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Canada Student Financial Assistance Regulations (SOR/95-329)

Regulations are current to 2020-07-28 and last amended on 2020-01-01. Previous Versions

AMENDMENTS NOT IN FORCE

  • — SOR/2018-31, s. 7(3)

      • 7 (3) The description of B in subsection 38.1(2) of the Regulations is replaced by the following:

        B
        is the result obtained by subtracting the applicable annual income threshold for their family size in accordance with Table 3 of Schedule 4 from the student’s family income from the previous year, and
  • — SOR/2018-31, s. 9(3)

      • 9 (3) The description of B in subsection 40.02(2) of the Regulations is replaced by the following:

        B
        is the result obtained by subtracting the applicable annual income threshold for their family size in accordance with Table 6 of Schedule 4 from the student’s family income from the previous year, and
  • — SOR/2018-31, s. 9(5)

      • 9 (5) Subsection 40.02(3) of the Regulations is repealed.

  • — SOR/2019-214, s. 2

    • 2 Paragraph 15(1)(k) of the Regulations is replaced by the following:

      • (k) if the borrower has been granted repayment assistance under subparagraph 20(1)(b)(ii), the day on which the repayment assistance begins; or

  • — SOR/2020-144, s. 1

  • — SOR/2020-144, s. 2

    • 2 Section 19 of the Regulations is amended by adding the following after subsection (4):

      • (5) The monthly affordable payment set out in a repayment assistance plan of a borrower who was receiving repayment assistance under this section on March 31, 2020 is, for the period described in subsection (6), deemed to be $0 if

        • (a) the borrower’s monthly affordable payment calculated under subsection (2) was greater than $0; and

        • (b) the borrower was not in arrears of any payments under the plan on March 31, 2020.

      • (6) The period is equal to the number of months remaining on the borrower’s repayment assistance plan as of March 31, 2020 and it begins on October 1, 2020.

  • — SOR/2020-144, s. 3

    • 3 Section 38 of the Regulations is amended by adding the following after subsection (3):

      • (4) Despite subsection (3), the grant for the loan year commencing on August 1, 2020 shall not exceed the lesser of

        • (a) the amount the student needs as determined under subsection 12(2) of the Act,

        • (b) $3,600, and

        • (c) the amount determined by the following formula:

          A – (B × C)

          where

          A
          is $3,600,
          B
          is the result obtained by subtracting the applicable annual income threshold for their family size in accordance with Table 7 of Schedule 4 from the student’s family income, and
          C
          is the annual phase-out rate set out in column 3 of Table 7 of Schedule 4.
  • — SOR/2020-144, s. 4

    • 4 Section 38.1 of the Regulations is amended by adding the following after subsection (2):

      • (3) Despite subsection (2), the grant for the loan year commencing on August 1, 2020 is, for each dependant for each month of study, the lesser of $400 and the amount determined by the following formula:

        A − (B × C)

        where

        A
        is $400;
        B
        is the result obtained by subtracting the applicable annual income threshold for their family size in accordance with Table 8 of Schedule 4 from the student’s family income; and
        C
        is the monthly phase-out rate set out in column 3 of Table 8 of Schedule 4.
  • — SOR/2020-144, s. 5

      • 5 (1) Paragraph 38.2(1)(c) of the Regulations is replaced by the following:

        • (c) needs an amount as determined under subsection 12(2) of the Act in excess of the maximum amount payable to the student under subsection 38(3) or (4);

      • (2) Section 38.2 of the Regulations is amended by adding the following after subsection (2):

        • (3) Despite subsection (2), the grant for the loan year commencing on August 1, 2020 is the lesser of

          • (a) the amount the qualifying student needs as determined under subsection 12(2) of the Act;

          • (b) in the case of an eligible student who has

            • (i) one or two dependants, the amount determined by the following formula, to a maximum of $80 per week of study:

              (A – (B × C)) × D

              where

              A
              is $80,
              B
              is the result obtained by subtracting the applicable annual income threshold for their family size in accordance with Table 9 of Schedule 4 from the student’s family income,
              C
              is the weekly phase-out rate set out in column 3 of Table 9 of Schedule 4, and
              D
              is the number of weeks of study, and
            • (ii) three or more dependants, the amount determined by the following formula, to a maximum of $120 per week of study:

              (A – (B × C)) × D

              where

              A
              is $120,
              B
              is the result obtained by subtracting the applicable annual income threshold for their family size in accordance with Table 10 of Schedule 4 from the student’s family income,
              C
              is the weekly phase-out rate set out in column 3 of Table 10 of Schedule 4, and
              D
              is the number of weeks of study; and
          • (c) $3,840.

  • — SOR/2020-144, s. 6

    • 6 Section 40.01 of the Regulations is amended by adding the following after subsection (3):

      • (4) Despite subsection (3), the grant for the loan year commencing on August 1, 2020 shall be $4,000.

  • — SOR/2020-144, s. 7

    • 7 Subsection 40.02(3) of the Regulations is replaced by the following:

      • (2.1) Despite subsection (2), for the loan year commencing on August 1, 2020, the maximum amount of the grant for each month of study shall be the lesser of $750 and the amount determined by the following formula:

        A – (B x C)

        where

        A
        is $750;
        B
        is the result obtained by subtracting the applicable annual income threshold for their family size in accordance with Table 11 of Schedule 4 from the student’s family income; and
        C
        is the monthly phase-out rate set out in column 3 of Table 11 of Schedule 4.
      • (3) In addition to the grant given in accordance with subsection (2) or (2.1), a student is entitled to receive financial assistance in the amount of $200 for each month of study if at least 10 years have passed between leaving secondary school and the confirmed period.

  • — SOR/2020-144, s. 8

    • 8 Schedule 4 to the Regulations is amended by replacing the references after the heading “ SCHEDULE 4” with the following:

      (Paragraphs 14.3(b) and 38(1)(d), (3)(c) and (4)(c), subsections 38.1(2) and (3), paragraphs 38.2(2)(b) and (3)(b) and subsections 40.02(2) and (2.1) and 40.021(1))
  • — SOR/2020-144, s. 9

    • 9 Schedule 4 to the Regulations is amended by adding the following after Table 6:

      TABLE 7

      Income Threshold for Eligibility for Grants for Loan Year 2020-2021 — Part-time Students

      Column 1Column 2Column 3
      Family Size (number of persons)Annual Income ThresholdAnnual Phase-out Rate
      1$31,8680.11423856820994500
      2$45,0680.08255933952528380
      3$55,1960.07103954534690980
      4$63,7350.06815987276823750
      5$71,2580.06528006963207430
      6$78,0600.06240033280177490
      7 or more$84,3130.06047980646461930

      TABLE 8

      Income Threshold for Eligibility for Grants for Loan Year 2020-2021 — Full-time Students with Dependants

      Column 1Column 2Column 3
      Family Size (number of persons)Annual Income ThresholdMonthly Phase-out Rate
      2$45,0680.00917325994725376
      3$55,1960.00789328281632331
      4$63,7350.00757331919647083
      5$71,2580.00725334107023048
      6$78,0600.00693337031130833
      7 or more$84,3130.00671997849606881

      TABLE 9

      Income Threshold for Eligibility for Grants for Loan Year 2020-2021 — Part-time Students with One or Two Dependants

      Column 1Column 2Column 3
      Family Size (number of persons)Annual Income ThresholdWeekly Phase-out Rate
      2$45,0680.00183465198945075
      3$55,1960.00157865656326466
      4$63,7350.00151466383929417
      5$71,2580.00145066821404609
      6$78,0600.00138667406226167
      7 or more$84,3130.00134399569921376

      TABLE 10

      Income Threshold for Eligibility for Grants for Loan Year 2020-2021 — Part-time Students with Three or More Dependants

      Column 1Column 2Column 3
      Family Size (number of persons)Annual Income ThresholdWeekly Phase-out Rate
      4$63,7350.00227199575894125
      5$71,2580.00217600232106914
      6$78,0600.00208001109339250
      7 or more$84,3130.00201599354882064

      TABLE 11

      Income Threshold for Eligibility for Grants for Loan Year 2020-2021 — Full-time Students

      Column 1Column 2Column 3
      Family Size (number of persons)Annual Income ThresholdMonthly Phase-out Rate
      1$31,8680.0238
      2$45,0680.0172
      3$55,1960.0148
      4$63,7350.0142
      5$71,2580.0136
      6$78,0600.0130
      7 or more$84,3130.0126
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