Canada Student Financial Assistance Regulations

7 (1) Subject to sections 6 and 15, a borrower shall, in order to continue to be or again become a full-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 while 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) where more than six months have elapsed between the day on which the borrower ceased to be a full-time student pursuant to section 8 and the first day of the current confirmed period,

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

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

• (e) where the borrower submits the confirmation of enrolment later than six months after the day the borrower ceased to be a full-time student pursuant to section 8 but before the last day of the confirmed period that started within the six-month period,

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

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

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

  • (ii) if the borrower is indebted under any full-time direct loan agreement, either

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

    • (B) enter into a consolidated direct loan agreement with the Minister in which the unpaid accrued interest referred to in clause (A) is added to the principal amount.

(2) Where the borrower referred to in subsection (1) meets the requirements set out in that subsection,

• (a) that borrower again becomes a full-time student on the day on which the borrower meets those requirements, where paragraph (1)(d) or (e) applies in respect of that borrower; and

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