Canada Student Financial Assistance Regulations

28 (1) For the purposes of subsection 9.2(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, $8,000, in the case of a family physician or $4,000, in the case of a nurse or nurse practitioner;

• (b) for the second year in respect of which the borrower qualifies for loan forgiveness, $10,000, in the case of a family physician or $5,000, in the case of a nurse or nurse practitioner;

• (c) for the third year in respect of which the borrower qualifies for loan forgiveness, $12,000, in the case of a family physician or $6,000, in the case of a nurse or nurse practitioner;

• (d) for the fourth year in respect of which the borrower qualifies for loan forgiveness, $14,000, in the case of a family physician or $7,000, in the case of a nurse or nurse practitioner; and

• (e) for the fifth year in respect of which the borrower qualifies for loan forgiveness, $16,000, in the case of a family physician or $8,000, in the case of a nurse or nurse practitioner.

(2) The maximum number of years in respect of which an amount may be forgiven is five.