canada student financial assistance regulations

Canada Student Financial Assistance Regulations. Financial support for students view child links. (6) The period is equal to the number of months remaining on the borrower’s repayment assistance plan as of March 31, 2020 and it begins on October 1, 2020. 14.1 (1) The definitions in this subsection apply in this section. (4) A lender shall, without delay after the date of the notice, repay to the Minister any amount paid by the Minister as a result of the error. 16 (1) Subject to subsection (5), a borrower who has been subject to a measure taken in accordance with subsection 15(2), (3) or (4) due to the occurrence of an event referred to in paragraph 15(1)(a), (b) or (i) is entitled to a new student loan, a new certificate of eligibility, another interest-free period, further repayment assistance under section 19 or 20 or the loan forgiveness referred to in subsection 9.2(1) of the Act if. 20.3 If any accrued interest remains unpaid on the day on which repayment assistance begins, the borrower shall, on or before the day that is 30 days after the repayment assistance period ends, (a) pay to the lender or the Minister, as the case may be, the unpaid accrued interest; or. 21 (1) With the written authorization of the Minister, a lender, (a) who holds a borrower’s risk-shared loan agreement may exercise the powers given to the Minister under subsections 15(3) and (4) and sections 19 and 20; and. (5) If the borrower’s medical leave or parental leave must be further extended or the borrower is entitled to a new medical leave or a new parental leave, the borrower may, no earlier than 30 days before the end of the 12-month period referred to in subsection (4) and no later than 30 days after that period, submit a request to the Minister to extend the length of the period of postponement of repayment to 18 months. (4) A borrower shall receive no more than 60 months, in the aggregate, of special interest-free periods granted under section 19 or 20 or section 17 or 18 of the Canada Student Loans Regulations, as they read immediately before the coming into force of this section, and repayment assistance under this section, (a) in respect of any student loan or guaranteed student loan made to the borrower as a full-time student, since the applicable day referred to in subparagraph (1)(d)(i); and. The Department and the SFA Program value transparency, which means being open about the policies, guidelines and regulations that govern both ECE and SFA. (a) is the registrar of that institution or a person authorized by the registrar to act on behalf of the registrar, (b) is a student aid officer in that institution, or, (c) has the de facto capacity of the registrar of or a student aid officer in that institution; (agent de l’établissement agréé), participating province means a province other than one that has chosen not to participate in the financial assistance plan in accordance with section 14 of the Act; (province participante), part-time guaranteed loan agreement has the same meaning as in subsection 2(2) of the Canada Student Loans Regulations; (contrat de prêt garanti à temps partiel), part-time loan agreement[Repealed, SOR/2000-290, s. 1], provincial loan means a loan issued by a province for the purpose of assisting a student in the pursuit of studies at a designated educational institution; (prêt provincial), risk-shared loan means a debt obligation incurred by a qualifying student on entering into a risk-shared loan agreement and which is owed to a lender or Her Majesty in right of Canada, as represented by the Minister; (prêt à risque partagé), risk-shared loan agreement means a full-time risk-shared loan agreement, a student loan agreement or a consolidated risk-shared loan agreement and includes agreements entered into under subsection 14(3) of the Regulations, whatever the date they are entered into. (contrat de prêt à risque partagé). 20.2 A repayment assistance period shall begin no earlier than the later of. Canada Student Grants and Loans. (d) the Minister has taken a measure under subsection 20(1) of the Apprentice Loans Act. STUDENT FINANCIAL ASSISTANCE ACT 4 Act (Canada) whose operation and administration have been assigned to the Minister or the Government, and (b) the apportionment and distribution of financial assistance and of monetary assistance under any such federal program. (b) unforeseen and unavoidable circumstances beyond the control of the borrower or their spouse or common-law partner have led to the borrower incurring extraordinary expenses. Assented to 1994-06-23. (a) is qualified for enrolment or is enrolled as a part-time student; (c.1) has successfully completed all courses in respect of which a grant was previously made to the student under this section; and. 7.1 (1) The following definitions apply in this section and in section 12.21. medical leave means a leave from studies taken by a borrower as a result of a medical problem that, in the opinion of a medical professional, would significantly interfere with the borrower’s ability to pursue their program of studies. (congé pour raisons médicales), parental leave means a leave from studies taken by a borrower as a result of the birth of a child of the borrower, the adoption of a child by the borrower, or the commencement of the guardianship or tutorship of a child by the borrower. (congé parental), period of postponement of repayment means the period during which, by reason of a medical leave or parental leave, a borrower is not required to repay the principal amount of a student loan and no interest is payable. (différé de remboursement), (2) The Minister may, on application, grant a borrower who ceases to be a full-time student on or after October 1, 2020 a period of postponement of repayment by reason of medical leave or parental leave, if the borrower submits the application in the form and manner specified by the Minister in the six months after the end of the borrower’s most recent period of studies, but no later than 12 months after, (a) in the case of a medical leave, the date specified by the medical professional; or. (b) that includes the borrower’s social insurance number. (c) the applicable day, other than the applicable day referred to in paragraph 15(1)(j), on which the borrower’s interest-free period is terminated in accordance with section 15. (i) one or two dependants, the amount determined by the following formula, to a maximum of $40 per week of study: (ii) three or more dependants, the amount determined by the following formula, to a maximum of $60 per week of study: (3) Despite subsection (2), the grant for the loan year commencing on August 1, 2020 is the lesser of. (2) The Minister shall provide a notice of the cancellation or reduction to the borrower, in the case of a direct loan, and to the borrower and the lender, in all other cases, specifying. 23 (1) The Minister shall, on the written request of the borrower and based on documentary evidence provided by the borrower, reconsider a borrower’s application for repayment assistance if, (a) the borrower’s application has been rejected for the sole reason that the borrower did not meet the criterion set out in paragraph 19(1)(e) or 20(1)(c); and. 11.1 The principal amount of a student loan made to the borrower as a full-time student, and any interest, commence to be payable by the borrower on the last day of the seventh month after the day on which the borrower most recently ceased to be a full-time student under section 8. (3) An appropriate authority or other body shall repay to the Minister any money provided for a loan year that is not given as grants in accordance with this Part. (b) that is 2 years after the day on which the borrower’s service on the designated operation ended. (a) they have entered into a direct student loan agreement with the Minister; (b) an officer of the designated educational institution or the appropriate authority, as the case may be, has submitted a confirmation of enrolment to the Minister and to the branch of any lender to which the student is indebted under a full-time risk-shared loan agreement or guaranteed student loan agreement; and. (3) A borrower shall, within 30 days after the date of the notice, (a) repay to the Minister or the lender, as the case may be, the amount of repayment assistance that the borrower was not entitled to receive; or. Canada Student Financial Assistance Regulations. (a) a bank or authorized foreign bank within the meaning of the Bank Act. . (2) Subject to subsection (5) a borrower may request the transfer of all of the borrower’s outstanding risk-shared loan agreements if the following conditions are met: (a) the borrower completes the prescribed form to request a transfer of risk-shared loan agreements, (b) the borrower submits the completed form to the transferor branch, and. (5) A borrower who has been granted a period of postponement of repayment cannot submit a new application for postponement of repayment by reason of a new medical leave or a new parental leave for 30 days after the first day of the current confirmed period. (b) $8,000, in the case of a family physician or $4,000, in the case of a nurse or nurse practitioner. (iii) is pursuing education at a post-secondary level within four years of leaving secondary school, (iv) has not been in the labour force for more than two periods of 12 consecutive months since leaving secondary school, and, (v) is not applying for assistance under Part V or VII; and, (c) the borrower or student, in any other case; (revenu familial), family physician means a person who is entitled under the laws of a province to practise family medicine and who is so practising or who is in a family medicine residency program accredited by the College of Family Physicians of Canada; (médecin de famille), financial assistance means any form of financial aid provided under the Act, including student loans; (aide financière). (e) is not denied further student loans under section 15. (2) The student loans that will be taken into consideration for the purposes of determining this amount are. (force de réserve). (e) the borrower’s monthly affordable payment calculated under subsection (2) is less than their monthly required payment calculated under subsection (3). (d) the borrower has, on request, paid to the Minister or any lender, as the case may be, any interest payable on any outstanding loan, to the day before the first day of the confirmed period. (2) A qualifying student who has no outstanding student loan or guaranteed student loan made to them as a full-time student and who meets the conditions referred to in paragraphs (1)(a) to (d) becomes a full-time student on the later of the day on which the confirmation of enrolment is received by the Minister and the day on which they enter into the full-time direct loan agreement. SOR/2012-254, s. 8 (iii) $6,000 or more but less than $8,000, three years, (iv) $8,000 or more but less than $10,000, four years, and, (b) if the person is not a qualifying student, five years; and. (a) an event referred to in paragraph 15(1)(h), (j) or (k) has not occurred in respect of the borrower’s student loans or guaranteed student loans; (b) the borrower has complied with paragraph (1)(c) or (d), as the case may be, in the case where the borrower’s consumer proposal has been annulled or deemed annulled or the borrower is no longer subject to a provincial law relating to the orderly payment of debts for a reason other than full compliance with that law, and an event referred to in paragraph 15(1)(c), (d) or (f) has not occurred; (c) the borrower has been released of the borrower’s student loans and guaranteed student loans, in any case other than a case described in paragraph (b); or. (l) the day on which, as the case may be, the obligations referred to in section 11 of the Act or the rights referred to in section 11.1 of the Act or section 13 of the Canada Student Loans Act, are terminated. (2) The grant for each loan year is the lesser of. You may also view all EDSC acts and regulations. (5) When the outstanding balance of the principal amount of a guaranteed student loan and any accrued interest become payable under paragraph (1)(h) or (i), the Minister shall, in addition to the measures taken under subsections (3) and (4), terminate any repayment assistance granted to the borrower under section 19 or 20 of the Canada Student Financial Assistance Regulations and refuse … (ii) at least 60 per cent of a course load recognized by the designated educational institution as constituting a full-time course load, in any other case, (b) whose primary occupation during the confirmed periods within that period of studies is the pursuit of studies in those courses, and, (c) who meets the requirements of subsection 5(1) or 7(1) or section 33, as the case may be; (étudiant à temps plein), loan year means the period commencing on August 1 in any year and ending on July 31 in the following year; (année de prêt), nurse means a person who is entitled under the laws of a province to practise as a nurse and who is so practising; (infirmier), nurse practitioner means a person who is entitled under the laws of a province to practise as a nurse practitioner and who is so practising; (infirmier practicien), (a) who, during a confirmed period within a period of studies, is enrolled in courses that constitute at least 20 per cent and less than 60 per cent of a course load recognized by the designated educational institution as constituting a full course load and, where that person has a permanent disability and is enrolled in courses that constitute at least 40 per cent of such a full course load, elects to be considered as a part-time student, and, (b) who complies with the requirements of subsection 12(1), 12.1(1) or 12.2(1) or section 33, as the case may be; (étudiant à temps partiel), period of studies means the length of time that a designated educational institution considers to be a normal school year for the program of studies in which the qualifying student or the borrower is enrolled and that, where the period between the day on which that person ceased to be a full-time student pursuant to section 8 or a part-time student pursuant to section 12.3, as the case may be, and the first day of the first confirmed period of the current school year is less than six months, includes that period; (période d’études), permanent disability means a functional limitation caused by a physical or mental impairment that restricts the ability of a person to perform the daily activities necessary to participate in studies at a post-secondary school level or the labour force and is expected to remain with the person for the person’s expected life; (invalidité permanente), post-secondary school level means education at a university or college level, including education of a technical or vocational nature; (niveau postsecondaire), program of studies means the series of periods of studies. (2) The maximum number of years in respect of which an amount may be forgiven is five. (a) the borrower meets the conditions set out in paragraphs 19(1)(a) and (c); (ii) has received 60 months, in the aggregate, of the periods referred to in subsection 19(4) or at least 120 months has elapsed, (A) in respect of any student loan or guaranteed student loan made to the borrower as a full-time student, since the applicable day referred to in subparagraph 19(1)(d)(i), and, (B) in respect of any student loan made to the borrower as a part-time student, since the applicable day referred to in subparagraph 19(1)(d)(ii); and. (a) the amount the qualifying student needs as determined under subsection 12(2) of the Act; (b) in the case of an eligible student who has. (b) a credit union, caisse populaire or other cooperative credit society, (c) a company within the meaning of the Trust and Loans Company Act, or, (d) Canada Post Corporation; (institution financière), (a) who, during a confirmed period within a period of studies, is enrolled in courses that constitute, (i) at least 40 per cent and less than 60 per cent of a course load recognized by the designated educational institution as constituting a full course load, in the case of a person who has a permanent disability and elects to be considered as a full-time student, or. (5) The following definitions apply in this section: designated operation means an operation that is designated under paragraph 247.5(1)(a) of the Canada Labour Code. 19.1 (1) A borrower shall, no later than the day that is 30 days after a repayment assistance period ends, pay to the lender or the Minister, as the case may be, the federal portion of the monthly affordable payments calculated under subsection 19(2) in respect of that period. 40.02 (1) The Minister, an appropriate authority or a body authorized by the Minister for a province may make a grant to a qualifying student who. (a) the borrower or student and their spouse or common-law partner, in the case of a borrower or student who is married or has a common-law partner, (b) the parents of the student, in the case of a full-time student who. (a) is qualified for enrolment or is enrolled as a full-time student in a program of studies of at least two years’ duration that leads to a degree, certificate or diploma not beyond the undergraduate level; (2) The maximum amount of the grant for each month of study shall be the lesser of $375 and the amount determined by the following formula: (2.1) Despite subsection (2), for the loan year commencing on August 1, 2020, the maximum amount of the grant for each month of study shall be the lesser of $750 and the amount determined by the following formula: (3) In addition to the grant given in accordance with subsection (2) or (2.1), a student is entitled to receive financial assistance in the amount of $200 for each month of study if at least 10 years have passed between leaving secondary school and the confirmed period. and Regulation(s) and/or the applicable Provincial Act(s) and Regulation(s) relating to student and/or apprentice financial assistance including for administration, enforcement, debt collection, audit, verification, research, and evaluation purposes. (c) if administrative measures have already been taken in respect of the person under section 17.1 of the Act or section 18.1 of the Canada Student Loans Act, five years. (3) If the Minister grants the borrower’s application, the borrower is deemed to continue to be a full-time student despite section 8 for a six-month period beginning on the first day of the month after the month in which they would otherwise have ceased to be a full-time student. (3) An assignee lender may require that the borrower enter into new agreements with the lender in the form approved by the Minister for that lender and, where such a requirement is imposed, the assignment shall take effect on the day those agreements are entered into. (5) An assignment made in accordance with this section shall take effect on the day before the day of the payment referred to in subsection (4). (b) paid to the assignor lender all instalments required from the borrower in accordance with that borrower’s risk-shared loan agreements to the date of the request to assign, where none of the provisions referred to in paragraph (a) apply to the borrower. 4 to 7 Repealed 2017 c16 s9. (ii) 120 months minus the number of months that have elapsed since the applicable day referred to in subparagraph (1)(d)(i) plus the number of months since that day during which the borrower benefited from any special interest-free periods under section 19 or 20 or section 17 or 18 of the Canada Student Loans Regulations, as they read immediately before the coming into force of this section, or repayment assistance under this section; (b) the outstanding principal of the student loans made to the borrower as a part-time student, amortized over a period of the greater of, (ii) 120 months minus the number of months that have elapsed since the applicable day referred to in subparagraph (1)(d)(ii), plus the number of months since that day during which the borrower benefited from any special interest-free periods under section 19 or 20 as they read immediately before the coming into force of this section, or repayment assistance under this section; and. 14 (1) No assignment of risk-shared loan agreements shall be made unless the borrower has, (a) complied with subparagraphs 6(1)(d)(i) and (e)(i) or 7(1)(d)(i) and (e)(i) or 12.1(1)(d)(i) or 12.2(1)(d)(i), where applicable to the borrower, or. (a) if the Minister is informed that the borrower has failed to consolidate risk-shared loans or guaranteed student loans made to them as a full-time student within six months after the month in which they ceased to be a full-time student and they do not fulfil the requirements of subsection 5(1) or 7(1) before a judgment is obtained against them and such that the beginning of the last confirmed period is on or before the last day of that six-month period, the day following the last day of that confirmed period; (b) if the Minister is informed that the borrower has failed to make a required payment within the two-month period after the payment was required under their loan agreement, guaranteed student loan agreement, these Regulations or the Canada Student Loans Regulations and they do not fulfil the requirements of subsection 5(1), 7(1), 12.1(1) or 12.2(1), as the case may be, within that period, the day following the last day of that period; (c) where the borrower makes an assignment under the Bankruptcy and Insolvency Act that is filed and not cancelled, is deemed under that Act to have made an assignment, or is the subject of a receiving order, the earlier of the day on which a receiving order is made or the assignment is filed with the official receiver; (d) where the borrower makes a proposal under Division I of Part III the Bankruptcy and Insolvency Act that is approved by a court under that Act, the day on which that proposal is approved; (e) where the borrower makes a consumer proposal under Division II of Part III of the Bankruptcy and Insolvency Act that is approved or deemed approved by a court under that Act, the date on which the consumer proposal is approved or deemed approved; (f) where the borrower applies for a consolidation order under Part X of the Bankruptcy and Insolvency Act that includes a student loan or guaranteed student loan, the date on which that order is issued; (g) where the borrower seeks relief under a provincial law relating to the orderly payment of debts that includes a student loan or guaranteed student loan, the day on which the document seeking relief is filed; (h) where the borrower is, by reason of the borrower’s conduct in obtaining or repaying a student loan or guaranteed student loan, found guilty of an offence under any Act of Parliament, the day of the finding of guilt; (i) if the borrower fails to comply with subsection 19.1(1) or 20.1(1), section 20.3 or subsection 24(3), the 30th day after the end of the applicable repayment assistance period or after the day of the notice, as the case may be; (j) the last day of the confirmed period during which the borrower has been a full-time student for. 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