Canada Student Financial Assistance Act

Marginal note:Interest-free period

• 7 (1) Subject to the regulations, no interest is payable by a borrower on a student loan prescribed by regulations made under paragraph 15(1)(j) in respect of any period of studies during which the borrower is a full-time or part-time student, or in respect of any subsequent period ending on

  • (a) in the case of a student loan that is made to a full-time student, the last day of the month in which the borrower ceases to be a full-time student; and

  • (b) in the case of a student loan that is made to a part-time student, the last day of the month in which the borrower ceases to be a student, whether a part-time or full-time student.

• Marginal note:No fees

  (2) No fee of any kind may be charged to a borrower on a student loan in respect of any period of studies, or a subsequent period, referred to in subsection (1).