Canada Student Loans Regulations

23.1 (1) No assignment of guaranteed student loan agreements shall be made unless the borrower has

• (a) complied with paragraphs 3(1)(d) and (e), if applicable to the borrower; or

• (b) paid to the assignor lender all instalments required from the borrower in accordance with the borrower's guaranteed student loan agreements to the date of the request to assign, where none of the provisions referred to in paragraph (a) apply to the borrower.

(2) Where a borrower has both outstanding guaranteed student loan agreements for which the Minister has not paid a claim for loss and outstanding risk-shared loan agreements, those agreements must be held by the same lender.

(3) A lender that is not a lender under the Canada Student Financial Assistance Act may refuse to accept an assignment of a borrower's guaranteed loan agreements.