SMARTSAVER to help middle class family pay for their kids’ higher education
Brampton – SmartSAVER, a non-profit program of the Omega Foundation that works with communities across Canada to make it easier for families to save for their children’s future education using RESPs and the Canada Learning Bond. SmartSAVER.org offers user-friendly, multi-media information about RESPs and the Canada Learning Bond in the following 16 languages: Arabic, Cantonese, English, Farsi, French, Korean, Mandarin, Oji-Cree, Portuguese, Punjabi, Somali, Spanish, Tagalog, Tamil, Urdu and Vietnamese.
SmartSAVER’s easy-to-use online Canada Learning Bond application is fully supported in English, French, Mandarin, Punjabi and Spanish and provides direct access to six banks and credit unions to establish an RESP at no cost, with no contribution required to receive the Canada Learning Bond. SmartSAVER’s financial institution partners are: BMO Bank of Montreal, Meridian Credit Union, RBC Royal Bank, Scotiabank, TD Bank Group and Vancity credit union.
A national contest in this regard has been announced that is slated to run from November 1 to December 31 to coincide with Financial Literacy Month and Education Savings Week. The programme has been initiated to help families save to meet the crushing expenses of their children’s higher education by increasing awareness of the Canada Learning Bond, which is a contribution of up to $2,000 by the Government of Canada into a Registered Education Savings Plan (RESP). Any child born in 2004 or later and whose family has a net family income of $44,701 or less, is eligible to receive the Canada Learning Bond.
To participate in the contest families are required to fill in an online free to cost application with the participating bank or credit union of their choice, and apply for this bond for their child. By only doing so they will be entered to win one of the nine $1,000 weekly cash prizes for the duration of the contest also. So don’t delay, fill in the form and not only secure the future of your child but also stand a chance to be a winner.