Canada Student Loans Act

Marginal note:Regulations

17 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• (a) [Repealed, 1993, c. 12, s. 9]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 no amount on account of principal or interest is 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;

• (r) defining the expressions "full-time student", "part-time student" and "responsible officer of a lender" 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.