How do I collect the money in my plan? What is included in these payments?

When your child is enrolled in a post-secondary school, you can access the money in your CST RESP. This means that the funds in your RESP can be withdrawn and the child can use them to pay for school. CST will always send you a reminder email to let you know when it's time to access your funds. The payments from your CST RESP will come in two parts:
  • Principal - when the child is ready to go to school, you can withdraw your contributions (minus sales charges and fees). This is the case whether you have CST Advantage Plan, an Individual Savings Plan or a Family Savings Plan.
  • Education Assistance Payments (EAPs) - an EAP is a payment that the child receives from their RESP when they officially enroll in their post-secondary program. If you are enrolled in the CST Advantage Plan, EAPs are paid out in four installments (once each school year) and are made up of the following:
    • The child’s proportionate share of the net income earned on the contributions of all beneficiaries in the same year of eligibility
    • Government grants and any income earned on the grants that the child has received
    • Additional benefits only available in a group plan (including the sales charge refund, if applicable, and a group plan bonus).

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