Provincial government phasing out ACES
Posted Apr 16, 2013 7:23 pm.
This article is more than 5 years old.
Albertans are being urged to take advantage of a government program before the PC’s pull the rug out from underneath it.
The Alberta Centennial Education Savings grant (ACES) is given to children born in 2005 or later, but as part of the latest provincial budget the RESP boost will be phased out.
Donna McBride with Momentum says axing the grant will only make things harder for future generations as education costs continue to soar.
She says, “The ACES grant gives a child $500 right up front as soon as the RESP is opened up and then $100 contributions, when the child is 8, 11 and 14. So, $800 to a low-income family could mean a semester of university.”
McBride adds a child is six times more likely to attend post-secondary if they have a savings account in their own name.
Momentum is hosting an RESP education event this Friday at their office from noon until 5:00 p.m.
