Short Title

1 These Regulations may be cited as the Canada Student Financial Assistance Regulations.

Interpretation

• 2 (1) In the Act and these Regulations,

  borrower

  borrower means a person to whom a loan is made pursuant to the Act; (emprunteur)

  consolidated student loan agreement

  consolidated student loan agreement means a consolidated risk-shared loan agreement or a consolidated direct loan agreement, except in section 5 of the Act where it means a consolidated risk-shared loan agreement only; (contrat de prêt consolidé)

  course

  course means formal instruction or training that constitutes, or is determined by a designated educational institution to be equivalent to, an essential element of a program of studies at a post-secondary school level at that institution, but does not include any formal instruction or practical training required for acceptance in a professional corporation or for the practice of any trade or profession unless that formal instruction or practical training is necessary to obtain a degree, certificate or diploma from that designated educational institution; (cours)

  family income

  family income means the aggregate income — including income from employment, social programs, investments and monetary gifts — of

  • (a) the borrower or student and their spouse or common-law partner, in the case of a borrower or student who is married or has a common-law partner,

  • (b) the parents of the student, in the case of a full-time student who

    • (i) has never been married or in a common-law relationship,

    • (ii) has never had children,

    • (iii) is pursuing education at a post-secondary level within four years of leaving secondary school,

    • (iv) has not been in the labour force for more than two periods of 12 consecutive months since leaving secondary school, and

    • (v) is not applying for assistance under Part V or VII; and

  • (c) the borrower or student, in any other case; (revenu familial)

  financial assistance

  financial assistance means any form of financial aid provided under the Act, including student loans; (aide financière)

  financial institution

  financial institution means

  • (a) a bank or authorized foreign bank within the meaning of the Bank Act,

  • (b) a credit union, caisse populaire or other cooperative credit society,

  • (c) a company within the meaning of the Trust and Loans Company Act, or

  • (d) Canada Post Corporation; (institution financière)

  full-time student

  full-time student means a person

  • (a) who, during a confirmed period within a period of studies, is enrolled in courses that constitute

    • (i) at least 40 per cent and less than 60 per cent of a course load recognized by the designated educational institution as constituting a full course load, in the case of a person who has a permanent disability and elects to be considered as a full-time student, or

    • (ii) at least 60 per cent of a course load recognized by the designated educational institution as constituting a full-time course load, in any other case,

  • (b) whose primary occupation during the confirmed periods within that period of studies is the pursuit of studies in those courses, and

  • (c) who meets the requirements of subsection 5(1) or 7(1) or section 33, as the case may be. (étudiant à temps plein)

  loan year

  loan year means the period commencing on August 1 in any year and ending on July 31 in the following year; (année de prêt)

  part-time student

  part-time student means a person

  • (a) who, during a confirmed period within a period of studies, is enrolled in courses that constitute at least 20 per cent and less than 60 per cent of a course load recognized by the designated educational institution as constituting a full course load and, where that person has a permanent disability and is enrolled in courses that constitute at least 40 per cent of such a full course load, elects to be considered as a part-time student, and

  • (b) who complies with the requirements of subsection 12(1), 12.1(1) or 12.2(1) or section 33, as the case may be; (étudiant à temps partiel)

  period of studies

  period of studies means the length of time that a designated educational institution considers to be a normal school year for the program of studies in which the qualifying student or the borrower is enrolled and that, where the period between the day on which that person ceased to be a full-time student pursuant to section 8 or a part-time student pursuant to section 12.3, as the case may be, and the first day of the first confirmed period of the current school year is less than six months, includes that period; (période d’études)

  permanent disability

  permanent disability means a functional limitation caused by a physical or mental impairment that restricts the ability of a person to perform the daily activities necessary to participate in studies at a post-secondary school level or the labour force and is expected to remain with the person for the person’s expected life; (invalidité permanente)

  post-secondary school level

  post-secondary school level means education at a university or college level, including education of a technical or vocational nature; (niveau postsecondaire)

  program of studies

  program of studies means the series of periods of studies

  • (a) that is considered by the designated educational institution to be necessary to obtain a degree, certificate or diploma,

  • (b) that is recognized by the appropriate authority which designated that institution under the Act or the Canada Student Loans Act, or any successor to that authority, and

  • (c) the aggregate of which is at least 12 weeks within a period of 15 consecutive weeks; (programme d’études)

  severe permanent disability

  severe permanent disability means a functional limitation caused by a physical or mental impairment that prevents a borrower from performing the daily activities necessary to participate in studies at a post-secondary school level and in the labour force and is expected to remain with the person for their expected life; (invalidité grave et permanente)

  student loan

  student loan means a risk-shared loan or a direct loan except

  • (a) in sections 5, 10 and 11 and paragraph 15(l) of the Act, where it means a risk-shared loan only,

  • (b) in subsection 14(2) of the Act, where it means a guaranteed student loan. (prêt d’études)

  • (c) [Repealed, SOR/2012-41, s. 1]

  student loan agreement

  student loan agreement means a contract entered into before August 1, 2000 between a qualifying student and a lender pursuant to subparagraph 12(1)(d)(i) or 12.1(1)(e)(i) and

  • (a) that is in the prescribed form, and

  • (b) that includes the student’s social insurance number. (contrat de prêt simple)

• (2) In these Regulations,

  Act

  Act means the Canada Student Financial Assistance Act; (Loi)

  common-law partner

  common-law partner in relation to a borrower, means a person who is cohabiting with a borrower in a conjugal relationship, having so cohabited for a period of at least one year; (conjoint de fait)

  confirmation of enrolment

  confirmation of enrolment means a prescribed form, which may or may not form part of a certificate of eligibility, and where it does not, includes the qualifying student’s or borrower’s social insurance number; (confirmation d’inscription)

  confirmed period

  confirmed period means a period of studies, or part thereof, which is at least six consecutive weeks and which

  • (a) in the case of a confirmation of enrolment forming part of a certificate of eligibility, begins on the first day of the month specified by the designated educational institution and ends on the last day of the last month of the period of studies specified by the appropriate authority, and

  • (b) in the case of a confirmation of enrolment not forming part of a certificate of eligibility, begins on the first day of the month specified by, and ends on the last day of the other month specified by, the designated educational institution; (période confirmée)

  consolidated direct loan agreement

  consolidated direct loan agreement means a contract in the prescribed form that is entered into between the Minister and a borrower who has ceased to be a full-time student pursuant to section 8 and who is indebted to the Minister under any full-time direct loan agreement and that includes the borrower’s social insurance number; (contrat de prêt direct consolidé)

  consolidated guaranteed student loan agreement

  consolidated guaranteed student loan agreement has the same meaning as subsection 2(2) of the Canada Student Loans Regulations; (contrat de prêt garanti consolidé)

  consolidated risk-shared loan agreement

  consolidated risk-shared loan agreement means a contract that is entered into between a borrower who has ceased to be a full-time student pursuant to section 8 and the lender to whom the borrower is indebted under any full-time risk-shared loan agreement and

  • (a) that is in the prescribed form,

  • (b) that includes the borrower’s social insurance number,

  • (c) in which the principal amount is the aggregate of the outstanding principal amounts under those agreements,

  • (d) that replaces those agreements, and

  • (e) that includes the terms and conditions of repayment of the principal amount of the loan and the interest payable thereunder; (contrat de prêt à risque partagé consolidé)

  direct loan

  direct loan means a debt obligation incurred by a qualifying student on entering into a direct loan agreement and which is owed to Her Majesty in right of Canada, as represented by the Minister; (prêt direct)

  direct loan agreement

  direct loan agreement means a full-time direct loan agreement, a direct student loan agreement or a consolidated direct loan agreement; (contrat de prêt direct)

  direct student loan agreement

  direct student loan agreement means a contract entered into after July 31, 2000 between a qualifying student and the Minister pursuant to subparagraph 12(1)(d)(ii) or 12.1(1)(e)(ii) and that

  • (a) is in the prescribed form, and

  • (b) includes the student’s social insurance number; (contrat de prêt direct simple)

  full-time direct loan agreement

  full-time direct loan agreement means a contract that is entered into after July 31, 2000 between a qualifying student and the Minister under paragraph 5(1)(d) and

  • (a) that is in the prescribed form; and

  • (b) that includes the student’s social insurance number. (contrat de prêt direct à temps plein)

  full-time loan agreement

  full-time loan agreement[Repealed, SOR/2000-290, s. 1]

  full-time risk-shared loan agreement

  full-time risk-shared loan agreement means a contract that was entered into before August 1, 2000 between a qualifying student and a lender under these Regulations. (contrat de prêt à risque partagé à temps plein)

  guaranteed student loan

  guaranteed student loan has the same meaning as under the Canada Student Loans Act; (prêt garanti)

  guaranteed student loan agreement

  guaranteed student loan agreement has the same meaning as under the Canada Student Loans Regulations; (contrat de prêt garanti)

  loan agreement

  loan agreement means a risk-shared loan agreement or a direct loan agreement; (contrat de prêt)

  officer of the designated educational institution

  officer of the designated educational institution means a person authorized by a designated educational institution to sign confirmations of enrolment on behalf of the institution and who

  • (a) is the registrar of that institution or a person authorized by the registrar to act on behalf of the registrar,

  • (b) is a student aid officer in that institution, or

  • (c) has the de facto capacity of the registrar of or a student aid officer in that institution; (agent de l’établissement agréé)

  participating province

  participating province means a province other than one that has chosen not to participate in the financial assistance plan in accordance with section 14 of the Act; (province participante)

  part-time guaranteed loan agreement

  part-time guaranteed loan agreement has the same meaning as in subsection 2(2) of the Canada Student Loans Regulations; (contrat de prêt garanti à temps partiel)

  part-time loan agreement

  part-time loan agreement[Repealed, SOR/2000-290, s. 1]

  provincial loan

  provincial loan means a loan issued by a province for the purpose of assisting a student in the pursuit of studies at a designated educational institution. (prêt provincial)

  risk-shared loan

  risk-shared loan means a debt obligation incurred by a qualifying student on entering into a risk-shared loan agreement and which is owed to a lender or Her Majesty in right of Canada, as represented by the Minister; (prêt à risque partagé)

  risk-shared loan agreement

  risk-shared loan agreement means a full-time risk-shared loan agreement, a student loan agreement or a consolidated risk-shared loan agreement and includes agreements entered into under subsection 14(3) of the Regulations, whatever the date they are entered into; (contrat de prêt à risque partagé)

  spouse

  spouse[Repealed, SOR/2001-230, s. 1]

• (3) [Repealed, SOR/2000-290, s. 1]

Certificate of Eligibility

3 A certificate of eligibility issued under subsection 12(1) of the Act shall specify whether the qualifying student named in that certificate qualifies for the issuance of that certificate under the Act and these Regulations as a full-time student or part-time student.

4 [Repealed, SOR/2011-96, s. 2]

PART IStudent Loans Made to Full-Time Students

Obtaining a Direct Loan

• 5 (1) Subject to section 15, the Minister may make a direct loan to a qualifying student who is enrolled as a full-time student at a designated educational institution and who

  • (a) is issued, or in respect of whom is issued, a certificate of eligibility;

  • (b) within 30 days after obtaining confirmation of their enrolment from an officer of the designated educational institution but no later than the last day of the confirmed period, submits the confirmation of enrolment

    • (i) to the Minister unless they are notified in writing by the appropriate authority that the confirmation of enrolment is to be submitted to the Minister by the designated educational institution, and

    • (ii) to the branch of the lender to which they are indebted under any risk-shared loan agreement or guaranteed student loan agreement;

  • (c) authorizes the designated educational institution to forward to the Minister any refund of fees that have been paid with the proceeds of a direct loan authorized by the certificate of eligibility for credit against any direct loans of the student;

  • (d) has entered into a full-time direct loan agreement for the period of studies referred to in the certificate of eligibility;

  • (e) if more than six months have elapsed between the day on which the student ceased to be a full-time student under section 8 and the first day of the current confirmed period,

    • (i) if they are indebted under any full-time risk-shared loan agreement or guaranteed student loan agreement entered into as a full-time student, pays to the lender any interest accrued under those agreements to the day before the first day of the confirmed period, and

    • (ii) if they are indebted under any full-time direct loan agreement, pays to the Minister any interest accrued under that agreement to the day before the first day of the confirmed period;

  • (f) if the confirmation of enrolment is submitted to the Minister more than six months after the day they ceased to be a full-time student under section 8 but before the last day of the confirmed period that started within the six-month period,

    • (i) if they are indebted under any full-time risk-shared loan agreement or guaranteed student loan agreement entered into as a full-time student, either

      • (A) pays to the lender the interest accrued under those agreements from the day after they ceased to be a full-time student to the day before the day on which the confirmation of enrolment is submitted to the Minister, or

      • (B) enters into a consolidated risk-shared loan agreement or a consolidated guaranteed student loan agreement in which the unpaid accrued interest referred to in clause (A) is added to the principal amount,

    • (ii) if they are indebted under any full-time direct loan agreement, either

      • (A) pays to the Minister the interest accrued under those agreements from the day after they ceased to be a full-time student to the day before the day on which the confirmation of enrolment is submitted to the Minister, or

      • (B) directs the addition of the unpaid accrued interest referred to in clause (A) to the outstanding principal.

• (2) A qualifying student who has no outstanding student loan or guaranteed student loan made to them as a full-time student and who meets the conditions referred to in paragraphs (1)(a) to (d) becomes a full-time student on the later of the day on which the confirmation of enrolment is received by the Minister and the day on which they enter into the full-time direct loan agreement.

• (3) A qualifying student who has an outstanding student loan or guaranteed student loan made to them as a full-time student and who meets the conditions referred to in paragraphs (1)(a) to (d)

  • (a) in the case where they meet the requirements of paragraph (1)(e) or (f), again become a full-time student on the day on which they meet those requirements; or

  • (b) in any other case, continues to be a full-time student beginning on the day following the day on which they would otherwise have ceased to be a full-time student.

6 [Repealed, SOR/2011-96, s. 3]

Continuation and Reinstatement

• 7 (1) Subject to section 15, a borrower shall, in order to continue to be or again become a full-time student,

  • (a) within 30 days after obtaining confirmation of their enrolment from an officer of the designated educational institution at which they are enrolled but before the end of the confirmed period, submits the confirmation of enrolment

    • (i) to the Minister, if they are indebted under a direct loan agreement, and

    • (ii) to the branch of the lender to which they are indebted under a risk-shared loan agreement or guaranteed student loan agreement;

  • (b) when more than six months have elapsed between the day on which they ceased to be a full-time student under section 8 and the first day of the current confirmed period,

    • (i) pay, if they are indebted under any full-time risk-shared loan agreement or guaranteed student loan agreement entered into as a full-time student, to the lender any interest accrued under those agreements to the day before the first day of the confirmed period, and

    • (ii) pay, if they are indebted under any full-time direct loan agreement, to the Minister any interest accrued under that agreement to the day before the first day of the confirmed period;

  • (c) if the confirmation of enrolment is submitted more than six months after the day that they ceased to be a full-time student under section 8 but before the last day of the confirmed period that started within the six-month period and

    • (i) if they are indebted under any full-time risk-shared loan agreement or guaranteed student loan agreement that was entered into as a full-time student, either

      • (A) pay to the lender the interest accrued under those agreements from the day after they ceased to be a full-time student, or

      • (B) enter into a consolidated risk-shared loan agreement or a consolidated guaranteed student loan agreement in which the unpaid accrued interest referred to in clause (A) is added to the principal amount; or

    • (ii) if they are indebted under any full-time direct loan agreement, either

      • (A) pay to the Minister the interest accrued under that agreement from the day after they ceased to be a full-time student, or

      • (B) directs the addition of the unpaid accrued interest referred to in clause (A) to the outstanding principal.

• (2) A borrower who meets the conditions referred to in paragraph (1)(a)

  • (a) in the case where they meet the conditions of paragraph (1)(b) or (c), again becomes a full-time student on the day on which they meet those conditions; or

  • (b) in any other case, continues to be a full-time student beginning on the day following the day on which they would otherwise have ceased to be a full-time student.

Ceasing to be a Full-time Student

• 8 (1) Subject to paragraphs 5(3)(b) and 7(2)(b), the borrower ceases to be a full-time student on the earliest of

  • (a) the last day of the last confirmed period,

  • (b) the last day of the month in which the borrower no longer meets the applicable minimum percentage referred to in the definition full-time student in subsection 2(1), and

  • (c) the applicable day, other than the applicable day referred to in paragraph 15(1)(j), on which the borrower’s interest-free period is terminated in accordance with section 15.

• (2) Despite subsection (1), a borrower who is a member of the reserve force and who interrupts their program of studies to serve on a designated operation ceases to be a full-time student on the last day of the month in which their service on the designated operation ends. However, if, as a result of the date on which their service on the designated operation ends, the borrower is unable to continue in a program of studies within six months after that date, the Minister may, on application, delay by up to six months the date on which the borrower ceases to be a full-time student.

• (3) A borrower referred to in subsection (2) must, no later than 30 days after receipt of their posting message provided by the Department of National Defence unless circumstances beyond the control of the borrower necessitate a longer period, notify the Minister in the prescribed form that they will be serving on the designated operation and provide the Minister with

  • (a) their social insurance number;

  • (b) a list of their outstanding student loans, guaranteed student loans and provincial loans;

  • (c) a copy of the posting message; and

  • (d) at the request of the Minister, any information that is necessary to enable the Minister to assess whether the borrower meets the requirements of subsection (2).

• (4) If a borrower referred to in subsection (2) is unable to continue full-time in a program of studies as a result of an injury or disease that is attributable to or was incurred during the designated operation or the aggravation of an injury or disease, if the aggravation was attributable to or was incurred during the designated operation, the borrower ceases to be a full-time student on the earlier of the day

  • (a) on which the Minister determines that the injury or disease, or the aggravation of the injury or disease, no longer precludes the borrower from returning to a program of studies; and

  • (b) that is 2 years after the day on which the borrower’s service on the designated operation ended.

• (5) The following definitions apply in this section:

  designated operation

  designated operation means an operation that is designated under paragraph 247.5(1)(a) of the Canada Labour Code. (opération désignée)

  reserve force

  reserve force has the same meaning as in subsection 2(1) of the National Defence Act. (force de réserve)

Application of Certain Provisions of the Act

• 9 (1) Sections 7, 8, 10 and 11 and subsection 12(4) of the Act apply in respect of risk-shared loans made to full-time students.

• (2) Sections 7 and 8 and subsection 12(4) of the Act apply in respect of direct loans made to full-time students.

Student Loan Limit

10 For the purposes of paragraph 12(4)(a) of the Act, the amount for any province is $210 per week.

Prescribed Percentage

11 For the purposes of subparagraph 12(4)(b)(ii) of the Act, the prescribed percentage, for any province, is sixty per cent.

PART IIStudent Loans Made to Part-Time Students

Obtaining an Initial Student Loan

• 12 (1) Subject to section 15, in order to obtain a student loan, a qualifying student to whom a certificate of eligibility as a part-time student has been issued and who has no outstanding student loan or guaranteed student loan made to that student as a part-time student shall

  • (a) obtain, on the confirmation of enrolment portion of that certificate of eligibility, the signature of an officer of the designated educational institution at which the student is enrolled or the signature of the appropriate authority that issued that certificate of eligibility, where the designated educational institution has authorized that authority to act as an agent of that institution for such a purpose and has notified the Minister of that authorization;

  • (b) sign the consent and certification portion;

  • (c) within 30 days after the signing of the confirmation of enrolment but before the end of the confirmed period, submit the certificate of eligibility and, where section 4 applies, the written authorization referred to in that section,

    • (i) in order to obtain a risk-shared loan,

      • (A) to the branch of the lender to which the student is indebted under any full-time risk-shared loan agreement or guaranteed student loan agreement entered into as a full-time student, if any, or

      • (B) to a lender of the student’s choice, in any other case;

    • (ii) in order to obtain a direct loan,

      • (A) to the Minister, and

      • (B) to the branch of the lender to which the student is indebted under any full-time risk-shared loan agreement or guaranteed student loan agreement entered into as a full-time student, if any;

  • (d) enter into

    • (i) a student loan agreement with the lender, or

    • (ii) a direct student loan agreement with the Minister.

• (2) A qualifying student who meets the requirements set out in subsection (1) becomes a part-time student on the day on which the student loan agreement or the direct student loan agreement, as the case may be, is entered into.

Obtaining a Further Student Loan

• 12.1 (1) Subject to section 15, in order to obtain a student loan, a qualifying student to whom a certificate of eligibility as a part-time student has been issued and who has any outstanding student loan or guaranteed student loans made to that student as a part-time student shall

  • (a) obtain, on the confirmation of enrolment portion of the certificate of eligibility issued to that student, the signature of an officer of the designated educational institution at which the student is enrolled or the signature of the appropriate authority that issued that certificate of eligibility, where the designated educational institution has authorized that authority to act as an agent of that institution for such a purpose and has notified the Minister of that authorization;

  • (b) sign the consent and certification portion;

  • (c) within 30 days after the signing of the confirmation of enrolment but before the end of the confirmed period, submit the certificate of eligibility and, where section 4 applies, the written authorization referred to in that section,

    • (i) in order to obtain a risk-shared loan, to the branch of the lender to which the student is indebted under any risk-shared loan agreement or guaranteed student loan agreement,

    • (ii) in order to obtain a direct loan,

      • (A) to the Minister, and

      • (B) to the branch of the lender to which the student is indebted under any risk-shared loan agreement or guaranteed student loan agreement, if any;

  • (d) on request, pay to the Minister or the lender, as the case may be, any interest payable on those loans to the day before the first day of the confirmed period; and

  • (e) enter into

    • (i) a student loan agreement with the lender, or

    • (ii) a direct student loan agreement with the Minister.

• (2) A qualifying student that meets the requirements set out in subsection (1)

  • (a) again becomes a part-time student on the day on which that student meets those requirements, where more than six months have elapsed between the last day of the previous confirmed period and the first day of the current confirmed period; and

  • (b) continues to be a part-time student on and after the day following the last day of the previous confirmed period, where not more than six months have elapsed between the last day of that period and the first day of the current confirmed period.

• (3) Where a student is indebted to

  • (a) a lender under a student loan agreement, a further risk-shared loan made to that student as a part-time student in accordance with this section shall be a revision to, and form a part of, that agreement; and

  • (b) the Minister under a direct student loan agreement, a further direct loan made to that student as a part-time student in accordance with this section shall be a revision to, and form a part of, that agreement.

Continuation and Reinstatement

• 12.2 (1) Subject to sections 12.1 and 15, a borrower shall, in order to continue to be or again become a part-time student,

  • (a) obtain, on a confirmation of enrolment, the signature of an officer of the designated educational institution at which the borrower is enrolled or the signature of the appropriate authority for the province in which that institution is located, where that institution has authorized that authority to act as an agent of that institution for such a purpose and has notified the Minister of that authorization;

  • (b) sign the consent and certification portion, which includes a statement to the effect that the borrower ratifies any student loans made to that borrower as a minor, of the confirmation of enrolment;

  • (c) within 30 days after the signing of the confirmation of enrolment but before the end of the confirmed period, submit the confirmation of enrolment

    • (i) to the branch of the lender to which the borrower is indebted under any risk-shared loan agreement or guaranteed student loan agreement, or

    • (ii) to the Minister; if the borrower is indebted under any direct loan agreement;

  • (d) on request, pay to the Minister or the lender, as the case may be, any interest payable on any outstanding student loan or guaranteed student loan made to that student as a part-time student, to the day before the first day of the confirmed period.

• (2) A borrower that meets the requirements set out in subsection (1)

  • (a) again becomes a part-time student on the day on which that borrower meets those requirements, where more than six months have elapsed between the last day of the previous confirmed period and the first day of the current confirmed period; and

  • (b) continues to be a part-time student on and after the day following the last day of the previous confirmed period, where not more than six months have elapsed between the last day of that period and the first day of the current confirmed period.

Ceasing to be a Part-time Student

12.3 Subject to paragraphs 12.1(2)(b) and 12.2(2)(b), a borrower ceases to be a part-time student on the earliest of

• (a) the last day of the last confirmed period,

• (b) the last day of the month in which the borrower no longer meets the applicable minimum percentage referred to in the definition part-time student in subsection 2(1), and

• (c) the applicable day on which the period during which no amount on account of principal or interest is required to be paid by the borrower is terminated in accordance with section 15.

Application of Section 11 of the Act

12.4 Section 11 of the Act applies in respect of risk-shared loans made to part-time students.

Student Loan Limit

12.5 The maximum amount, for any province, for the purposes of subsection 12(6) of the Act is $10,000 less the aggregate principal amount of any outstanding student loans or guaranteed student loans made to that student as a part-time student.

Payment of Principal and Interest

12.6 The principal amount of a student loan made to the borrower as a part-time student, and any interest, commence to be payable by the borrower on the last day of the seventh month after the day on which the borrower most recently ceased to be a full-time student under section 8 or a part-time student under section 12.3, as the case may be.

PART IIIAssignments and Transfers

Assignment of Agreements

• 13 (1) In this section and section 14,

  assignee lender

  assignee lender means a lender to which a borrower’s outstanding risk-shared loan agreements are assigned in accordance with this section; (prêteur cessionnaire)

  assignor lender

  assignor lender means a lender that assigns a borrower’s outstanding risk-shared loan agreements in accordance with this section. (prêteur cédant)

• (2) Subject to section 14, a borrower may request the assignment of all of that borrower’s outstanding risk-shared loan agreements if the following conditions are met:

  • (a) the borrower completes the prescribed form to request an assignment of risk-shared loan agreements,

  • (b) the borrower submits the completed form to the assignor lender, and

  • (c) the assignee lender accepts the agreements to be assigned.

• (3) Where subsection (2) is complied with, the assignor lender shall sign the assignment agreement and forthwith send to the assignee lender the borrower’s risk-shared loan agreements and all other documentation in respect of those agreements.

• (4) Subject to subsection 14(3), on receipt of the agreements and other documentation referred to in subsection (3) and on verification that subsection 14(1) has been complied with, the assignee lender shall pay to the assignor lender an amount equal to the aggregate of the outstanding balance of the principal of the risk-shared loans as of the day referred to in subsection (5) and any unpaid interest accrued on those loans to that day, less five per cent of the outstanding principal amount of any risk-shared loans made to the borrower for which a risk premium was paid to a lender pursuant to subparagraph 5(a)(v) of the Act.

• (5) An assignment made in accordance with this section shall take effect on the day before the day of the payment referred to in subsection (4).

• 14 (1) No assignment of risk-shared loan agreements shall be made unless the borrower has

  • (a) complied with subparagraphs 6(1)(d)(i) and (e)(i) or 7(1)(d)(i) and (e)(i) or 12.1(1)(d)(i) or 12.2(1)(d)(i), where applicable to the borrower, or

  • (b) paid to the assignor lender all instalments required from the borrower in accordance with that borrower’s risk-shared loan agreements to the date of the request to assign, where none of the provisions referred to in paragraph (a) apply to the borrower.

• (2) A risk-shared loan agreement in respect of which a judgment has been obtained shall not be assigned.

• (3) An assignee lender may require that the borrower enter into new agreements with the lender in the form approved by the Minister for that lender and, where such a requirement is imposed, the assignment shall take effect on the day those agreements are entered into.

Transfer of Agreements

• 14.1 (1) The definitions in this subsection apply in this section.

  transferee branch

  transferee branch means a branch of the lender to which a borrower’s outstanding risk-shared loan agreements are transferred in accordance with this section; (destinataire du transfert)

  transferor branch

  transferor branch means a branch of the lender that transfers a borrower’s outstanding risk-shared loan agreements in accordance with this section. (auteur du transfert)

• (2) Subject to subsection (5) a borrower may request the transfer of all of the borrower’s outstanding risk-shared loan agreements if the following conditions are met:

  • (a) the borrower completes the prescribed form to request a transfer of risk-shared loan agreements,

  • (b) the borrower submits the completed form to the transferor branch, and

  • (c) the transferee branch accepts the agreements to be transferred.

• (3) Where subsection (2) is complied with and subject to subsection (5), the transferor branch shall forthwith send to the transferee branch the borrower’s risk-shared loan agreements and all other documentation in respect of those agreements.

• (4) The lender shall send to the borrower notice of completion of the transfer.

• (5) No transfer of risk-shared loan agreements shall be made unless the borrower has

  • (a) complied with subparagraphs 6(1)(d)(i) and (e)(i) or 7(1)(d)(i) and (e)(i) or 12.1(1)(d)(i) or 12.2(1)(d)(i), where applicable to the borrower, or

  • (b) paid to the transferor branch all instalments required from the borrower in accordance with that borrower’s risk-shared loan agreements to the date of the request to transfer, where none of the provisions referred to in paragraph (a) apply to the borrower.

14.2 A branch of a lender shall not, on its own initiative, transfer a borrower’s risk-shared loan agreements unless written notice of the transfer has been provided to the borrower.

PART IVRestrictions on Financial Assistance

Denial and Termination

14.3 The circumstances for denying a certificate of eligibility to an individual are that the individual

• (a) is 22 years of age or more when applying for the first time for financial assistance;

• (b) in the 36 months before making the application, has had at least three instances when an instalment on three or more loans or other debts each of which is higher than $1,000 was more than 90 days overdue; and

• (c) had control over the circumstances that led to the overdue instalments.

• 15 (1) For the purposes of this section, applicable day means

  • (a) if the Minister is informed that the borrower has failed to consolidate risk-shared loans or guaranteed student loans made to them as a full-time student within six months after the month in which they ceased to be a full-time student and they do not fulfil the requirements of subsection 5(1) or 7(1) before a judgment is obtained against them and such that the beginning of the last confirmed period is on or before the last day of that six-month period, the day following the last day of that confirmed period;

  • (b) if the Minister is informed that the borrower has failed to make a required payment within the two-month period after the payment was required under their loan agreement, guaranteed student loan agreement, these Regulations or the Canada Student Loans Regulations and they do not fulfil the requirements of subsection 5(1), 7(1), 12.1(1) or 12.2(1), as the case may be, within that period, the day following the last day of that period;

  • (c) where the borrower makes an assignment under the Bankruptcy and Insolvency Act that is filed and not cancelled, is deemed under that Act to have made an assignment, or is the subject of a receiving order, the earlier of the day on which a receiving order is made or the assignment is filed with the official receiver;

  • (d) where the borrower makes a proposal under Division I of Part III the Bankruptcy and Insolvency Act that is approved by a court under that Act, the day on which that proposal is approved;

  • (e) where the borrower makes a consumer proposal under Division II of Part III of the Bankruptcy and Insolvency Act that is approved or deemed approved by a court under that Act, the date on which the consumer proposal is approved or deemed approved;

  • (f) where the borrower applies for a consolidation order under Part X of the Bankruptcy and Insolvency Act that includes a student loan or guaranteed student loan, the date on which that order is issued;

  • (g) where the borrower seeks relief under a provincial law relating to the orderly payment of debts that includes a student loan or guaranteed student loan, the day on which the document seeking relief is filed;

  • (h) where the borrower is, by reason of the borrower’s conduct in obtaining or repaying a student loan or guaranteed student loan, found guilty of an offence under any Act of Parliament, the day of the finding of guilt;

  • (i) if the borrower fails to comply with subsection 19.1(1) or 20.1(1), section 20.3 or subsection 24(3), the 30th day after the end of the applicable repayment assistance period or after the day of the notice, as the case may be;

  • (j) the last day of the confirmed period during which the borrower has been a full-time student for

    • (i) in the case of a full-time student with a permanent disability or in the case of a full-time student to whom a guaranteed student loan has been made as a full-time student, whether or not that loan is outstanding, 520 weeks,

    • (ii) in the case of a student enrolled in a doctoral program of studies, 400 weeks, or

    • (iii) in any other case, 340 weeks;

  • (k) if the borrower has been granted repayment assistance under section 20 or a reduction of outstanding principal under section 42 or 42.1 or section 30.1 of the Canada Student Loans Regulations, as they read immediately before the coming into force of this paragraph, the earlier of, as the case may be, the day of the reduction or

    • (i) in the case of a borrower who has a permanent disability, the day that is 60 months after

      • (A) in respect of the student loans or guaranteed student loans made to the borrower as a full-time student, the day on which the borrower most recently ceased to be a full-time student under section 8 or, in the case of a borrower to whom only guaranteed student loans have been made, section 4.1 of the Canada Student Loans Regulations, and

      • (B) in respect of the student loans made to the borrower as a part-time student, the day on which the borrower most recently ceased to be a full-time student under section 8 or a part-time student under section 12.3, as the case may be, and

    • (ii) in any other case, the day on which the assistance begins; or

  • (l) the day on which, as the case may be, the obligations referred to in section 11 of the Act or the rights referred to in section 11.1 of the Act or section 13 of the Canada Student Loans Act, are terminated.

• (1.1) For the purposes of paragraph (1)(j), the number of weeks is the aggregate of the number of weeks corresponding to the borrower’s confirmed periods as a full-time student, or the equivalent, under the Act and the Canada Student Loans Act, less the number of weeks determined by the Minister for which the designated educational institution has provided that the borrower, despite subsection 8(2), was no longer a full-time student.

• (2) Subject to subsections (5), (6) and (9),

  • (a) if an event referred to in any of paragraphs (1)(a) to (l) occurs the Minister shall, effective on the applicable day referred to in that paragraph,

    • (i) deny a borrower a new certificate of eligibility for any student loan, and

    • (ii) if a certificate of eligibility has been issued to a borrower, deny the borrower a new student loan; and

  • (b) if an event referred to in any of paragraphs (1)(a) to (j) occurs, the Minister shall terminate, effective on the applicable day referred to in that paragraph,

    • (i) in respect of all outstanding student loans made to the borrower as a full-time student, an interest-free period, and

    • (ii) in respect of an outstanding student loan made to the borrower as a part-time student, the period during which no amount on account of principal or interest is required to be paid by the borrower.

• (3) If an event referred to in paragraph (1)(a) or (b) occurs and the Minister pays a claim for loss in respect of the borrower’s guaranteed student loans, the Minister shall refuse to grant to the borrower repayment assistance under section 19 or 20.

• (4) If an event referred to in paragraph (1)(h) or (i) occurs, the Minister shall terminate repayment assistance granted under section 19 or 20 and refuse to grant to the borrower further repayment assistance.

• (5) If an event referred to in paragraph (1)(b) occurs in respect of either a student loan or a guaranteed student loan made to a borrower as a part-time student, an event referred to in any of paragraphs (1)(h) to (k) has not occurred subsequent to the event referred to in paragraph (1)(b) and a judgment has not been obtained against the borrower in respect of an outstanding student loan or guaranteed student loan,

  • (a) the borrower shall be entitled to a new student loan, if a certificate of eligibility has been issued to the borrower as a full-time student in respect of that loan before the day referred to in paragraph (1)(b); and

  • (b) the measure referred to in paragraph (2)(b) shall take effect on the last day of the period of studies for which the certificate of eligibility was issued.

• (6) Where an event referred to in paragraph (1)(a) or (b) occurs in respect of a student loan made to a borrower as a full-time student and, subsequent to that event, the borrower erroneously receives a certificate of eligibility and at least one disbursement authorized by that certificate of eligibility,

  • (a) the borrower shall be entitled to a new student loan authorized by that certificate of eligibility; and

  • (b) the measure referred to in paragraph (2)(b) shall take effect at the end of the period of studies for which the certificate of eligibility was issued.

• (7) Subsection (2) applies to a borrower who, on the day on which the Act comes into force, is denied a new guaranteed student loan or further interest-free status on a guaranteed student loan in accordance with subsection 9(3) of the Canada Student Loans Regulations.

• (8) If an event referred to in any of paragraphs (1)(c) to (g) occurs in respect of either a student loan or a guaranteed student loan made to a borrower as a full-time student, before the last day of the last confirmed period of the program of studies in which the borrower is enrolled at the time the event occurs, the borrower is entitled, if otherwise eligible, to a new student loan or an interest-free period for that program of studies.

• (9) If the borrower receives a new student loan or an interest- free period to which the borrower is entitled under subsection (8), the measures referred to in subsection (2) take effect on the earliest of

  • (a) the last day of the last confirmed period of the program of studies in which the borrower was enrolled at the time the event occurred,

  • (b) the day that is three years after the occurrence of the event or, if that day occurs during a confirmed period, the last day of that period, and

  • (c) the last day of the month in which the borrower no longer meets the applicable minimum percentage referred to in the definition full-time student in subsection 2(1).

Removal of Restrictions

• 16 (1) Subject to subsection (5), where a borrower is subject to a measure taken in accordance with subsection 15(2), (3) or (4) due to the occurrence of an event referred to in paragraph 15(1)(a), (b) or (i), the borrower is entitled to a new student loan, a new certificate of eligibility, another interest-free period and further repayment assistance under section 19 or 20 if

  • (a) an event referred to in paragraph 15(1)(h), (j) or (k) has not occurred in respect of the borrower’s student loans or guaranteed student loans;

  • (b) [Repealed, SOR/2004-120, s. 3]

  • (c) the borrower has, in respect of risk-shared loan agreements and guaranteed student loan agreements for which a judgment has not been obtained and that are held by a lender, paid the interest accrued to a day and fulfilled the terms of a repayment arrangement entered into with that lender that is no more onerous to the borrower than six consecutive payments subsequent to that day that are made in accordance with those agreements; and

  • (d) the borrower has, in respect of direct loan agreements, risk-shared loan agreements and guaranteed student loan agreements held by the Minister, for which a judgment has not been obtained, paid the interest accrued to a day and fulfilled the terms of a repayment arrangement entered into with the Minister that is no more onerous to the borrower than six consecutive payments subsequent to that day that are made in accordance with those agreements.

• (2) Subject to subsection (5), where a borrower is subject to a measure taken in accordance with subsection 15(2) due to the occurrence of an event referred to in any of paragraphs 15(1)(c) to (g), the borrower has the rights referred to in subsection (1) if

  • (a) an event referred to in paragraph 15(1)(h), (j) or (k) has not occurred in respect of the borrower’s student loans or guaranteed student loans;

  • (b) the borrower has complied with paragraph (1)(c) or (d), as the case may be, in the case where the borrower’s consumer proposal has been annulled or deemed annulled or the borrower is no longer subject to a provincial law relating to the orderly payment of debts for a reason other than full compliance with that law, and an event referred to in paragraph 15(1)(c), (d) or (f) has not occurred;

  • (c) the borrower has been released of the borrower’s student loans and guaranteed student loans, in any case other than a case described in paragraph (b); or

  • (d) if the borrower is released from the borrower’s student loans and guaranteed student loans by reason that an absolute order of discharge is granted under the Bankruptcy and Insolvency Act, three years have passed since the date of the order.

• (3) Subject to subsection (5), where a borrower is subject to a measure taken in accordance with subsection 15(2) or (4) due to the occurrence of the event referred to in paragraph 15(1)(h), the borrower shall have the rights referred to in subsection (1) if

  • (a) an event referred to in paragraph 15(1)(j) or (k) has not occurred in respect of the borrower’s student loans or guaranteed student loans;

  • (b) the borrower has been released from that borrower’s student loans and guaranteed student loans that were outstanding on the day of the finding of guilt;

  • (c) where the release referred to in paragraph (b) occurs by operation of an order of absolute discharge granted under the Bankruptcy and Insolvency Act, three years have passed since the date of that order; and

  • (d) either five years have passed since the day of the finding of guilt or a pardon has been granted in respect of that finding.

• (4) Where a borrower, who has been the subject of a measure taken in accordance with subsection 15(2), (3) or (4), has received a risk-shared loan as a minor and has refused to ratify that loan and the Minister has made a payment to the lender pursuant to subparagraph 5(a)(ix) of the Act in respect of that loan, the borrower shall have the rights referred to in subsection (1) if

  • (a) the borrower ratifies that loan; and

  • (b) the requirements of subsection (1), (2) or (3) are met, as is applicable in the circumstances.

• (4.1) Where a borrower, who has been the subject of a measure taken in accordance with subsection 15(2), (3) or (4), has received a direct loan as a minor and has refused to ratify that loan, the borrower shall have the rights referred to in subsection (1) if

  • (a) the borrower ratifies that loan; and

  • (b) the requirements of subsection (1), (2) or (3) are met, as is applicable in the circumstances.

• (4.2) Subject to subsection (5), where a borrower is subject to a measure taken in accordance with subsection 15(2) or (4) due to the occurrence of the event referred to in paragraph 15(1)(k), the borrower has the rights referred to in subsection (1) if the borrower has paid in full the outstanding balance of the student loans or guaranteed student loans.

• (5) Where a judgment has been obtained against a borrower, that borrower shall not be entitled to the rights referred to in subsection (1) unless, in addition to meeting the requirements of subsection (1), (2) or (3), the borrower has been released from that judgment.

Payment of Principal and Interest

17 The principal amount of a student loan made to the borrower as a full-time student, and any interest, commence to be payable by the borrower on the last day of the seventh month after the day on which the borrower most recently ceased to be a full-time student under section 8.

PART IV.1Maximum Amount of Outstanding Student Loans

• 18 (1) For the purposes of section 13 of the Act, the outstanding aggregate amount of student loans may not exceed 19 billion dollars.

• (2) The student loans that will be taken into consideration for the purposes of determining this amount are

  • (a) direct loans; and

  • (b) risk-shared loans that have been purchased by the Minister under an agreement made pursuant to the Act.

PART VRepayment Assistance Plan

First Stage

• 19 (1) Subject to section 15 and section 9 of the Canada Student Loans Regulations, the Minister may, on application in the prescribed form containing the prescribed information, provide the first stage of a repayment assistance plan to a borrower for a period of six months if

  • (a) the borrower resides in Canada;

  • (b) [Repealed, SOR/2012-68, s. 6]

  • (c) all of the risk-shared loan agreements and guaranteed student loan agreements are held by a lender, or, in the case where an event referred to in any of paragraphs 15(1)(c) to (g) or paragraphs 9(1)(c) to (g) of the Canada Student Loans Regulations has occurred, by the Minister or a lender;

  • (d) no more than 120 months have elapsed

    • (i) in respect of student loans or guaranteed student loans made to the borrower as a full-time student, since the day on which the borrower most recently ceased to be a full-time student under section 8 or, in the case of a borrower to whom only guaranteed student loans have been made, section 4.1 of the Canada Student Loans Regulations, and

    • (ii) in respect of student loans made to the borrower as a part-time student, since the day on which the borrower most recently ceased to be a full-time student under section 8 or a part-time student under section 12.3, as the case may be; and

  • (e) the borrower’s monthly affordable payment calculated under subsection (2) is less than their monthly required payment calculated under subsection (3).

• (2) The monthly affordable payment is equal to

  • (a) $0, if the borrower’s monthly family income is no more than the minimum monthly income threshold for their family size determined in accordance with Schedule 1; or

  • (b) the borrower’s monthly family income multiplied by the lesser of the amounts determined by the following formulae:

    0.2A

    1.5[((X – Y)) ÷ 100Z+0.01]A

    where

    A

    is, in relation to student loans, guaranteed student loans and provincial loans, the ratio of the borrower’s outstanding principal to the sum of the borrower’s outstanding principal and the outstanding principal for which instalments are due for any spouse or common-law partner of the borrower,

    X

    is the borrower’s monthly family income,

    Y

    is the monthly income threshold for the borrower’s family size determined in accordance with Schedule 1,

    Z

    is the monthly increment for the borrower’s family size determined in accordance with Schedule 1.

• (3) The monthly required payment is equal to

  • (a) the outstanding principal of the student loans, guaranteed student loans and provincial loans made to the borrower as a full-time student, amortized over a period of the greater of

    • (i) six months, and

    • (ii) 120 months minus the number of months that have elapsed since the day referred to in subparagraph (1)(d)(i) plus the number of months since that day during which the borrower benefited from any special interest-free periods under section 19 or 20 or section 17 or 18 of the Canada Student Loans Regulations, as they read immediately before the coming into force of this section, or repayment assistance under this section; and

  • (b) the outstanding principal of the student loans made to the borrower as a part-time student, amortized over a period of the greater of

    • (i) six months, and

    • (ii) 120 months minus the number of months that have elapsed since the day referred to in subparagraph (1)(d)(ii), plus the number of months since that day during which the borrower benefited from any special interest-free periods under section 19 or 20 as they read immediately before the coming into force of this section, or repayment assistance under this section.

• (4) A borrower shall receive no more than 60 months, in the aggregate, of special interest-free periods granted under section 19 or 20 or section 17 or 18 of the Canada Student Loans Regulations, as they read immediately before the coming into force of this section, and repayment assistance under this section

  • (a) in respect of any student loan or guaranteed student loan made to the borrower as a full-time student, since the day referred to in subparagraph (1)(d)(i); and

  • (b) in respect of any student loan made to the borrower as a part-time student, since the day referred to in subparagraph (1)(d)(ii).

• 19.1 (1) A borrower shall, no later than the day that is 30 days after a repayment assistance period ends, pay to the lender or the Minister, as the case may be, the federal portion of the monthly affordable payments calculated under subsection 19(2) in respect of that period.

• (2) The amount of interest payable by the borrower for a month during a repayment assistance period on the outstanding principal shall be reduced by the lender or the Minister, as the case may be, by the federal portion of the difference between the monthly required payment calculated under subsection 19(3) and the monthly affordable payment calculated under subsection 19(2). That reduction shall only be made in relation to the months for which the borrower complies with subsection (1).

• (3) If the reduction referred to in subsection (2) is made by the lender, the Minister, on being notified of the reduction by the lender in the prescribed form, shall pay to the lender the amount of the reduction.

• (4) In this section, federal portion means the ratio of outstanding principal in relation to student loans and guaranteed student loans to the outstanding principal in relation to those loans and provincial loans.

• (5) Payments made under this section shall be attributed in proportion to the outstanding principal of each student loan or guaranteed student loan.

Second Stage

• 20 (1) Subject to section 15 and section 9 of the Canada Student Loans Regulations, the Minister may, on application in the prescribed form, provide the second stage of a repayment assistance plan to a borrower for a period of six months if

  • (a) the borrower meets the conditions set out in paragraphs 19(1)(a) and (c);

  • (b) the borrower

    • (i) has a permanent disability, or

    • (ii) has received 60 months, in the aggregate, of the periods referred to in subsection 19(4) or at least 120 months has elapsed,

      • (A) in respect of any student loan or guaranteed student loan made to the borrower as a full-time student, since the day referred to in subparagraph 19(1)(d)(i), and

      • (B) in respect of any student loan made to the borrower as a part-time student, since the day referred to in subparagraph 19(1)(d)(ii); and

  • (c) the borrower’s monthly affordable payment calculated under subsection (2) is less than their monthly required payment calculated under subsection (3).

• (2) The monthly affordable payment is equal to

  • (a) in the case of a borrower who has a permanent disability

    • (i) $0, if the borrower’s monthly family income, less their monthly disability-related expenses not covered by their public health care or private insurance, is no more than the monthly income threshold for their family size determined in accordance with Schedule 1; and

    • (ii) the borrower’s monthly family income multiplied by the lesser of the amounts determined by the following formulae:

      0.2A

      1.5[((W – Y)) ÷ 100Z+0.01]A

      where

      A

      is, in relation to student loans, guaranteed student loans and provincial student loans, the ratio of the borrower’s outstanding principal to the sum of the borrower’s outstanding principal and the outstanding principal for which instalments are due for any spouse or common-law partner of the borrower,

      W

      is the borrower’s monthly family income less their monthly disability-related expenses not covered by their public health care or private insurance,

      Y

      is the monthly income threshold for the borrower’s family size determined in accordance with Schedule 1;

      Z

      is the monthly increment for the borrower’s family size determined in accordance with Schedule 1;

  • (b) in any other case, the amount referred to in subsection 19(2).

• (3) The monthly required payment is equal to

  • (a) the outstanding principal of the student loans, guaranteed student loans and provincial loans made to the borrower as a full-time student, amortized over a period of the greater of six months and

    • (i) in the case of a borrower who has a permanent disability, 120 months minus the number of months that have elapsed since the day referred to in subparagraph 19(1)(d)(i); and

    • (ii) in any other case, 180 months minus the number of months that have elapsed since the day referred to in subparagraph 19(1)(d)(i); and

  • (b) the outstanding principal of the student loans made to the borrower as a part-time student amortized over a period of the greater of six months and

    • (i) in the case of a borrower who has a permanent disability, 120 months minus the number of months that have elapsed since the day referred to in subparagraph 19(1)(d)(ii), and

    • (ii) in any other case, 180 months minus the number of months that have elapsed since the day referred to in subparagraph 19(1)(d)(ii).

• 20.1 (1) A borrower shall, no later than the day that is 30 days after a repayment assistance period ends, pay to the lender or the Minister, as the case may be, the federal portion of the monthly affordable payments calculated under subsection 20(2) in respect of that period.

• (2) The amount owing as outstanding principal and interest for a month during a repayment assistance period by a borrower shall be reduced by the lender or Minister, as the case may be, by the federal portion of the difference between the monthly required payment calculated under subsection 20(3) and the monthly affordable payment calculated under subsection 20(2). That reduction shall only be made in relation to the months for which the borrower complies with subsection (1).

• (3) If the reduction referred to in subsection (2) is made by the lender, the Minister, on being notified of the reduction by the lender in the prescribed form, shall reimburse the lender the amount of the reduction.

• (4) In this section, federal portion means the ratio of outstanding principal in relation to student loans and guaranteed student loans to the outstanding principal in relation to those loans and provincial loans.

• (5) Payments made under this section shall be attributed in proportion to the outstanding principal of each student loan or guaranteed student loan.

Commencement of Repayment Assistance Period

20.2 A repayment assistance period shall begin no earlier than the later of

• (a) the first day of the month that is six months before the day on which the borrower applies for the assistance,

• (b) the day on which the principal amount and any interest commence to be payable by the borrower, and

• (c) the day on which these regulations come into force.

Condition

20.3 If any accrued interest remains unpaid on the day on which repayment assistance begins, the borrower shall, on or before the day that is 30 days after the repayment assistance period ends,

• (a) pay to the lender or the Minister, as the case may be, the unpaid accrued interest; or

• (b) if they have not already done so, enter into a revised agreement for the payment of a period of up to three months of the unpaid accrued interest and pay to the lender or the Minister, as the case may be, any remaining unpaid accrued interest.

Administration

• 21 (1) With the written authorization of the Minister, a lender

  • (a) who holds a borrower’s risk-shared loan agreement may exercise the powers given to the Minister under subsections 15(3) and (4) and sections 19 and 20; and

  • (b) who holds a borrower’s guaranteed student loan agreement may exercise the powers given to the Minister under sections 19 and 20 and subsections 9(4) and (5) of the Canada Student Loans Regulations.

• (2) The Minister shall provide the lender any information that is necessary to enable the lender to act under subsection (1).

• 22 (1) If an application is made for repayment assistance, notice of a decision in respect of that application shall be given to the borrower and the lender or, if the lender is acting under subsection 21(1), to the borrower and the Minister.

• (2) The notice shall set out

  • (a) the day on which the repayment assistance begins and ends;

  • (b) the amount of the payment required under subsection 19.1(1) or 20.1(1); and

  • (c) the fact that the decision to grant repayment assistance is subject to the condition set out in section 20.3.

22.1 [Repealed, SOR/2009-212, s. 4]

Reconsideration

• 23 (1) The Minister may, on the written request of the borrower and based on documentary evidence provided by the borrower, reconsider a borrower’s application for repayment assistance if

  • (a) the borrower’s application has been rejected for the sole reason that the borrower did not meet the criterion set out in paragraph 19(1)(e) or 20(1)(c); and

  • (b) unforeseen and unavoidable circumstances beyond the control of the borrower or their spouse or common-law partner have led to the borrower incurring extraordinary expenses.

• (2) The Minister shall provide a notice of the determination to the borrower in the case of a direct loan and to the borrower and the lender in all other cases.

Mistake

• 24 (1) If repayment assistance is granted because of an error by the borrower in their application, the Minister may cancel or reduce the assistance.

• (2) The Minister shall provide a notice of the cancellation or reduction to the borrower, in the case of a direct loan, and to the borrower and the lender, in all other cases, specifying

  • (a) the date of the notice; and

  • (b) the day on which the repayment assistance is to be cancelled or reduced.

• (3) A borrower shall, within 30 days after the date of the notice,

  • (a) repay to the Minister or the lender, as the case may be, the amount of repayment assistance that the borrower was not entitled to receive; or

  • (b) enter into a revised agreement for the repayment of that amount.

• (4) A lender shall, without delay after the date of the notice, repay to the Minister any amount paid by the Minister as a result of the error.

25 [Repealed, SOR/96-368, s. 18]

Effect on Loan Agreement

26 If a repayment assistance period has been granted to a borrower, the provisions of any loan agreement or guaranteed student loan agreement that was in effect between the borrower and the lender or between the borrower and the Minister, as the case may be, on the day on which the borrower applied for that period shall be suspended until the earliest of

• (a) the day on which repayment assistance is terminated in accordance with subsection 15(4),

• (b) the end of that repayment assistance period, and

• (c) in respect of the borrower’s consolidated student loan agreement or consolidated guaranteed student loan agreement, if any, the day on which the borrower again becomes a full-time student in accordance with subsection 5(3) or 7(2).

27. to 32 [Repealed, SOR/96-368, s. 20]

PART VICanada Student Grants

Obtaining a Canada Student Grant

33 The Minister, an appropriate authority or a body authorized by the Minister for a province may make a grant, other than a grant awarded under section 34 or 40.022, to a qualifying student who

• (a) is issued, or in respect of whom is issued, a certificate of eligibility;

• (b) within 30 days after obtaining confirmation of their enrolment from an officer of the designated educational institution at which they are enrolled but no later than the last day of the confirmed period, submits the confirmation of enrolment

  • (i) to the Minister unless they are notified in writing by the appropriate authority that the confirmation of enrolment is to be submitted to the Minister by the designated educational institution, and

  • (ii) to the branch of the lender to which they are indebted under any risk-shared loan agreement or guaranteed student loan agreement;

• (c) has entered into a full-time direct loan agreement or a direct student loan agreement for the period of studies referred to in the certificate of eligibility in relation to repayment of the grant under subsection 40.04(2).

Grant for Services and Equipment for Students with Permanent Disabilities

• 34 (1) An appropriate authority or a body authorized by the Minister for a province may make a grant for services and equipment for students with permanent disabilities to a qualifying student who

  • (a) has a permanent disability;

  • (b) meets the criteria set out in paragraphs 12(1)(a) and (b) of the Act;

  • (c) is not denied further student loans under section 15;

  • (d) is in need of exceptional education-related services or equipment that are required for the student to perform the daily activities necessary to participate in studies at a post-secondary school level and that are indicated in the List of Eligible Exceptional Education-related Services and Equipment, as amended from time to time, published in the Canada Gazette Part I; and

  • (e) has used the grants previously made to the student under this section for the purpose for which they were intended.

• (2) The qualifying student must

  • (a) apply for the grant in the prescribed form to the appropriate authority or other body;

  • (b) provide, with that application, proof of the student’s permanent disability in the form of

    • (i) a medical certificate,

    • (ii) a psycho-educational assessment, or

    • (iii) documentation proving receipt of federal or provincial disability assistance; and

  • (c) provide, with that application, written confirmation that the student is in need of exceptional education-related services or equipment from a person qualified to determine such need.

• (3) The maximum amount of the grant shall be $8,000 for a loan year.

34.1 [Repealed, SOR/2005-152, s. 8]

35 [Repealed, SOR/98-402, s. 6]

36 [Repealed, SOR/2009-143, s. 6]

37 [Repealed, SOR/98-402, s. 7]

Grant for Part-time Studies

• 38 (1) The Minister, an appropriate authority or a body authorized by the Minister for a province may make a grant for part-time studies to a qualifying student who

  • (a) is qualified for enrolment or is enrolled as a part-time student;

  • (b) meets the criteria set out in paragraphs 12(1)(a) and (b) of the Act;

  • (c) is not denied further student loans under section 15;

  • (c.1) has successfully completed all courses in respect of which a grant was previously made to the student under this section; and

  • (d) has an annual family income that is equal to or less than the applicable income threshold indicated in the Income Threshold Table, as amended from time to time, published in the Canada Gazette Part I, taking into consideration the number of persons comprising the borrower, the borrower's spouse or common-law partner and their dependants.

  • (e) [Repealed, SOR/2009-143, s. 8]

• (2) The qualifying student must apply for the grant in the prescribed form to the appropriate authority or other body.

• (3) The grant for each loan year shall not exceed the lesser of

  • (a) the amount the student needs as determined under subsection 12(2) of the Act, and

  • (b) $1,200.

Grant for Students with Dependants

• 38.1 (1) The Minister, an appropriate authority or a body authorized by the Minister for a province may make a grant for students with dependants to a qualifying student who

  • (a) is qualified for enrolment or is enrolled as a full-time student;

  • (b) has one or more dependants;

  • (c) meets the criteria set out in paragraphs 12(1)(a) and (b) of the Act;

  • (d) is not denied further student loans under section 15; and

  • (e) has a total family income from the previous year that is no more than the applicable income threshold set out in Table 1 of Schedule 3.

• (2) The grant shall be $200 for each dependant for each month of study.

• 38.2 (1) The Minister, an appropriate authority or a body authorized by the Minister for a province may make a grant for students with dependants to a qualifying student who

  • (a) is qualified for enrolment or is enrolled as a part-time student;

  • (b) has one or more dependants;

  • (c) needs an amount as determined under subsection 12(2) of the Act in excess of the aggregate of

    • (i) the maximum amount payable to the student under subsection 38(3), and

    • (ii) the greater of $4,000 less the aggregate principal amount of all outstanding part-time loans and 0;

  • (d) meets the criteria set out in paragraphs 12(1)(a) and (b) of the Act; and

  • (e) is not denied further student loans under section 15.

• (2) The grant for each loan year shall not exceed the lesser of

  • (a) the amount the qualifying student needs as determined under subsection 12(2) of the Act,

  • (b) $40 per week of study in a loan year if the student has one or two dependants,

  • (c) $60 per week of study in a loan year if the student has three or more dependants, and

  • (d) $1,920.

38.3 [Repealed, SOR/2005-47, s. 1]

39 [Repealed, SOR/98-402, s. 9]

40 [Repealed, SOR/2009-143, s. 11]

Grant for Students with Permanent Disabilities

• 40.01 (1) The Minister, an appropriate authority or a body authorized by the Minister for a province may make a grant for students with permanent disabilities to a qualifying student who

  • (a) has a permanent disability;

  • (b) meets the criteria set out in paragraphs 12(1)(a) and (b) of the Act; and

  • (c) is not denied further student loans under section 15.

• (2) The qualifying student shall provide, with their loan application, proof of their permanent disability in the form of

  • (a) a medical certificate;

  • (b) a psycho-educational assessment; or

  • (c) documentation proving receipt of federal or provincial disability assistance.

• (3) The grant for a loan year shall be $2,000.

Grant for Students from Low-income Families

• 40.02 (1) The Minister, an appropriate authority or a body authorized by the Minister for a province may make a grant for students from low-income families to a qualifying student who

  • (a) is qualified for enrolment or is enrolled as a full-time student in a program of studies of at least two years duration that leads to a degree, certificate or diploma not beyond the undergraduate level;

  • (b) meets the criteria set out in paragraphs 12(1)(a) and (b) of the Act;

  • (c) is not denied further student loans under section 15; and

  • (d) has a total family income from the previous year that is no more than the applicable income threshold set out in Table 1 of Schedule 3.

• (2) The grant shall be $250 per month of study.

Grant for Students from Middle-income Families

• 40.021 (1) The Minister, an appropriate authority or a body authorized by the Minister for a province may make a grant for students from middle-income families to a qualifying student who

  • (a) is qualified for enrolment or is enrolled as a full-time student in a program of studies of at least two years duration that leads to a degree, certificate or diploma not beyond the undergraduate level;

  • (b) meets the criteria set out in paragraphs 12(1)(a) and (b) of the Act;

  • (c) is not denied further student loans under section 15; and

  • (d) has a total family income from the previous year that is more than the applicable income threshold set out in Table 1 of Schedule 3 and no more than the applicable threshold in Table 2 of Schedule 3.

• (2) The grant shall be $100 per month of study.

Transition Grant — Canada Millennium Scholarship

• 40.022 (1) The Minister, an appropriate authority or a body authorized by the Minister for a province may make a transition grant with respect to a qualifying student who

  • (a) meets the criteria set out in paragraphs 12(1)(a) and (b) of the Act;

  • (b) is not denied further loans under section 15;

  • (c) received a Millennium Bursary for the 2008–2009 school year and has not ceased since that year to be a full-time student under section 8;

  • (d) has received no more than $25,000, in the aggregate, of grants under this section, sections 40.02 and 40.021, and Canada Millennium Scholarships other than awards under the Millennium Excellence Awards Program;

  • (e) has received the grants under this section, the grants referred to in sections 40.02 and 40.021 and Canada Millennium Scholarships other than awards under the Millennium Excellence Awards Program, in respect of no more than 32 months of study; and

  • (f) has received the grant for no more than three consecutive loan years.

• (2) The amount of the grant for a loan year shall be the amount that the student received as a Millennium Bursary in the 2008–2009 school year minus any amount that the student is entitled to receive under section 40.02 or 40.021 for that loan year.

• (3) In this section, Millennium Bursary means a bursary awarded under the Millennium Bursary Program other than a Millennium Access Bursary, awards under the Millennium Excellence Awards Program and scholarships awarded under the World Petroleum Council Millennium Scholarship Program.

Administration of Canada Student Grants

• 40.03 (1) The Minister shall pay to the appropriate authority or other body authorized by the Minister for a province the amount that the authority or other body requires to make Canada student grants to qualifying students for a loan year under this Part.

• (2) Each appropriate authority or other body shall provide to the Minister at the end of each loan year, or on request of the Minister during a loan year, an accounting of all grants made to qualifying students by that appropriate authority or other body during that loan year or other period identified by the Minister.

• (3) An appropriate authority or other body shall repay to the Minister any money provided for a loan year that is not given as grants in accordance with this Part. The overpayment becomes a debt due to Her Majesty in right of Canada on the day after the last day of that loan year.

Conversion of Grant into Loan

• 40.04 (1) The Minister may, by written notice, require a person to repay all or part of a grant, other than a grant awarded under section 34 or 40.022, to the Minister

  • (a) if the person is no longer qualified for enrolment or is no longer enrolled as a full-time student or a part-time student, as the case may be, within 30 days after the first day of class unless unforeseen and unavoidable circumstances beyond the control of the person caused that change in status;

  • (b) if the person received the grant on the basis of providing inaccurate information or of failing to provide relevant information to the Minister, the appropriate authority or the body authorized by the Minister for a province; or

  • (c) if the appropriate authority determines that the person was not entitled to the grant as the result of a reassessment of the person’s need as determined under subsection 12(2) of the Act.

• (2) The amount of the grant that is required to be repaid shall be converted into a direct loan.

• (3) The Minister may, based on documentary evidence provided within six months after the date of notice of the requirement, cancel or amend a requirement for repayment made under paragraph (1)(a) if the requirement is not justified under that paragraph.

PART VIIGeneral

Administrative Measures — Prescribed Period

• 40.05 (1) Subject to subsection (2), for the purposes of paragraphs 17.1(1)(a), (b), (d), (f) and (g) of the Act, the prescribed period is as follows:

  • (a) if the amount of assistance awarded in excess of the amount to which the person would have otherwise been entitled is

    • (i) less than $4,000, one year,

    • (ii) $4,000 or more but less than $6,000, two years,

    • (iii) $6,000 or more but less than $8,000, three years,

    • (iv) $8,000 or more but less than $10,000, four years, and

    • (v) $10,000 or more, five years;

  • (b) if the person is not a qualifying student, five years; and

  • (c) if administrative measures have already been taken in respect of the person under section 17.1 of the Act or section 18.1 of the Canada Student Loans Act, five years.

• (2) If more than one period applies to the person under subsection (1), the prescribed period is the longest applicable period.

Subrogation

• 40.1 (1) Where the Minister makes a payment to a lender pursuant to subparagraph 5(a)(viii) or (ix) of the Act in respect of a risk-shared loan, Her Majesty in right of Canada is subrogated in and to all the rights of the lender in respect of the risk-shared loan and, without limiting the generality of the foregoing, all rights and powers of the lender in respect of

  • (a) the risk-shared loan;

  • (b) any judgment obtained by the lender in respect of the risk-shared loan; and

  • (c) any security held by the lender for the repayment of the risk-shared loan.

• (2) Her Majesty in right of Canada is entitled to exercise all the rights, powers and privileges that the lender had or may exercise in respect of the loan, judgment or security, including the right to commence or continue any action or proceeding, to execute any release, transfer, sale or assignment, or in any way collect, realize or enforce the loan, judgment or security.

41 [Repealed, 2005, c. 34, s. 78]

42 [Repealed, SOR/2009-212, s. 6]

42.1 [Repealed, SOR/2009-212, s. 6]

42.2 [Repealed, SOR/2009-212, s. 6]

43 [Repealed, SOR/2009-212, s. 6]

43.1 [Repealed, SOR/2009-143, s. 18]