Canada Student Financial Assistance Regulations

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

• (a) obtain 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,

  • (i) in the case of a first disbursement authorized by the certificate of eligibility, on the confirmation of enrolment portion of that certificate, and

  • (ii) in the case of a second disbursement authorized by the certificate of eligibility, on a confirmation of enrolment not forming part of that certificate;

• (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, or

  • (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) subject to subsection (3), where more than six months have elapsed between the day on which the student ceased to be a full-time student pursuant to section 8 and the first day of the current confirmed period,

  • (i) if the student is indebted under any full-time risk-shared loan agreement or guaranteed student loan agreement entered into as a full-time student, pay to the lender any interest accrued under those agreements to the day before the first day of the confirmed period, and

  • (ii) if the student is indebted under any full-time direct loan agreement, pay to the Minister any interest accrued under that agreement to the day before the first day of the confirmed period;

• (e) subject to subsection (3), where the qualifying student submits the confirmation of enrolment later than six months after the day the student ceased to be a full-time student pursuant to section 8 but before the last day of the confirmed period that started within the six-month period,

  • (i) if the student is indebted under any full-time risk-shared loan agreement or guaranteed student loan agreement entered into as a full-time student, either

    • (A) pay to the lender the interest accrued under those agreements from the day on which that student ceased to be a full-time student to the day before the day on which the qualifying student enters into a full-time risk-shared loan agreement pursuant to subparagraph (f)(i) or a full-time direct loan agreement pursuant to subparagraph (f)(ii), or

    • (B) enter into a consolidated risk-shared loan agreement or a consolidated guaranteed student loan agreement with the lender in which the unpaid accrued interest referred to in clause (A) is added to the principal amount;

  • (ii) if the student is indebted under any full-time direct loan agreement, either

    • (A) pay to the Minister the interest accrued under that agreement from the day on which that student ceased to be a full-time student to the day before the day on which the qualifying student enters into a full-time direct loan agreement pursuant to subparagraph (f)(ii), or

    • (B) enter into a consolidated direct loan agreement with the Minister in which the unpaid accrued interest referred to in clause (A) is added to the principal amount; and

• (f) enter into

  • (i) a full-time risk-shared loan agreement with the lender, or

  • (ii) a full-time direct loan agreement with the Minister.

(2) Where the qualifying student referred to in subsection (1) meets the requirements set out in that subsection,

• (a) that student again becomes a full-time student on the day on which that student meets those requirements, where paragraph (1)(d) or (e) applies in respect of that student; and

• (b) that student continues to be a full-time student on and after the day following the day on which that student would otherwise have ceased to be a full-time student, in any other case.

(3) Paragraphs (1)(d) and (e) do not apply where the qualifying student has complied with section 7 in respect of the confirmed period specified in the confirmation of enrolment referred to in those paragraphs.