Canada Student Loans Act

Marginal note:Interest-free period — loan made on or after August 1, 1993

• 22.1 (1) If a borrower ceased to be a full-time student at any time during the six months before the day on which section 323 of the Budget Implementation Act, 2019, No. 1 comes into force, no interest is payable by them on a guaranteed student loan referred to in subsection 4(2), as it read on November 1, 2019, for the period that begins on that day and ends on the last day of the sixth month after the month in which the borrower ceased to be a full-time student.

• Marginal note:Interest-free period — loan consolidated after August 1, 1993

  (2) If a borrower referred to in subsection 4(4), as it read on November 1, 2019, ceased to be a full-time student at any time during the six months before the day on which section 323 of the Budget Implementation Act, 2019, No. 1 comes into force, no interest is payable by them on a guaranteed student loan referred to in that subsection for the period that begins on that day and ends on the last day of the sixth month after the month in which the borrower ceased to be a full-time student.