Canada Student Financial Assistance Regulations

12.3 Subject to paragraphs 12.1(2)(b) and 12.2(2)(b), a borrower ceases to be a part-time student on the earliest of

• (a) the last day of the last confirmed period,

• (b) the last day of the month in which the borrower no longer meets the applicable minimum percentage referred to in the definition part-time student in subsection 2(1), and

• (c) the applicable day on which the borrower’s interest-only period is terminated in accordance with section 15.