For Immediate Release
July 29, 2008

BC Family Receives a $10,000 Boost in RESP Savings

Many parents still do not recognize the benefits of registered education savings plans, according to the Human Resources and Social Development Canada. In fact, only half of those surveyed could accurately describe the fundamentals of a registered education savings plan. Some even confused the plan with other products such as the Canada Education Savings Grant.

Companies like the Global Educational Marketing Corporation (GEMC) have launched an awareness campaign to inform and educate parents on the many benefits of registered education savings plans, including giving away tens of thousands of dollars to help them pay for their children's education.

Jenn Peterson from Pittmeadows , BC knows firsthand the importance of such a campaign. A winner of the Global Day $10,000 Contest, she is thrilled to receive the financial help for her child's future education. “We were ecstatic after we found out that we won,” says Peterson. “The Global Plan is definitely going to help because with the rising tuition costs, parents have to come up with a lot of money for their children's education.”

Just how much money will Jenn have to come up with when her 16-month old daughter is ready to pursue post-secondary education? The national average numbers predict well over six figures for undergraduate and graduate programs.

Since 2002, tuition fees in BC have increased at a higher rate than anywhere else in Canada , doubling on average. The numbers for the graduate and professional programs as well as international student tuition fees are up, with graduate student tuition fees nearly tripling. And to top it off, last year's budget axed funding for student financial assistance programs by $60 million, including a $23 million cut to non-repayable student financial assistance programs. In the coming academic year, the provincial budget projects a $37 million decline in student loan disbursements.

Such alarming numbers are prompting many parents, in BC and elsewhere in the country, to turn to registered education savings plans - like the Global Plan - to help save for their children's education. “What appeals to me most is that with a Global Plan, my daughter can have access to government grants,” reveals Peterson.

The Global Plan, when registered as an RESP, allows tax deferred growth for funding a child's post-secondary education. The Plan can be used to pay for tuition and other expenditures such as books, supplies and accommodations. If a maximum amount is entered into an RESP account each year, the Canada Education Savings Grant (CESG) and the Canada Learning Bond can add up to $9,200 in extra savings. Deposits to the Global Plan can conveniently be made on a monthly, quarterly, semi-annual, annual basis or lump sum. In the event the named beneficiary does not attend a post-secondary institution, the money can either be transferred to another beneficiary or into an RRSP account.

In addition to offering individual plans, the Global Plan also offers group savings options. To learn more about the unique benefits of the Global Plan, go to www.globalfinancial.ca or visit us at trade shows across the country.

Media inquiries, please contact:

Maja Begovic or Rudy Bartolome
Marketing and Communications
Global family of companies
Tel: (416) 741-7377 ext. 3501
Fax: (416) 741-8987
Email: media@globalfinancial.ca