Overview
The **Alberta education savings grant** (AESG) was a provincial government initiative designed to help families save for their children’s post-secondary education. This grant provided additional funds to Registered Education Savings Plans (RESPs) for eligible Alberta residents, complementing federal contributions.
The AESG aimed to encourage early savings for education, recognizing the rising costs of post-secondary studies. While the program is no longer active, understanding its structure and impact can provide valuable context for current education savings strategies.
- Purpose: The AESG was established to encourage families in Alberta to save for their children’s post-secondary education by providing additional financial support to RESPs.
- Eligibility: To qualify, beneficiaries needed to be residents of Alberta, and contributions had to be made to a Registered Education Savings Plan on their behalf.
- Grant Amount: The grant provided a specific amount per eligible child, often tied to the contributions made into their RESP, up to a lifetime maximum.
What Was the Alberta Centennial Education Savings Grant?
If you have a child that is 10 years old or younger (born in Alberta between January 1, 2005 and March 31, 2015) they are eligible for a one-time $500 grant from the provincial government. However, you only have until July 31, 2015 to submit the form and apply for this grant before it ends.
On March 26, 2015, the Government of Alberta announced the closure of the Alberta Centennial Education Savings Plan (ACES).
- March 31, 2015 – The last eligibility date for the ACES plan grants. This means that children born after March 31, 2015 will not be eligible for the $500 grant. In addition, children who turn 8, 11 or 14 years after March 31, 2015, will not be eligible for the subsequent $100 grants.
- July 31, 2015 – The last day a subscriber can submit a completed ACES plan grant application form.
For further information:Â http://eae.alberta.ca/funding/aces.aspx
If you would like more information or have any questions, feel free to contact us at 780.466.6204, or click here to send us an email.
Thanks to Chris Turnbull of The Index House for providing this article.
The Index House is a division of Polaris Financial Inc.