Canada Student Financial Assistance Regulations

7 (1) Subject to section 15, a borrower shall, in order to continue to be or again become a full-time student,

• (a) within 30 days after obtaining confirmation of their enrolment from an officer of the designated educational institution at which they are enrolled but before the end of the confirmed period, submits the confirmation of enrolment

  • (i) to the Minister, if they are indebted under a direct loan agreement, and

  • (ii) to the branch of the lender to which they are indebted under a risk-shared loan agreement or guaranteed student loan agreement;

• (b) when more than six months have elapsed between the day on which they ceased to be a full-time student under section 8 and the first day of the current confirmed period,

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

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

• (c) if the confirmation of enrolment is submitted more than six months after the day that they ceased to be a full-time student under section 8 but before the last day of the confirmed period that started within the six-month period and

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

    • (A) pay to the lender the interest accrued under those agreements from the day after they ceased to be a full-time student, or

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

  • (ii) if they are indebted under any full-time direct loan agreement, either

    • (A) pay to the Minister the interest accrued under that agreement from the day after they ceased to be a full-time student, or

    • (B) directs the addition of the unpaid accrued interest referred to in clause (A) to the outstanding principal.

(2) A borrower who meets the conditions referred to in paragraph (1)(a)

• (a) in the case where they meet the conditions of paragraph (1)(b) or (c), again becomes a full-time student on the day on which they meet those conditions; or

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