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What happens if a student receives an educational assistance payment but then drops out of school?

OUR ANSWER

All the plans offered by Universitas Financial share the same criteria to receive educational assistance payments (EAPs), namely the minimum requirements of the Income Tax Act (Canada).

 

Furthermore, the Canada Revenue Agency imposes an EAP limit during the first 13 weeks in a post-secondary program. If the student pursues full-time studies, the limit is set at $5,000. To withdraw the remaining sums available, the student must continue to qualify by pursuing post-secondary education.  

If you need any further information about EAP withdrawals, please call our Customer Service at 1 877 710-7377.