Canada Student Financial Assistance Regulations (SOR/95-329)

Regulations are current to 2014-04-02 and last amended on 2013-08-01. Previous Versions

 [Repealed, SOR/96-368, s. 18]

Effect on Loan Agreement

[SOR/96-368, s. 18]

 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).

  • SOR/96-368, s. 19;
  • SOR/2000-290, s. 21;
  • SOR/2009-212, s. 5;
  • SOR/2012-68, s. 10.

PART V.1LOAN FORGIVENESS FOR FAMILY PHYSICIANS, NURSES AND NURSE PRACTITIONERS

Application

 This Part applies to a borrower who began to work in an under-served rural or remote community on or after July 1, 2011 as a family physician, nurse or nurse practitioner.

  • SOR/2012-254, s. 4.

Amount and Duration of Forgiveness

  •  (1) For the purposes of subsection 9.2(1) of the Act, the Minister may, for a year, forgive the lesser of

    • (a) the outstanding principal of the borrower’s student loan, and

    • (b) $8,000, in the case of a family physician or $4,000, in the case of a nurse or nurse practitioner.

  • (2) The maximum number of years in respect of which an amount may be forgiven is five.

  • SOR/2012-254, s. 4.

Conditions and Effective Date

  •  (1) To qualify for loan forgiveness for a year, the borrower must

    • (a) have worked in an under-served rural or remote community as a family physician, nurse or nurse practitioner during the year; and

    • (b) apply to the Minister in the prescribed form no later than 90 days after the end of that year.

  • (2) The loan forgiveness takes effect on the day following the end of the year.

  • SOR/2012-254, s. 4.

 [Repealed, SOR/96-368, s. 20]

PART VICANADA STUDENT GRANTS

[SOR/2002-219, s. 6; SOR/2009-143, s. 4]

Obtaining a Canada Student Grant

 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).

  • SOR/2009-143, s. 4;
  • SOR/2011-96, s. 7.