O. Reg. 116/07: Ontario Student Loans made before August 1, 2001

 

ontario regulation 116/07

made under the

Ministry of Training, Colleges and Universities Act

Made: March 21, 2007
Filed: March 27, 2007
Published on e-Laws: March 28, 2007
Printed in The Ontario Gazette: April 14, 2007

Amending Reg. 774 of R.R.O. 1990

(Ontario Student Loans made before August 1, 2001)

1. Subsection 9.3 (1) of Regulation 774 of the Revised Regulations of Ontario, 1990 is amended by striking out “An borrower” at the beginning and substituting “A borrower”.

2. The definitions of “family” and “family income” in subsection 9.4 (6) of the Regulation are revoked and the following substituted:

“family” includes the borrower and his or her spouse, if any, and any person who is wholly dependent on either of them;

“family income” means the borrower’s gross income and the gross income of his or her spouse, if any, from all sources, except the Universal Child Care Benefit.

3. Clause 12 (1) (c) of the Regulation is revoked and the following substituted:

(c) if, in the opinion of the Minister, he or she is unable to make the payments without incurring exceptional hardship, taking into account his or her gross income and the gross income of his or her spouse, if any, from all sources, except the Universal Child Care Benefit, and the obligations of the borrower and his or her spouse, if any, to a child or other person who is wholly dependent on either of them.

4. (1) Clause 13.2 (1) (e) of the Regulation is revoked and the following substituted:

(e) in the opinion of the Minister, the borrower is unable to repay his or her student loans without incurring exceptional hardship, taking into account the borrower’s assets and liabilities, his or her gross income and the gross income of his or her spouse, if any, from all sources, except the Universal Child Care Benefit, and the obligations of the borrower and his or her spouse, if any, to persons who are wholly dependent on either of them.

(2) Section 13.2 of the Regulation is amended by adding the following subsection:

(3) The Minister may terminate a borrower’s obligation to repay a student loan before the borrower enters into a consolidated loan agreement for the repayment of any outstanding amounts on those loans if,

(a) the borrower otherwise meets the requirements of subsection (1) or of subsection (2); and

(b) after considering the particular facts and circumstances of the borrower, the Minister determines that it is appropriate to do so.

5. (1) Paragraph 2 of subsection 13.3 (1) of the Regulation is amended by striking out “relating to a student loan” and substituting “relating to a student loan or to a program of awards, 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”.

(2) Subsection 13.3 (7) of the Regulation is revoked and the following substituted:

(7) Despite subsection (6) and subject to subsection (8), at the end of the period of ineligibility specified by the Minister in the notice under subsection (1), the Minister may, having regard to the particular facts and special circumstances of the borrower, determine that the amount of principal outstanding on student loans shall be reduced in accordance with section 9.2 if the borrower is otherwise eligible for the reduction.

(8) A reduction granted under subsection (7) shall not be granted with respect to any student loans received for a particular period of study if,

(a) the student loan was received based on incorrect or incomplete information as described in paragraphs 1 and 2 of subsection (1);

(b) the period of study in respect of which the loan was granted is the period of study during which, the borrower committed the act or omission which led to a conviction referred to in paragraph 3 of subsection (1).