The British Columbia Training and Education Savings Grant (BCTESG) is a unique provincial grant that provides a one-time payment of $1,200 for a child's RESP, with no matching contributions required.
A child is eligible for BCTESG when they turn six, up until the day before they turn nine.
Children who were between the ages of 6 and 9 when the program was introduced in 2015 were given three years to apply. The program was later extended to include children who were born in 2006
- For a beneficiary born in 2006, the deadline to apply is August 14, 2019;
- For a beneficiary born in 2007 or 2008, the deadline to apply is August 14, 2018;
- For a beneficiary born on or between January 1, 2009 and August 15, 2009, the deadline to apply is August 14, 2018; or
- For a beneficiary born any time on or after August 16, 2009, the deadline to apply is by the beneficiary's ninth (9th) birthday.
- If this is a new RESP, the parent/guardian and the child must both possess a valid Social Insurance Number (SIN). Additionally, the parent/guardian must possess one of the following:
- A valid British Columbia driver's licence;
- A British Columbia Identification (BCID) Card with a picture;
- A British Columbia Services Card; or
- A British Columbia utilities bill (dated within the last 3 months and listing the current address of the custodial parent or legal guardian). A utilities bill can be any of: electricity, gas, phone, cable, water or garbage bills.
You (the Subscriber/Client)
- Subscriber completes and submits the BCTESG application form to Knowledge First Financial head office.
Knowledge First Financial
- Knowledge First Financial reviews the BCTESG eligibility criteria and information provided on the BCTESG application form.
- Knowledge First Financial submits the BCTESG information to ESDC on the subscriber's behalf.
- ESDC processes transactions, validates eligibility, calculates and makes payments of the BCTESG on behalf of the Government of British Columbia to Knowledge First.
Knowledge First Financial
- Knowledge First Financial deposits the BCTESG payment towards the specific RESP accordingly.
- Knowledge First Financial notifies the subscriber, via the annual Statement of Account, that the BCTESG payment has been deposited towards the RESP.
Restrictions and Conditions
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Heritage Education Funds is a division of Knowledge First Financial Inc. Knowledge First Financial Inc. is a wholly owned subsidiary of the Knowledge First Foundation and is the investment fund manager, administrator and distributor of the education savings plans offered by Knowledge First Foundation and Heritage Educational Foundation. For more information about our education savings plans, please visit knowledgefirstfinancial.ca or refer to our prospectus.