Over 10,000 Registered for Saskatchewan Advantage Grant for Education Savings (SAGES)

Over 10,000 children in Saskatchewan families have received more than $2 million since the Saskatchewan Advantage Grant for Education Savings (SAGES) program was officially launched earlier this year.

“I am pleased that so many families in Saskatchewan are utilizing SAGES to help invest in their children’s future,” Advanced Education Minister Kevin Doherty said. “Our Government wants to ensure that as many students as possible receive the opportunity to participate in and complete their post-secondary education and this program will help them accomplish this.”

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;

•              the child is named as a beneficiary of an eligible RESP;

•              the contribution is made on or before December 31 of the year the child turns 17; and

•              contributions must be made at a participating financial institution.

"With the future of two young boys to consider, it’s extremely important that my husband and I do everything we can to help set them up to be successful adults,” Kristen Anderson of Regina said.  "A big part of that is saving for their post-secondary education through a Registered Education Savings plan and programs such as the SAGES make it that much easier for us to help out our kids where they’ll need it the most.”

“We are extremely pleased to support the Saskatchewan Advantage Grant for Education Savings,” Canadian Scholarship Trust Foundation Vice-President of Regulatory and Corporate Affairs Peter Lewis said.  “This grant will help make post-secondary education more accessible to future generations of Saskatchewan children."

“SAGES is helping to support our government’s Plan for Growth, and I expect a significant increase in the number of families joining the program over the next several months as more financial institutions deliver it,” Doherty said.

A total of 10 financial institutions are now offering SAGES with another nine committed to offering the program in the near future.

More information about SAGES can be found at www.saskatchewan.ca/live/education-learning-and-child-care/saving-for-po....

This press release was issued by the Government of Saskatchewan and the original version can be viewed here.