O. Reg. 771/20: ONTARIO STUDENT LOANS MADE BEFORE AUGUST 1, 2001
filed December 17, 2020 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: December 11, 2020
Filed: December 17, 2020
Published on e-Laws: December 18, 2020
Printed in The Ontario Gazette: January 2, 2021
Amending Reg. 774 of R.R.O. 1990
(ONTARIO STUDENT LOANS MADE BEFORE AUGUST 1, 2001)
1. (1) Subsection 1 (1) of Regulation 774 of the Revised Regulations of Ontario, 1990 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 1 of the Regulation is amended by adding the following subsection:
(5) 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. Section 11.2 of the Regulation is amended by adding the following subsections:
(1.1) While a borrower is deemed, under subsection 11 (5) or 11.1 (3), to be a student, his or her obligations to pay principal and interest under a micro-credential student loan agreement and consolidated micro-credential loan agreement, if any, are suspended.
. . . . .
(3.1) If the borrower owes interest to the Minister under a micro-credential student loan agreement or consolidated micro-credential loan agreement, if any, for a period during which he or she was not a student, and if the Minister asks the borrower to pay the accrued interest for that period, subsection (1.1) does not apply until the borrower pays the accrued interest.
3. (1) Paragraphs 2 and 3 of subsection 13.3 (1) of the Regulation are revoked and the following substituted:
2. The borrower 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 borrower 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 13.3 (2) of the Regulation is amended by striking out the portion before paragraph 1 and substituting the following:
(2) A determination under subsection (1) may render a borrower ineligible to receive any of the following types of benefits available under this Regulation or the 2020 Regulation with respect to the repayment of the borrower’s outstanding student loans and outstanding micro-credential student loans:
. . . . .
(3) Subsection 13.3 (2) of the Regulation is amended by adding the following paragraph:
1.1 Relief under section 22 of the 2020 Regulation from the obligation to pay interest on micro-credential student loans while deemed to be a qualifying student under section 23 or 24 of the 2020 Regulation.
(4) Clause 13.3 (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 borrower repays all amounts of principal and interest outstanding on student loans and micro-credential student loans previously made to the borrower under the Act and repays to the Minister any of the following amounts that the Minister may require the borrower to repay in the notice of determination:
(i) Any awards, grants or micro-credential grants made to the borrower by the Minister.
(ii) The amount of any interest paid by the Minister on behalf of the borrower as a result of a borrower’s obligations to pay principal and interest being suspended under section 11.2 of this Regulation and section 22 of the 2020 Regulation.
. . . . .
Commencement
4. This Regulation comes into force on the day it is filed.