Two-thirds of children in Saskatchewan are losing out on important education savings grants

CST Consultants’ Start Early Saskatchewan campaign looking to change that

Regina, SK – April 16, 2013 – An education can lead to a life time of opportunities, but can also lead to a life time of bills. That’s why the Canadian Scholarship Trust Foundation believes every little bit counts when it comes to saving for your child’s future education.

Advanced Education Minister, Don Morgan joined the Canadian Scholarship Trust Foundation’s Vice President of Regulatory and Corporate Affairs, Peter Lewis at the kickoff of the Start Early Saskatchewan campaign this morning. The campaign encourages families to start saving for their children’s education early in life and take advantage of the new Saskatchewan Advantage Grant for Education Savings (SAGES). There are almost 250,000 children in Saskatchewan who can benefit from SAGES. Currently only 83,000 of them have a Registered Education Savings Plan (RESP) set up for them. (Human Resources and Skills Development Canada and Statistics Canada)

“If you can encourage a family to put aside a little money every month for post-secondary education from the time their children are born, that communicates two things to those children in a tangible way: higher education is valuable, and they are expected to go,” said Lewis. “As a parent, you move from just talking about the value of education, to actually doing something to make it happen.”

“As a mom of two young boys it’s extremely important for me to do what I can to make it easier on them when it’s time for them to go on to university or college, “said Kristin Anderson. “Both my family, and my husband’s family helped pay for our own educations, I’d like to the same for my kids.”

The Start Early Saskatchewan campaign can be found at http://www.cst.org/startearlysaskatchewan.

Parents can take part by logging on to the campaign website to learn more about the new SAGES grant, get regular updates provided to them about SAGES, sign our petition expressing their gratitude to the Premier and Advanced Education Minister and enter the Start Early Saskatchewan contest by telling us why saving for their child’s education is important to them. Submissions can be in writing, video or creative photo. Their amazing stories will then be shared across the province so that families across the province can connect with one another.

SAGES will provide children under the age of 18 with a grant of 10 per cent of their annual contributions to a RESP, up to $250 per year, per beneficiary with a lifetime maximum of $4500. The federal Canada Education Savings Grant provides 20 per cent of the first $2500 contributed annually to a lifetime maximum of $7200. Combined, these grants can make a big difference for Saskatchewan families saving for their child’s post secondary education. Applications for the new grant are expected in the fall.

Edyta McKay – Manager, Corporate Communications
CST Consultants Inc.
On Behalf of P. Lewis - Canadian Scholarship Trust Foundation
Mobile – 416 602-2849
Edyta.McKay@cst.org

About CST

The Canadian Scholarship Trust Foundation is a non-profit organization that has been helping families save for post-secondary education for over fifty years. As a wholly-owned subsidiary of the Foundation, C.S.T. Consultants Inc. (CSTC) is the distributor and manager of the Canadian Scholarship Trust Plans. Focused exclusively on growing and protecting its planholders' savings, CSTC currently manages $3.8 billion in assets for over 280,000 Canadian families. CSTC boasts a sales force of 640 located across the country. The Canadian Scholarship Trust Foundation offers its own awards for academic achievement and community engagement to those students in their Group Plans who are pursuing graduate studies. For more information about RESPs at CST go to www.cst.org or follow us on twitter @cstconsultants.