O. Reg. 70/19: ONTARIO STUDENT GRANTS AND ONTARIO STUDENT LOANS

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ontario regulation 70/19

made under the

Ministry of Training, Colleges and Universities Act

Made: April 11, 2019
Filed: April 12, 2019
Published on e-Laws: April 12, 2019
Printed in The Ontario Gazette: April 27, 2019

Amending O. Reg. 70/17

(ONTARIO STUDENT GRANTS AND ONTARIO STUDENT LOANS)

1. Subsection 2 (2) of Ontario Regulation 70/17 is revoked and the following substituted:

(2) Unless otherwise specified, a reference in this Regulation to a grant is a reference to an Ontario Student Grant.

(3) In respect of a period of study beginning before August 1, 2019, an Ontario Student Grant has four components: the base component, the needs component, the top-up component and the distance component.

(4) In respect of a period of study beginning on or after August 1, 2019, an Ontario Student Grant has two components: the needs component and the distance component.

2. (1) Subsection 22 (2) of the Regulation is amended by striking out the portion before clause (a) and substituting the following:

(2) With respect to a grant issued for a period of study beginning before August 1, 2019, the conversion of a grant into a student loan in the circumstances described in clause (1) (a) or (b) occurs on the earlier of,

. . . . .

(2) Section 22 of the Regulation is amended by adding the following subsection:

(3.1) With respect to a grant issued for a period of study beginning on or after August 1, 2019, the conversion of a grant into a student loan in the circumstances described in clause (1) (a) or (b) occurs on the fifth business day of the month immediately following the month in which the individual ceased to be enrolled in an approved program of study at an approved institution or ceased taking the minimum required course load.

3. Subsection 30 (1) of the Regulation is revoked and the following substituted:

Obligation to pay interest

(1) An individual is not required to make payments towards the interest accruing under a student loan agreement or consolidated loan agreement until the first day of the month immediately after the six-month period following the month in which the individual ceased to be a qualifying student.

4. Subsection 31 (1) of the Regulation is amended by striking out “pay interest” and substituting “make payments toward the interest accruing”.

5. Subsection 33 (1) of the Regulation is amended by striking out “pay interest” in the portion before clause (a) and substituting “make payments toward the interest accruing”.

Commencement

6. (1) Subject to subsection (2), this Regulation comes into force on the day it is filed.

(2) Sections 3, 4 and 5 come into force on the later of September 1, 2019 and the day this Regulation is filed.

 

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