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The Alberta Centennial Education Savings (ACES) grant was introduced in 2005 by the Alberta government to encourage families to begin planning and saving for their children's post-secondary education. The government of Alberta contributes $500 to an RESP for babies born to or adopted by Alberta residents on or after January 1, 2005.
In a presentation to the House of Commons of Canada Standing Committee on Finance in August 2007, the Canadian Association of University Teachers recommended converting the CLB, Canada Education Savings Grant, and Canada Millennium Scholarship Foundation into one annual needs-based grant program for eligible post-secondary students. [4]
The Canada Education Savings Grant program was announced in the 1998 Canadian federal budget tabled on 24 February 1998 by Finance Minister Paul Martin.The program was retroactively started on 1 January 1998 and placed under the administration of Human Resources Development Canada.
The Canada Education Savings Act (French: Loi canadienne sur l’épargne-études, CESA) is an Act of the Parliament of Canada. It is intended to provide financial assistance for post-secondary education savings. The first version of the law was assented to on 15 December 2004. Most sections of the act entered into force on 1 July 2005. [1]
A financial advisor can review a range of saving and investment accounts with you, including 529 plans, Coverdell Education Savings Accounts (ESAs), UTMA/UGMA custodial accounts and even Roth IRAs.
Abbott had designated an education savings account program as one of his priorities for the regular legislative session — a biannual 140-day session beginning in January every odd-numbered year.