Financial Entitlements
Financial Entitlements Programs
If you are a child/youth in care, or supported through a Voluntary Youth Services Agreement (VYSA) program or the Ready Set Go (RSG) Program, you are encouraged to review the financial programs below which provide eligible child/youth with funds to support your post-secondary education and transition to independence.
If you are working with our Agency and have questions about accessing your financial entitlements, please speak to your Worker.
For more information about financial support for children and youth involved in child welfare please visit the Ministry of Children, Community and Social Services website.
If you are a child or youth, between 0 to 18 years old and working with our Agency, you might be eligible for the RESP program. These funds can be used to pay for expenses related to post-secondary education, such as trade school, college, university and apprenticeship programs.
To contribute funds
- Our Agency must receive your Children Special Allowance; and
- You must be in Extended Society Care, or must be in either Interim Society Care or Customary Care for 12 consecutive months; and
- You must have a valid SIN number issued by the Canada Revenue Agency.
To withdraw funds
- You must be enrolled in a full time or part time government approved post-secondary education or vocational training program at the time of withdrawal.
Speak to your Worker if you have more questions or visit the Government of Canada’s RESP page.
If you are a youth between 15 and 17 years old, who entered into a VYSA, you might be eligible for the VYSA Savings program. This is in place of a Registered Education Savings Plan (RESP). The VYSA Savings funds can be used to help support your transition to independence after VYSA ends.
If you plan on attending a post-secondary institution or a trades program, you have the option to request an RESP account instead of a VYSA Savings from your Worker. Note RESP program requirements apply.
To contribute funds
- Our Agency must receive your Children Special Allowance; and
- You must have entered into a VYSA.
To withdraw funds
- You must have acquired financial literacy and an active bank account; and
- Your VYSA must have ended in order for you to receive the VYSA savings.
Speak to your Worker if you have more questions or visit the Ministry of Children, Community and Social Services page.
If you are between 15 and 17 years old and a youth in care or youth who entered into a Voluntary Youth Services Agreement (VYSA), you might be eligible for the OCBE Saving program. These savings can support your transition into independence when leaving care or when your VYSA ends.
To contribute funds
- Our Agency must have received your Children Special Allowance at the ages of 15,16 and/or 17 years of age; and
- You must have been in Society Care or in Customary Care for 12 consecutive months, or maintained through a VYSA.
To withdraw funds
- You must have passed the Financial Literacy Course and have an active personal bank account; and
- Your Society Care, Customary Care or VYSA must have ended in order for you to receive the OCBE Savings.
Speak to your Worker if you have more questions or visit the Government of Canada’s Ontario Child Benefit Equivalent (OCBE) page to learn more.
