Canada Student Financial Assistance Regulations

12.1 (1) Subject to section 15, in order to obtain a student loan, a qualifying student to whom a certificate of eligibility as a part-time student has been issued and who has any outstanding student loan or guaranteed student loans made to that student as a part-time student shall

• (a) obtain, on the confirmation of enrolment portion of the certificate of eligibility issued to that student, the signature of an officer of the designated educational institution at which the student is enrolled or the signature of the appropriate authority that issued that certificate of eligibility, where the designated educational institution has authorized that authority to act as an agent of that institution for such a purpose and has notified the Minister of that authorization;

• (b) sign the consent and certification portion;

• (c) within 30 days after the signing of the confirmation of enrolment but before the end of the confirmed period, submit the certificate of eligibility and, where section 4 applies, the written authorization referred to in that section,

  • (i) in order to obtain a risk-shared loan, to the branch of the lender to which the student is indebted under any risk-shared loan agreement or guaranteed student loan agreement,

  • (ii) in order to obtain a direct loan,

    • (A) to the Minister, and

    • (B) to the branch of the lender to which the student is indebted under any risk-shared loan agreement or guaranteed student loan agreement, if any;

• (d) on request, pay to the Minister or the lender, as the case may be, any interest payable on those loans to the day before the first day of the confirmed period; and

• (e) enter into

  • (i) a student loan agreement with the lender, or

  • (ii) a direct student loan agreement with the Minister.

(2) A qualifying student that meets the requirements set out in subsection (1)

• (a) again becomes a part-time student on the day on which that student meets those requirements, where more than six months have elapsed between the last day of the previous confirmed period and the first day of the current confirmed period; and

• (b) continues to be a part-time student on and after the day following the last day of the previous confirmed period, where not more than six months have elapsed between the last day of that period and the first day of the current confirmed period.

(3) Where a student is indebted to

• (a) a lender under a student loan agreement, a further risk-shared loan made to that student as a part-time student in accordance with this section shall be a revision to, and form a part of, that agreement; and

• (b) the Minister under a direct student loan agreement, a further direct loan made to that student as a part-time student in accordance with this section shall be a revision to, and form a part of, that agreement.