – 902-621-2522
Montague – 902-838-0600
Visit www.canada.ca and search Community Volunteer Income Tax Program.