What is an EAP account?
An EAP account is an Education Assistance Payment account. It holds all the income earned on contributions from everyone who has CST Advantage Plan. There is a separate EAP account for each beneficiary group. This means that if your child is eligible to begin their post-secondary education this year, for example, the income earned on contributions from all the other CST plans with students going to school in the same year will be included in that EAP account. The account also includes income earned on contributions from those whose plans were cancelled (this is called Attrition and is part of the Group Plan Benefit).
The money in an EAP account is distributed to students (based on the number of units purchased) as part of their Education Assistance Payments (EAPs) once they have enrolled in eligible studies at a post-secondary institution.
More FAQS
CST Plans
- What are Canadian Scholarship Trust Plans?
- Who can open a Canadian Scholarship Trust Plan?
- What plans does CST currently offer?
- Is CST’s group plan (called CST Advantage Plan) right for me and my family?
- What is attrition? How does it benefit my child?
- What is principal protection?
- What is a unit? Why do you use units?
- What is an EAP?
- What is an EAP account?
- What are Group Plan Benefits?
- What is the minimum amount I need to open an RESP from CST?
- How has the CST Plan changed over the years?
- What if I don’t want to open a Group Plan – can I still save with CST?
- What kind of service can I expect with a CST Plan?
- If I lose my job or miss a payment; will I lose all my money?