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Canada Student Loans Act (R.S.C., 1985, c. S-23)

Act current to 2020-11-02 and last amended on 2020-03-25. Previous Versions

Regulations

Marginal note:Regulations

 The Governor in Council may make regulations

  • (a) [Repealed, 1993, c. 12, s. 9]

  • (b) prescribing in accordance with paragraph 7(f) the provisions to be included in agreements between borrowers and lenders relating to guaranteed student loans;

  • (c) providing for the alteration of agreements between borrowers and lenders and prescribing the conditions and consequences of those alterations;

  • (d) providing for the assignment or transfer by lenders of agreements between borrowers and lenders and prescribing the conditions and consequences of such assignments or transfers;

  • (e) prescribing, for the purposes of section 6, the rate of interest, or the manner of determining the rate of interest, payable by the Minister on a guaranteed student loan or a class of guaranteed student loans;

  • (f) prescribing, for the purposes of paragraph 7(d),

    • (i) the manner of calculating the interest and the amount on which it is to be calculated, and

    • (ii) the rate of interest or the manner of determining the rate of interest;

  • (g) prescribing, in the event of default in the repayment of a guaranteed student loan, the measures to be taken by the lender and the procedures to be followed for the collection of the amount of the loan outstanding and accrued interest;

  • (h) prescribing, for the purpose of section 7 or 7.1, the method of determining the amount of any loss sustained by a lender;

  • (i) prescribing the procedure to be followed by a lender in making a claim against the Minister;

  • (j) respecting the subrogation of Her Majesty to the rights of a lender with respect to a guaranteed student loan;

  • (k) prescribing the maximum number of periods of studies that may elapse after which, notwithstanding anything in this Act, the principal amount of a guaranteed student loan made to a full-time student and interest thereon shall commence to be payable by the borrower;

  • (k.1) respecting the circumstances in which an amount on account of principal or interest is not required to be paid in respect of guaranteed student loans;

  • (l) respecting, for the purposes of subparagraph 7(e)(i), criteria, parameters, or the incorporation by reference of such established lender practices as are specified, in respect of the repayment of guaranteed student loans made to full-time students;

  • (m) prescribing circumstances, related to the conduct of a student in obtaining or repaying a guaranteed student loan, under which a new loan may be denied to a student or a borrower’s right to an interest-free period under section 4 or to a special interest-free period under section 10 may be revoked by the Minister;

  • (n) prescribing the period within which a lender shall make a claim against the Minister in respect of the amount of any loss sustained as a result of a guaranteed student loan and prescribing the amount or proportion by which any amount to be paid by the Minister to a lender pursuant to section 7 shall be reduced where the lender fails to make a claim within the prescribed period;

  • (o) prescribing the formulas referred to in subsection 3(2);

  • (p) providing for reports to be made to the Minister for the purposes of this Act and prescribing the kind of information to be included in those reports;

  • (q) providing for the repayment of guaranteed student loans by borrowers or classes of borrowers on an income-contingent basis;

  • (q.1) 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 those loans, and for the discharge of those loans to the extent of those amounts;

  • (q.2) prescribing the amount that may be forgiven in respect of a year under section 11.1 in respect of a guaranteed student loan;

  • (q.3) prescribing the maximum number of years in respect of which amounts may be forgiven under section 11.1 in respect of a guaranteed student loan;

  • (r) defining the expressions family physician, full-time student, nurse, nurse practitioner, part-time student, responsible officer of a lender and under-served rural or remote community for the purposes of this Act;

  • (r.1) prescribing the circumstances in which a borrower ceases to be a full-time student;

  • (s) providing, notwithstanding section 15, for the adjustment of the amount of the provincial allocation for a province for any loan year, in any case where the aggregate of the amounts set out in certificates of eligibility issued or caused to be issued by the appropriate authority for the province for a previous year exceeded the aggregate of the amounts referred to in paragraphs 15(1)(a) and (b) applicable to that province for that previous year;

  • (s.1) respecting the circumstances in which no interest is payable by members of the reserve force in respect of their guaranteed student loans;

  • (s.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 guaranteed student loans;

  • (s.3) respecting the payment of interest under subsection 5.1(2);

  • (t) prescribing any other matter or thing that under this Act is to be prescribed by the regulations; and

  • (u) generally, for carrying into effect the purposes and provisions of this Act.

  • R.S., 1985, c. S-23, s. 17
  • 1993, c. 12, s. 9
  • 1994, c. 28, s. 26
  • 1996, c. 18, s. 63
  • 1998, c. 21, s. 102
  • 2008, c. 15, s. 5, c. 28, s. 113
  • 2011, c. 24, s. 158

Forms

Marginal note:Forms

 The Minister may prescribe

  • (a) any form or other document that is by this Act or the regulations to be prescribed by the Minister; and

  • (b) the 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 therein.

  • 1993, c. 12, s. 10

Offence and Punishment

Marginal note:False statement or information

  •  (1) Every person who, in respect of a guaranteed student loan, knowingly makes any false statement or misrepresentation, including by omission, in an application or other document or knowingly provides any false or misleading information, including by omission, is guilty of an offence under this Act and liable on summary conviction to a fine not exceeding $1,000.

  • Marginal note:Limitation period

    (2) A prosecution for an offence under this Act may not be instituted later than six years after the time when the subject matter of the complaint arose.

  • R.S., 1985, c. S-23, s. 18
  • 2009, c. 2, s. 366

Administrative Measures

Marginal note:Administrative measures

  •  (1) If a person, in respect of a guaranteed student loan, knowingly makes any false statement or misrepresentation, including by omission, in an application or other document or knowingly provides any false or misleading information, including by omission, the Minister may

    • (a) deny the person an interest-free period under section 4 or a special interest-free period under section 10 for a prescribed period, or terminate the interest-free period or the special interest-free period;

    • (b) deny the person the deferral of payments of principal or interest under section 5 for a prescribed period, or terminate the deferral;

    • (c) deny the person payments of interest under subsection 5.1(2) for a prescribed period, or terminate the payments;

    • (d) deny the person repayment of a guaranteed student loan on an income-contingent basis referred to in paragraph 17(q) for a prescribed period, or terminate repayment on an income-contingent basis;

    • (e) deny the person a gratuitous payment referred to in paragraph 17(q.1); or

    • (f) require the person to immediately repay any outstanding amount of a guaranteed student loan that they obtained by reason of the false statement or misrepresentation or the false or misleading information.

  • Marginal note:Outstanding student loans

    (2) If, before the day on which this section comes into force, a person knowingly made any false statement or misrepresentation, including by omission, in an application or other document or knowingly provided any false or misleading information, including by omission, in respect of a guaranteed student loan that is outstanding on that day, the Minister may take any measure set out in paragraphs (1)(a) to (f).

  • Marginal note:Notice

    (3) The Minister may not take any measure under subsection (1) or (2) without having given the person 60 days’ notice of the Minister’s intention to take the measure.

  • Marginal note:Submissions

    (4) The person may make submissions to the Minister in respect of the measure at any time.

  • Marginal note:Rescission or modification of measure

    (5) The Minister may rescind or modify a measure taken under subsection (1) or (2) if new facts are presented or the Minister considers that the measure was taken without knowledge of some material fact or on the basis of a mistake concerning one.

  • Marginal note:Limitation

    (6) The Minister may not take any measure under subsection (1) or (2) later than five years after the day on which the Minister becomes aware of the false statement or misrepresentation or the false or misleading information.

  • 2009, c. 2, s. 366
 
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