Is there a monetary limit to an EAP under the Self-Determined Option?
If the Beneficiary is registered for at least 3 consecutive weeks and no less than 12 hours per month, the maximum amount that may be released for each 13-week semester of study is $2,500. The Beneficiary must continue studies to qualify for additional payments. If the Beneficiary is registered for full-time studies, the maximum amount of an EAP that can be made to a student as soon as he/she qualifies to receive them is $5,000. After the student has completed 13 consecutive weeks, there is no limit on the amount of EAPs that can be paid if the student continues to qualify to receive them. If there is a 12-month period in which the student was not enrolled in a qualifying educational program for 13 consecutive weeks, the $5,000 maximum applies again. Any subsequent withdrawal within the same year will be subject to a $10.50 processing fee.
