The IRSSA also proposed an advance payment for former students alive and who were 65 years old and over as of May 30, 2005. The deadline for reception of the advance payment form by IRSRC was December 31, 2006. Following a legal process, including an examination of the IRSSA by the courts of the provinces and territories of Canada, an "opt-out" period occurred. During this time, the former students of residential schools could reject the agreement if they did not agree with its dispositions. This opt-out period ended on August 20, 2007, with about 350 former students opting out. The IRSSA was the largest class action settlement in Canadian history. By December 2012, a total of $1.62billion was paid to 78,750 former students, 98 per cent of the 80,000 who were eligible. In 2014, the IRSSA funds left over from CEPs were offered for educational credits for survivors and their families.