The Alberta government has cancelled a grant program intended to be a way for parents to kick-start saving for their child’s college or university education.
The Alberta Centennial Education Savings Plan, which was created in 2005, was cancelled Wednesday.
Any child born between Jan. 1, 2005. and March 31, 2015. was eligible for $500 as long as that child was signed up for a Registered Education Savings Plan.
Over the span of 11 years, the province would top up its investment with another $300 — $100 payments when the child turned eight, 11 and 14.
Since it started, the government paid out $400,000, padding education funds for more than 280,000 students.