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15 (1) For the purposes of this section, applicable day means
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(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;
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(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;
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(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;
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(j) the last day of the confirmed period during which the borrower has been a full-time student for
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(i) in the case of a full-time student with either a permanent disability or a persistent or prolonged 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,
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(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.
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(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 subsections 7.1(3) and 8(2), was no longer a full-time student.
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(2) Subject to subsections (5), (6) and (9),
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(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,
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(i) in respect of all outstanding student loans made to the borrower as a full-time student, an interest-free period, and
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(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.
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(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,
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(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,
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(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.
