EAPs: As easy as 1-2-3!

Grads
It's Graduation Season for high school students and that means parents can collect RESPs for first time!  
For returning post-secondary graduates, it's also time to start looking at collecting your money from your RESP. 
 
Families can now apply for Education Assistance Payments (EAPs) online!
 
To get the details on what you need to know, the CST Blog sat down with Pierre Bertsoulakis, Director of Operations with CST Consultants Inc.

 

Pierre B

Q. What do families need to know now about getting the money they need out of their RESP?

A.  Their money is now available.  The sooner you apply, the sooner we’ll give you the money.  This year, we’re also making it possible for all students that are turning 18 years old in 2015 to receive their money as soon as possible.  In previous years, they would have to wait until their RESP plan reached their maturity date.  That is no longer the case - which is great news!

 

Q. How can families apply?

A.  What we’re most excited about this year is that we are now allowing families to apply for their Education Assistance Payments (what we call EAPs) online by using their customer login on the CST self service website.  It will allow our families to access their funds sooner, quicker and with relative ease.  Having the funds ready for families when they need to pay for their child’s tuition, housing or other expenses is so important to them; we’re thrilled to be able to help them prepare for school this September.

 

Q. What do families need to apply online?

A.  In order to apply for EAPs online, the beneficiary must register.  Just head to the customer login at www.cst.org  If you don’t have a customer login, it only takes a couple of minutes to create one.  Once you’re there you’ll need to enter your school information, upload your proof of enrollment that shows your academic program, the length of the program and provide your banking information, it’s as simple as 1-2-3.

 

Q.  How quickly can beneficiaries get their money when they apply online?

A.  You will get automatic confirmation that we’ve received it, the payment will be processed and your money will be received within 5 business days.

 

Q.  What other ways can families apply?

A.  Mail, fax and email.  We’re here to help and are so excited for all of our families.  It’s such an amazing time of year, it’s really what our company is all about!

Nashila at the Computer

Hard at work.  Nashila is an Account Services Specialist with CST.  We're here to help!