Canada Student Loans Regulations

18 (1) Subject to subsection (3), for the purposes of section 11.1 of the Act, the Minister may forgive the lesser of the outstanding principal of the borrower’s student loan and

• (a) for the first year in respect of which the borrower qualifies for loan forgiveness,

  • (i) $8,000 in the case of a family physician, dentist, pharmacist or psychologist,

  • (ii) $4,000 in the case of a nurse, nurse practitioner, midwife, teacher, social worker or physiotherapist, or

  • (iii) $2,000 in the case of an early childhood educator, dental hygienist or personal support worker;

• (b) for the second year in respect of which the borrower qualifies for loan forgiveness,

  • (i) $10,000 in the case of a family physician, dentist, pharmacist or psychologist,

  • (ii) $5,000 in the case of a nurse, nurse practitioner, midwife, teacher, social worker or physiotherapist, or

  • (iii) $2,500 in the case of an early childhood educator, dental hygienist or personal support worker;

• (c) for the third year in respect of which the borrower qualifies for loan forgiveness,

  • (i) $12,000 in the case of a family physician, dentist, pharmacist or psychologist,

  • (ii) $6,000 in the case of a nurse, nurse practitioner, midwife, teacher, social worker or physiotherapist, or

  • (iii) $3,000 in the case of an early childhood educator, dental hygienist or personal support worker;

• (d) for the fourth year in respect of which the borrower qualifies for loan forgiveness,

  • (i) $14,000 in the case of a family physician, dentist, pharmacist or psychologist,

  • (ii) $7,000 in the case of a nurse, nurse practitioner, midwife, teacher, social worker or physiotherapist, or

  • (iii) $3,500 in the case of an early childhood educator, dental hygienist or personal support worker; and

• (e) for the fifth year in respect of which the borrower qualifies for loan forgiveness,

  • (i) $16,000 in the case of a family physician, dentist, pharmacist or psychologist,

  • (ii) $8,000 in the case of a nurse, nurse practitioner, midwife, teacher, social worker or physiotherapist, or

  • (iii) $4,000 in the case of an early childhood educator, dental hygienist or personal support worker.

(2) The maximum number of years in respect of which an amount may be forgiven in respect of a guaranteed student loan is five minus the number of years in respect of which an amount has been forgiven under subsection (1) in respect of a previous guaranteed student loan or under subsection 28(1) of the Canada Student Financial Assistance Regulations.

(3) The amount that the Minister may forgive for a year is to be reduced by any amount that was forgiven for that year under section 9.2 of the Canada Student Financial Assistance Act.