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 period during which no amount on account of principal or interest is required to be paid by the borrower is terminated in accordance with section 15.