Advanced Education Minister Rob Norris officially launch the Saskatchewan Advantage Grant for Education Savings (SAGES) program and introduced the participating financial institutions.
“I am pleased that the SAGES program is now available through a number of providers,” Norris said. “As well, many other providers will be ready to deliver SAGES in the coming months and this will greatly benefit Saskatchewan families.”
SAGES enables the Government of Saskatchewan to provide a grant of 10 per cent on contributions made since January 1, 2013, into a Registered Education Savings Plan (RESP) to a maximum of $250 per child per year.
To be eligible for SAGES, the following requirements must be met:
•the child is a resident of Saskatchewan when the RESP contribution is made;
•is named as a beneficiary of an eligible RESP; and
•the contribution is made on or before December 31 of the year the child turns 17.
“To support our government’s Plan for Growth, we want to ensure more students have the opportunity to pursue a post-secondary education,” Norris said. “SAGES will help achieve this by encouraging families to plan for their children’s future and promoting the importance of completing post-secondary education.”
SAGES is modeled after the Canada Education Savings Grant, which is delivered on a national level by the Government of Canada. The Government of Canada administers SAGES on behalf of the Government of Saskatchewan.
“We recognize the challenges families face in saving for their children’s education,” said Minister of State (Social Development) Candice Bergen. “That’s why our government is proud to invest in future generations through initiatives such as the Registered Education Savings Plan, the Canada Learning Bond and the Canada Education Savings Grant, all designed to help families save and make post-secondary education a reality for their children. We are pleased to partner with the province of Saskatchewan on SAGES, so that our youth have the skills and training that employers need, ensuring their future success.”
SAGES is now available through: Raymond James Ltd., Global Growth Assets Inc., Global Educational Trust Foundation, Heritage Educational Foundation and Credential Securities Inc. In addition, Canadian Scholarship Trust Foundation, Invesco Canada Ltd., Royal Bank of Canada, BMO, Scotiabank and Concentra Financial, NEI Investments, AGF and other providers will be ready to deliver SAGES in the coming months.
For questions or more information about SAGES, please contact the Government of Canada toll-free at 1-888-276-3624 or by e-mail cesp-p...@hrsdc-rhdcc.gc.ca.