Released on April 4, 2013
The Saskatchewan Advantage Grant for Education Savings (SAGES) program received proclamation today by the Provincial Government.
“I am pleased that the SAGES program has been proclaimed,” Advanced Education Minister Don Morgan said. “SAGES stems from a commitment our government made as part of our 2011 election platform and will provide an incentive for Saskatchewan families to save for their children’s post-secondary education.”
SAGES will enable the Government of Saskatchewan to provide a grant to a Registered Education Savings Plan (RESP) at a rate of 10 per cent of the subscriber’s annual contributions up to a maximum provincial contribution of $250 per year per beneficiary.
“As part of the Saskatchewan Plan for Growth, our government wants to ensure that more students are able to participate in and complete their post-secondary education,” Morgan said. “SAGES is one of the many initiatives we have invested in to make this possible.”
It is expected that SAGES could benefit more than 83,000 Saskatchewan children under the age of 18.
People with new and existing RESPs can apply for SAGES through participating financial Institutions starting fall 2013. Contributions made to eligible RESPs will receive the SAGES grant retroactively to January 1, 2013.
SAGES is modelled after the Canada Education Savings Grant, which is delivered on a national level by Human Resources and Skills Development Canada (HRSDC). The Federal Government, through HRSDC, will be administering SAGES on behalf of the Government of Saskatchewan.
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For more information, contact:
Marieka Andrew
Advanced Education
Regina
Phone: 306-798-3170