(a) defining the words and expressions referred to in subsection 2(2);
(b) providing for the assignment between lenders of agreements between borrowers and lenders, and prescribing the conditions and consequences of such assignments;
(c) providing for the transfer between branches of a lender of agreements between borrowers and that lender, and prescribing the conditions and consequences of such transfers;
(d) providing for the manner of completing certificates of eligibility, and prescribing the provisions to be included in those certificates;
(d.1) respecting the issuance of certificates of eligibility and providing for their subsequent submission by the issuees;
(e) providing for the conditions to be met before a disbursement in respect of a student loan may be made;
(e.1) defining the term “financial institutions” for the purposes of section 6.3 and providing for the circumstances under which financial institutions may disburse student loans to qualifying students;
(f) prescribing the maximum number of weeks or periods of studies that may elapse after which, notwithstanding anything in this Act, the principal amount of a student loan made to a full-time student, and interest thereon, commence to be payable by the borrower;
(f.1) respecting the circumstances in which an amount on account of principal or interest is not required to be paid in respect of student loans;
(g) prescribing the circumstances in which a borrower is or ceases to be a full-time student;
(h) respecting the subrogation of Her Majesty in right of Canada to the rights of a lender;
(i) prescribing the circumstances under which a loan or a certificate of eligibility may be denied to a student, or an interest-free period referred to in subsection 7(1) may be terminated by the Minister;
(j) prescribing student loans to which section 7, 8, 10 or 11 or subsection 12(4) applies;
(k) respecting the circumstances in which no interest is payable by members of the reserve force in respect of their student loans;
(k.1) respecting the circumstances in which no fees may be charged to members of the reserve force on their student loans;
(k.2) respecting the circumstances in which no amount on account of principal or interest is required to be paid by members of the reserve force in respect of their student loans;
(k.3) respecting the payment of interest under subsection 9(2);
(l) providing, in respect of student loans made to full-time and part-time students, for the gratuitous payment, including the method of calculating it, whether conditionally or unconditionally, by the Minister to lenders of amounts in respect of such loans, and for the discharge of such loans to the extent of those amounts;
(m) notwithstanding any other provision of this Act, providing for the operation of a student loan program for part-time students, including the determination of a student’s status, terms of repayment of the loans, the advancement of loan funds and the maximum number of weeks or periods of studies that may elapse after which the principal amounts of the loans commence to be payable by the borrowers;
(n) providing for the establishment and operation of a program to provide special interest-free or interest-reduced periods to borrowers or classes of borrowers, including the terms and conditions of the granting or termination of the periods, the making, continuation or alteration of agreements between borrowers and lenders when the periods are granted or terminated and the authorization of lenders to grant or terminate the periods and otherwise administer the program;
(o) providing, in respect of any province, for repayment of student loans by borrowers or classes of borrowers on an income-contingent basis, or for the establishment and operation of a student loan program that is financed by Her Majesty in right of Canada or any agent of Her Majesty in right of Canada and that may provide for the repayment of student loans by borrowers or classes of borrowers on an income-contingent basis;
(o.1) prescribing the amount that may be forgiven in respect of a year under section 9.2 in respect of a student loan;
(o.2) prescribing the maximum number of years in respect of which amounts may be forgiven under section 9.2 in respect of a student loan;
(p) providing for the establishment and operation of grant programs, and additional grant programs for qualifying students whose financial needs are greater than the maximum amount of the financial assistance that may be given to the student, for the classes of persons who are eligible for grants and for the circumstances in which all or part of a grant is to be repaid or converted into a loan;
(q) prescribing anything that is to be prescribed by the regulations; and
(r) generally, for carrying into effect the purposes and provisions of this Act.
Marginal note:Maximum aggregate amount of outstanding student loans
(1.1) On the Minister’s recommendation with the Minister of Finance’s concurrence, the Governor in Council may make regulations, for the purposes of section 13,
(2) [Repealed, 2013, c. 40, s. 234]
- 1994, c. 28, s. 15;
- 1998, c. 21, s. 100;
- 2000, c. 14, s. 20;
- 2005, c. 34, s. 63;
- 2008, c. 15, s. 3, c. 28, s. 108;
- 2011, c. 24, s. 155;
- 2013, c. 40, s. 234.
Marginal note:Documents and information
(a) form or other document to be used in connection with giving financial assistance to students, or otherwise for the effective operation of this Act, or
(b) information to be included in any document referred to in paragraph (a), in addition to the information otherwise required by this Act or the regulations to be included in such a document,
must be either determined by the Minister or approved by the Minister.
Marginal note:Right of recovery by Minister
16.01 A student loan that is made to a borrower who is not of full age under an agreement entered into under section 6.1, and interest on the loan, is recoverable by the Minister from the borrower as though the borrower had been of full age at the time the agreement was entered into.
- 2008, c. 28, s. 109.
16.02 On application by a qualifying student or a borrower, the Minister may, to avoid undue hardship to the student or borrower, waive
(a) a requirement of the regulations with respect to the times within which the student or borrower’s confirmation of enrolment or certificate of eligibility is to be submitted; or
(b) a requirement of the regulations, or a requirement determined or approved by the Minister, with respect to the form or manner in which information in respect of the student or borrower is to be provided.
- 2008, c. 28, s. 109.
Marginal note:Financial assistance denied due to error
16.03 If the Minister is satisfied that a person was denied financial assistance to which the person would have been entitled as a result of an error made in the administration of this Act or the regulations, the Minister may take remedial action to place the person in the position that he or she would have been in under this Act had the error not been made.
- 2008, c. 28, s. 109.
Marginal note:Limitation period
16.1 (1) Subject to this section and section 16.2, no action or proceedings shall be taken to recover money owing under a student loan more than six years after the day on which the money becomes due and payable.
Marginal note:Deduction and set-off
(2) Money owing under a student loan may be recovered at any time by way of deduction from or set-off against any sum of money that may be due or payable by Her Majesty in right of Canada to the borrower or the estate or succession of the borrower.
Marginal note:Acknowledgment of liability
(3) If a borrower’s liability for money owing under a student loan is acknowledged in accordance with subsection (4), the time during which the limitation period has run before the acknowledgment does not count in the calculation of that period.
Marginal note:Types of acknowledgments
(4) An acknowledgment of liability means
(a) a written promise to pay the money owing, signed by the borrower or his or her agent or other representative;
(b) a written acknowledgment of the money owing, signed by the borrower or his or her agent or other representative, whether or not a promise to pay can be implied from it and whether or not it contains a refusal to pay;
(c) a part payment by the borrower or his or her agent or other representative of any money owing; or
(d) any acknowledgment of the money owing made by the borrower, his or her agent or other representative or the trustee or administrator in the course of proceedings under the Bankruptcy and Insolvency Act or any other legislation dealing with the payment of debts.
Marginal note:Acknowledgment after expiry of limitation period
(5) If a borrower’s liability for money owing under a student loan is acknowledged in accordance with subsection (4) after the expiry of the limitation period in respect of the loan, an action or proceedings to recover the money may, subject to subsections (3) and (6), be brought within six years after the date of the acknowledgment.
Marginal note:Limitation period suspended
(6) The running of a limitation period in respect of a student loan is suspended during any period in which it is prohibited to commence or continue an action or other proceedings against the borrower to recover money owing under the loan.
Marginal note:Enforcement proceedings
(7) This section does not apply in respect of an action or proceedings relating to the execution, renewal or enforcement of a judgment.
- 2003, c. 15, s. 11.
- Date modified: