Chilliwack financial advisor Terry Brown (left), Barb Van Santen and just some of her many foster kids. Brown helped Van Santen get the $1,200 BC Training and Education Savings Grant for eight children last year and he’s campaigning for all parents to sign up. (Paul Henderson/The Progress file)

B.C. parents still missing out on hundreds of thousands in free money

Chilliwack financial advisor still banging the drum over unclaimed $1,200 RESP grant cash

Terry Brown has been screaming from the rooftops for months about free money that B.C. parents continue to leave on the table.

And yet still thousands and thousands aren’t listening.

“It’s a real head-scratcher,” the Chilliwack financial advisor said this week.

Brown’s message is about the free $1,200 B.C. Training and Education Savings Grant. All parents have to do is open an Registered Education Savings Plan at a financial institution, which is free, then apply for the grant through the bank or credit union. There is no requirement to match the government grant or continue to contribute.

“The ‘trick that isn’t a trick’, as I like to call it, is to open an empty RESP account just to collect your child’s provincial and federal grants,” Brown said.

“Many RESP providers allow this, but it seems that half of B.C. parents still don’t know.”

Despite his efforts to promote the grant on social media and in person to anyone who will listen, take-up is still not great.

About 47,000 kids are born every year in B.C., yet just 41 per cent of eligible children born between 2006 and 2012 have grabbed the free money offer. Of those born between 2007 and 2009, a little over 51 per cent received the grant, and for the rest of them, time’s up.

Of those born in 2010, 43.7 per cent; 2011, 34.8 per cent; and in the most recent year of eligibility, 2012, just 6,810 out of 46,028 kids have the free money so far, or 14.8 per cent.

For parents of kids born in 2006, time is running out. More than 30,000 children have not applied. The deadline is Aug. 14, 2019, after which, the money is left on the table.

• READ MORE: Free $1,200 grants going unclaimed by thousands in B.C.

The parents of children between the ages of six and nine when the program was introduced in 2015 were given three years to apply. The program was later extended to include children born in 2006. And the deadline for the kids born in 2007, 2008 and 2009 was last summer, meaning nearly half of those kids didn’t get it.

The deadline to apply now is by the beneficiary’s ninth birthday.

“It’s free money for kids. It takes 15 minutes out of your day to bring in $1,200.”

For information, any parent just needs to contact their financial institution or check out Brown’s Facebook page dedicated to the subject: www.facebook.com/TerryBrowninBC.


@PeeJayAitch
paul.henderson@theprogress.com

Like us on Facebook and follow us on Twitter.

Just Posted

WHAT’S IN STORE IN LANGLEY: Local aroma added to market’s latest Langley craft beer

Send your business happening or story tip to editor@langleyadvancetimes.com

Province holds power over Langley’s pot farming bylaw

The Township will wait for Ministry of Agriculture approval

Community Calendar: Langley groups always looking for volunteers

The community calendar is published in Wednesday’s print edition. Look for the arts calendar Fridays.

150 spoons and counting

Langley Fine Arts teacher Panagiotis Peter Sarganis showcases wooden utensil artwork at Fort Gallery

Fort Langley residents launch passionate debate over demolishing buildings

More than 40 people spoke at a meeting Monday evening

VIDEO: Missing teens named as suspects in three northern B.C. killings

Kam McLeod and Bryer Schmegelsky are wanted in the deaths of Lucas Fowler, Chynna Deese, unknown man

B.C. teacher suspended for professional misconduct

Grade 8 shop teacher admits to use of vulgar language and profanities toward students

Northern B.C. double homicide, suspicious death: A timeline of what we know

Two teens from Port Alberni are now wanted Canada-wide in connection to the three deaths

B.C. wine industry legend Harry McWatters dies

Among his accomplishments, McWatters founded the province’s first estate winery, Sumac Ridge Estate

Provincial health body refuses to release full findings of cancer triage system audit

Information and Privacy Commissioner asked to review redactions

Southern resident killer whale died of blunt trauma, likely from ship

J34 was found more than two years ago near Sechelt, but the necropsy findings have now been released

B.C. rail crossing death highlights risks for people in wheelchairs: watchdog

Transportation Safety Board points to ‘persistent risks faced by persons using assistive devices’

B.C. teens wanted in double homicide, suspicious death spotted in Manitoba

Kam McLeod and Bryer Schmegelsky were thought to have been seen in the Gillam area

VIDEO: Young couple found dead in northern B.C. had been shot, police say

Chynna Noelle Deese of the U.S. and Lucas Robertson Fowler of Australia were found along Highway 97

Most Read