12/03/2012 11:20 EST | Updated 02/02/2013 05:12 EST

Saskatchewan government announces education grant program

SASKATOON - Saskatchewan is giving a boost to families who are saving for their children's post-secondary education.

Advanced Education Minister Don Morgan says legislation was passed Monday for the Saskatchewan Advantage Grant for Education Savings program.

The legislation allows the province to provide a grant to a Registered Education Savings Plan 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.

That's on top of the 20 per cent federal grant.

Once proclaimed, the program could benefit more than 83,000 children under the age of 18 through contributions made to their RESP accounts each year.