Stephen Harper promises to increase grants for education savings plans

A re-elected Conservative government would give a boost to some familiestrying to save money for post-secondary education, Tory Leader Stephen Harpersaid Tuesday.

Harper committed to doublingthe federal contribution to additional Canada Education Savings Grantsthe supplementalgrantthat low and middle-income families can apply for once they have taken out a registered education savings plan (RESP).

Currently, the government will contribute 10 cents for every dollar put into an RESPbymiddle-income familiesand 20 cents for every dollar put in by low-income families, if the families have been cleared for additional Canada Education Savings Grants.

• Justin Trudeau promises sweeping reforms to employment insurance system
• Mulcairunveils NDP plan to boost aerospace jobs
• 'Stephen Harper isn't perfect': New Tory message raises eyebrows online

Harper said if hisTory government is re-elected, it would double that, upping the federal contribution from 10 to 20 cents for middle-income families and from 20 to 40 cents for low-income families, on the first $500 put into the planseach year.

"Many families want to give their kids a running start in life," Harpersaid during a campaign stop in Mississauga, Ont.,where the party is hoping to hold on to a number of seats.

"And these are sacrifices a Conservative government would like to support."

According to a release that accompanied Harper's announcement, 2.59 million Canadian children received a Canada Education Savings Grant in 2015. Of those 2.59 million, 900,000 received the additional grant that would be increased by the Tory's election commitment.

• Harper would quit as PM if party loses by a seat
• Harper rejects proposed meeting with political rivals on refugee crisis
• Why hi-tech voting has low priority for Canadian elections

The increasemeans that a family earning up to $44,000 would receive $200 for the first $500 socked away for their child's higher education plan each year.A family earning up to $88,000 would receive $100 on the first $500 each year.

All families currently receive $500 annually from the government for every $2,500 invested in a RESP, an amount the government increased in 2007.

"This is an important but an affordable commitment," the Tory leader said of the pledge, which would cost an estimated$45 million per year beginning in 2017/2018.

Harper is scheduled to spend the day campaigningin southern Ontario for the Oct. 19 election.