O. Reg. 219/22: ONTARIO STUDENT GRANTS AND ONTARIO STUDENT LOANS
filed March 17, 2022 under Ministry of Training, Colleges and Universities Act, R.S.O. 1990, c. M.19
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made under the
Ministry of Training, Colleges and Universities Act
Made: February 24, 2022
Filed: March 17, 2022
Published on e-Laws: March 17, 2022
Printed in The Ontario Gazette: April 2, 2022
Amending O. Reg. 70/17
(ONTARIO STUDENT GRANTS AND ONTARIO STUDENT LOANS)
1. (1) Subsection 16 (1) of Ontario Regulation 70/17 is amended by adding the following paragraph:
5. The individual fails to pay all the missed monthly payments that he or she is required to make during a repayment assistance period as required under subsection 46 (1).
(2) Subsection 16 (2) of the Regulation is amended by striking out “paragraphs 1, 2 or 3” in the portion before paragraph 1 and substituting “paragraphs 1, 2, 3 or 5”.
(3) Subsection 16 (4) of the Regulation is amended by striking out “subsection (5)” at the end and substituting “subsections (5) and (5.1)”.
(4) Section 16 of the Regulation is amended by adding the following subsection:
(5.1) If a determination of ineligibility is made under this section because of the existence of circumstances described in paragraph 5 of subsection (1), the period of ineligibility shall continue until the individual is no longer ineligible for repayment assistance under section 46.
2. Clauses 40 (4) (a) and (b) of the Regulation are revoked and the following substituted:
(a) denies repayment assistance in accordance with subsection 16 (5) of this Regulation, subsection 14 (5) of the 2020 Regulation, subsection 42.1 (5) of the 2001 Regulation or subsection 13.3 (5) of the pre-2001 Regulation; or
(b) has determined that the borrower is ineligible for repayment assistance for a period of time under subsection 16 (2) of this Regulation, subsection 14 (2) of the 2020 Regulation, subsection 42.1 (2) of the 2001 Regulation or subsection 13.3 (2) of the pre-2001 Regulation.
3. (1) Clauses 41 (3) (a) and (b) of the Regulation are revoked and the following substituted:
(a) the amount obtained by the following formula:
A × B/C × 0.2
in which,
“A” is the borrower’s monthly family income,
“B” is the borrower’s total outstanding federal and provincial student loans,
“C” is the sum of the borrower’s total outstanding federal and provincial student loans and, if the borrower has a spouse, the spouse’s total outstanding federal and provincial student loans that are in repayment under the Act or under the laws of the appropriate jurisdiction; and
(b) the amount obtained by the following formula:
A × B/C × 1.5 × [(A – D)/(100 × E) + 0.01]
in which,
“A” is the borrower’s monthly family income,
“B” is the borrower’s total outstanding federal and provincial student loans,
“C” is the sum of the borrower’s total outstanding federal and provincial student loans and, if the borrower has a spouse, the spouse’s total outstanding federal and provincial student loans that are in repayment under the Act or under the laws of the appropriate jurisdiction,
“D” is the appropriate threshold amount set out in Column 2 of the Table to subsection (1) for a family with the number of members in the borrower’s family,
“E” is the monthly increment for a family with the number of members in the borrower’s family, as set out in the Table to this subsection.
(2) Subsection 41 (4) of the Regulation is revoked.
4. Subsection 46 (2) of the Regulation is revoked and the following substituted:
(2) A borrower who fails to pay all the missed monthly payments as required under subsection (1) shall no longer be eligible for repayment assistance under this Regulation unless, after the failure, the borrower pays all arrears of interest owing under the consolidated loan agreement or the arrangement established by the Minister under section 29 of this Regulation or section 29 of the 2001 Regulation, and,
(a) subject to clause (b), the greater of,
(i) two monthly payments required under subsection (1), or
(ii) two months of interest payable under the consolidated loan agreement or the arrangement established by the Minister under section 29 of this Regulation or section 29 of the 2001 Regulation; or
(b) if the borrower has exercised his or her option to pay the amount under clause (a) twice, at least two monthly payments required under the consolidated loan agreement or the arrangement established by the Minister under section 29 of this Regulation or section 29 of the 2001 Regulation.
5. Clauses 50 (3) (a) and (b) of the Regulation are revoked and the following substituted:
(a) deny the borrower the status of a qualifying student under section 25 or 26 or subsection 27 (2) during a period of study during which he or she does not receive a grant or student loan; and
(b) refuse the borrower any repayment assistance under sections 36 to 47.
Commencement
6. This Regulation comes into force on the day it is filed.