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What is the Educational Assistance Payment (EAP)?

The Educational Assistance Payment is the earned income (growth) on the investments you put into your RESP as well as all government grants received.

To access EAP, a beneficiary must be enrolled full- or part-time in a qualifying educational program. The student will be taxed on this income, but since he or she is usually in such a low tax bracket, little or no tax ends up being payable.

The following rules apply for students receiving EAP:

Full-time students:

  • Must be enrolled in a qualifying educational program. This includes post-secondary educational institutions and distance education courses provided by those institutions.
  • Can receive $5,000 for the first 13 consecutive weeks of full-time study in a qualifying educational program. After those 13 consecutive weeks, there is no limit on the amount of EAPs a qualifying student can receive.

Part-time students:

  • Must be at least 16 years old and enrolled in a specified educational program.
  • Can receive $2,500 following a 13-week period of enrollment in a specified educational program.

RESPs are a valuable education savings vehicle, but some of the rules are complicated. For help setting up or tapping into an RESP, speak with an ATB Investor Services advisor​.​​​

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