Free Money for RESPs
Families in BC can receive up to $3,200 for their child's education without contributing a cent.
Every child in BC can get the $1,200 BC Training and Education Savings Grant (BCTESG) at age 6, 7, or 8. Kids in BC also have free money waiting to get their post-secondary education savings started through the federal government's Canada Learning Bond.
Yes, it's FREE MONEY for families to get savings started, even when they have no money of their own to contribute.
You only need to set up an RESP account to apply and receive the money. Without an RESP, kids miss out on the federal and provincial education savings incentives they are entitled to receive from the government.