I have two children in the same plan (Family Plan). What happens if only one pursues post-secondary education?
Under a Family Plan, the accumulated savings plus investment earnings and CESG may be shared with any other beneficiaries, up to allowable maximums. In this case, the CESG attributed to the child who will not pursue post-secondary education can be directed to your other child as Education Assistance Payments (EAPs) when they enroll in a post-secondary school. This may cause the total CESG for that child to exceed the maximum of $7,200. If that happens, any excess CESG over $7,200 must be returned to the government, but the income earned on the excess CESG remains in the plan.
