B.C. BUDGET: Education fund has $1,200 for kids under seven

A children’s education fund set up by the B.C. government in 2007 is being distributed to parents, with a suggestion that they add to the fund for their kids’ education.

Payouts of $1,200 will be made from the fund for each child as they turn six.

To qualify, parents have to open a Registered Education Savings Plan and apply for the grant before their child turns seven.

Eligible children are those born on or after Jan. 1, 2007, resident in B.C. with an RESP account set up by Feb. 28, 2014.

The budget also provides $32 million over three years for new child-care spaces and a new early childhood tax benefit for families with young children, to take effect in April 2015.

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