How to Get Free Money to Save for Your Child's College Education
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The most popular form of the education savings is the registered education savings plan known as an Resp. Although an Resp can be started at any time, parents are advised to start an Resp when the child is born. Qualifying families who start the plan early will receive a $500 government bond in the first year to invest towards the program. Once the plan is started, the Government of Canada will continue to contribute by matching every dollar invested anywhere from 20 up to 40%.

A good strategy for investing into an resp is to invest your monthly government child tax benefit. So for example, if your family receives $50/month per child in child tax benefit and if you invest the benefit into an Resp, not only will your Resp earn interest from the investment firm but it will also be topped up with the 20-40% contribution from the government. Therefore, a $50/month investment earning 5% annually will easily gross $45,000 at maturity (18 year plan). And the best part is you will be using free money from the government (Child Tax Benefit) to earn free government grants on the investment. So take advantage of the free government grants by opening an Resp and secure your child’s future.

About The Author Angela McKenzie has an online program aimed at helping parents learn more about the Free Government Grants available and saving for future education costs. To learn more about how you can take advantage of free Canadian grants to start an education plan for your child visit http://www.respresourcecenter.org.

How to Get Free Money to Save for Your Child's College Education
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Additional Resources

category - Education Grants

Education Grants for Students Interested in Teaching Careers
Teacher Education Assistance for College and Higher Education Grants (TEACH Grants) assist those undergraduate and graduate postsecondary students that agree to teach specific and specific subjects that are in high need at schools that primarily serve disadvantaged populations.

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Financing Your Education with Federal Supplemental Educational Opportunity Grants
Federal Supplemental Educational Opportunity Grants assist those undergraduate students enrolled in a postsecondary education that cannot afford their educational expenses without financial assistance. The grant is in place to help them meet their educational expenses to the successful completion of a postsecondary degree.

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Pell Grants - Help with Financing Your Education
The Federal Pell Grant Program is overseen by the Department of Education and falls under the Federal Student Aid Information Center. In order to be eligible students must be enrolled in eligible schools that may be public or private nonprofit institutions of higher education.

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Museum Grants for African American History and Culture Program
The Institute of Museum and Library Services has established a funding opportunity to support the Museum Grants for African American History and Culture Program wherein they intend to provide the African American museum staff with added knowledge and ability in all the areas of management, operations, programming, collections care, and other museum skills.

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