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O. Reg. 770/20: ONTARIO STUDENT LOANS MADE AUGUST 1, 2001 TO JULY 31, 2017

filed December 17, 2020 under Ministry of Training, Colleges and Universities Act, R.S.O. 1990, c. M.19

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ontario regulation 770/20

made under the

Ministry of Training, Colleges and Universities Act

Made: December 11, 2020
Filed: December 17, 2020
Published on e-Laws: December 18, 2020
Printed in The Ontario Gazette: January 2, 2021

Amending O. Reg. 268/01

(ONTARIO STUDENT LOANS MADE AUGUST 1, 2001 TO JULY 31, 2017)

1. (1) Subsection 2 (1) of Ontario Regulation 268/01 is amended by adding the following definitions:

“2020 Regulation” means Ontario Regulation 768/20 (Ontario Student Grants and Ontario Student Loans for Micro-Credentials) made under the Act; (“Règlement de 2020”)

“consolidated micro-credential loan agreement” has the same meaning as in the 2020 Regulation; (“contrat de prêt consolidé pour une microcertification”)

“micro-credential grant” has the same meaning as in the 2020 Regulation; (“subvention pour une microcertification”)

“micro-credential student loan” has the same meaning as in the 2020 Regulation; (“prêt d’études pour une microcertification”)

“micro-credential student loan agreement” has the same meaning as in the 2020 Regulation; (“contrat de prêt d’études pour une microcertification”)

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

(3) Unless otherwise specified, a reference in this Regulation to a grant, student loan or loan does not include a reference to a micro-credential grant or micro-credential student loan.

2. Subsections 26 (1) and (2) of the Regulation are revoked and the following substituted:

(1) While an individual is a qualifying student, his or her obligations to pay principal and interest under a student loan agreement, a master student loan agreement, a consolidated loan agreement, micro-credential student loan agreement and consolidated micro-credential loan agreement, if any, are suspended.

(2) If the individual owes interest to the Minister under the student loan agreement, master student loan agreement, consolidated loan agreement, micro-credential student loan agreement or consolidated micro-credential loan agreement, if any, for a period during which he or she was not a qualifying student, and if the Minister asks the individual to pay the accrued interest for that period, subsection (1) does not apply until the individual pays the accrued interest.

3. (1) Paragraphs 2 and 3 of subsection 42.1 (1) of the Regulation are revoked and the following substituted:

2. The individual has given the Minister incorrect information relating to a student loan or a micro-credential student loan or to a program of awards, grants, micro-credential grants or bursaries made by the Government of Ontario, the Government of Canada or the government of any other province or territory of Canada or of any other country, or has not informed the Minister promptly about any change to information previously given to the Minister.

3. The individual has been convicted of an offence under the Ministry of Training, Colleges and Universities Act, the Canada Student Loans Act or the Canada Student Financial Assistance Act or an offence under the Criminal Code (Canada) involving fraud or theft in respect of any student assistance program or a loan, grant or award, including a micro-credential student loan or micro-credential grant, made by the Government of Ontario, the Government of Canada or the government of any other province or territory.

(2) Subsection 42.1 (2) of the Regulation is amended by striking out the portion before paragraph 1 and substituting the following:

(2) If any of the circumstances described in paragraphs 1, 2 or 3 of subsection (1) exist, the Minister may determine that the individual, in addition to being ineligible for a certificate of loan approval, shall, for such period as the Minister may determine, not be eligible for any of the following types of benefits available under this Regulation or the 2020 Regulation with respect to the repayment of the individual’s outstanding student loans and outstanding micro-credential student loans:

. . . . .

(3) Subsection 42.1 (2) of the Regulation is amended by adding the following paragraph:

1.1 Retaining the status of a qualifying student under section 23 or 24 of the 2020 Regulation during a period of study during which the individual does not receive a micro-credential student loan or micro-credential grant.

(4) Clause 42.1 (5) (b) of the Regulation is amended by striking out the portion before subclause (i), and subclauses (i) and (ii) and substituting the following:

(b) the day the individual repays all amounts of principal and interest outstanding on student loans and micro-credential student loans previously made to the individual under the Act and repays to the Minister any of the following amounts that the Minister may require the individual to repay in the notice of determination:

(i) Any awards, grants or micro-credential grants made to the individual by the Minister.

(ii) The amount of any interest paid by the Minister on behalf of the individual as a result of an individual’s obligations to pay principal and interest being suspended under section 26 of this Regulation and section 22 of the 2020 Regulation.

Commencement

4. This Regulation comes into force on the day it is filed.

 

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