Author Archives: BetCrooks

Free Education Money for Low Income Canadian Families’ Children: Apply Today

Posted on by

Some people reading this article may be asking themselves how many low income families read financial websites? I suspect some of them do. You can have a low family income for many reasons: divorce, single parenthood, disability, layoffs, if you start a family while still attending school, if you’re new to Canada, and the list goes on. These families want to ensure their children have a chance to attend post-secondary education, too. And the Canadian federal government is willing to provide a small amount to help it happen. Any free money for education is good money. Low income families do have to apply for it however.

What is the Canada Learning Bond?

The federal government will deposit $500 into a RESP set up for a child by the child’s parents. They will also pay $25 to help defray any costs. (For example, a low income single parent family might have to pay for a babysitter while completing the application for a RESP.)

Each year the family is low income, the government will deposit another $100 into the RESP until the child turns 15. This makes the maximum government contribution $2000.

If the family has more than one child, each child qualifies. So each child who meets the rules gets the $500 bond and the annual $100 bonds deposited into their RESP.

What Does It Cost the Parents?

Parents do not have to contribute any of their own money to the RESP to get the Canada Learning Bond.

Most banks and many credit unions and trust companies offer no-fee RESPs. There is no charge, for example, to have a RESP at BMO if the money is invested in the daily interest savings account or in GICs.

Which Children Qualify?

The child has to be born after December 31, 2003. (Some people like me think this isn’t very fair. If it bothers you, please write your MP and complain.)

Who Decides If a Family is Low Income?

The Canada Learning Bond is paid to families who qualify for the National Child Benefit Supplement. For details, see the Service Canada page.

Why This Bond is a Great Idea

Everyone deserves a chance to continue their education. While this Bond is not a huge amount of money it can help. Seeing a 4-digit amount saved for education can also encourage further saving.

Our school sends home a notice about this bond each year. For many families who attend this school it’s valuable and important information. I hope other schools do the same.

Because the government only provides the money to those who apply for it, it’s important to get the word out to those who can benefit from it. If you know someone who might be eligible for this bond, please send them the link to the Service Canada website given in the Related Reading section.

Related Reading
Further information on the Canada Learning Bond on the Service Canada website at http://www.servicecanada.gc.ca/eng/goc/clb.shtml

Join In
Please share your experiences with the Canada Learning Bond with a comment.

Should We Legislate an End to Unpaid Internships?

Posted on by

Today I was speaking to a lovely woman that we meet every few years and catching up on her news sort of like in the old play Same Time Next Year. I asked how her adult children were doing and what I heard made me angry. The discussion left me wondering should we legislate an end to unpaid internships?

Unpaid Internships Used to be Common in Publishing, Theatre, and Broadcasting

Back in the early Cretaceous when I went to school, unpaid internships were unusual but not unheard of. Certain industries were prone to them. Publishing companies, including those producing books, magazines and newspapers, often required prospective editors and staff writers to start by working for free. Their jobs were often menial at first, involving making coffee and filing reports. Gradually they were assigned writing and editing jobs and eventually if the stars aligned they were hired as cub reporters and editorial assistants. These publishers were often barely solvent and couldn’t afford to hire many new staff.

Theatre was another area where the companies rarely made money so to get a start many aspiring actors, stage hands, and directors had to serve time in unpaid positions. Radio, TV and presumably internet broadcasters also worked on thin margins. Some used it as an excuse to weed out potential new hires by making them “pay their dues” by working for free until an opening could be found.

Are Unpaid Internships Now Just Slave Labour Practices?

Something seems to have changed since those days when the dinosaurs were dying off. Now it seems unpaid internships are the norm in many fields and industries.

Why?

The woman I was speaking with was explaining her child had completed her degree and was ready to start working as a music therapist. The position she wanted, however, required her to have 1000 hours of unpaid internship work in the field.

One THOUSAND  hours. That’s about 6 months of working with no pay.

How Can Someone Pay the Rent While Working for No Pay?

Her child agreed to the terms required because she loves the work and wants very much to succeed. She had to pay her rent, buy her food and pay her transit to get to her unpaid job, not just for a week or two, but for months.

The apartment she could afford with no pay required her to spend 3 hours a day commuting. She had to take 2 buses, a train, and walk 1 km each time she went to work or came home. The hours demanded of her were excessive, often up to 12 hours per day. That left no time to hold a part-time job except on weekends to pay her living costs.

How is this reasonable? How is this right?

What’s the Solution to this Problem?

This is not the first time I’ve heard this kind of personal story of an unpaid internship. It’s left me wondering: Is it time to crack down on these practices? Should we be legislating a maximum length of time that people can be required to work unpaid?

I don’t have the answers but I certainly have lots of questions.

Related Reading

Join In
Have you had to work as an unpaid intern? Has someone in your family? Please share your experiences with a comment.