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

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.

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.

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.