The Self-Determined Option

The Self-Determined Option is designed specifically for Beneficiaries enrolled in a post-secondary program shorter than two years.

You receive the principal

With the Self-Determined Option, you, the Subscriber, may withdraw your principal any time after the Maturity Date, less applicable fees.

Then, as long as your Beneficiary is in attendance at a post-secondary program offered by a recognized institution, he or she is eligible to receive Self-Determined Payments.

Your Beneficiary receives Self-Determined Payments

Self-Determined Payments are made up of all interest which has accrued on your Heritage Plan principal, all CESG, CLB and ACES grants, where applicable, and the interest earned on those grants. Self-Determined Payments can be applied to any post-secondary education costs, including tuition, books, residence, and other legitimate education expenses.

Qualifying programs

Qualifying programs must last at least three consecutive weeks and require a student to spend no less than 12 hours per month on courses.  If the Beneficiary is studying outside of Canada, the program must be at least 13 consecutive weeks in length. 

Please note: Your withdrawal is limited to $5,000 in a Self-Determined Qualifying program if the Beneficiary has not attended school for at least 10 hours per week for at least 13 consecutive weeks in a 12-month period. Education Assistance Payments to qualified students in subsequent years will be based on the total value of their plan.