Written By: Matthew Rodrigopulle
The National Basketball Youth Mentorship Program Foundation (NBYMP Foundation) announced on Tuesday that it has partnered with Knowledge First Financial to provide youth with Registered Education Savings Plans.
The NBYMP Foundation is a registered charity in Canada that provides youth with free academic tutoring services from qualified teachers and free academic grants and funding for their current and future schooling. In partnership with professional athletes, youth sporting organizations and various colleges across Canada, the NBYMP Foundation strives to help youth meet their academic demands.
Knowledge First Financial is Canada’s largest RESP (Registered Education Savings Plan) provider, with a sole focus on education savings. An RESP is a tax-advantaged account designed to help Canadian’s save for a child’s post-secondary education faster. The NBYMP Foundation’s partnership with the group will help advance education for youth in local communities. This partnership will provide added financial support for children and parents through the help of RESP’s and could help to provide parents with grants and funding towards their RESP’s, totalling up to $9200 or more.
“We couldn’t be more excited for this partnership with Sam and Knowledge First Financial,” said Kevin Wilson, founder of the NBYMP. “Both of our organizations truly prioritize academic advancement for youth and we genuinely care for the families that we work with. In partnership with the largest RESP provider in Canada, we plan to provide educational resources and information to our parents and families on a national scale.”
There are many great benefits to signing up for an RESP. Knowledge First Financial offers plenty of flexibility, where anyone can open an RESP account for a child including parents, guardians, grandparents and even friends. There are also no contribution requirements with an RESP. Some other benefits include up to $9200 in free government grants that every child is entitled to, as well as tax-sheltered growth.
“RESP’s play a vital role in providing access to post-secondary education by ensuring children have the savings to pursue their academic goals,” said Sam Bhachu of Knowledge First FInancial. “The grants available with an RESP can be the difference between choosing an academic institution of your choice or settling for a secondary option.”
Bhachu says the partnership aims to maximize the impactful initiatives the NBYMP Foundation has in place to advance education through funding and scholarships. He says the RESP’s will enable the NBYMP Foundation’s scholarship to be put in a safe place where education savings can continue to grow further.
Bhachu will also be serving as the RESP Specialist for the NBYMP Foundation through Knowledge First Financial.
Both NBYMP Foundation and Knowledge First Financial share the goal to assist parents in getting government grants to add to their RESP accounts.
You can learn more about RESP’s by contacting Sam Bhachu ([email protected]) or by contacting the NBYMP Foundation ([email protected]). In addition, be sure to visit Sam’s Instagram page (@SaveForEducation) for useful tips and information about RESPs.