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O. Reg. 85/23: ONTARIO STUDENT LOANS MADE AUGUST 1, 2001 TO JULY 31, 2017

filed May 1, 2023 under Ministry of Training, Colleges and Universities Act, R.S.O. 1990, c. M.19

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ontario regulation 85/23

made under the

Ministry of Training, Colleges and Universities Act

Made: April 27, 2023
Filed: May 1, 2023
Published on e-Laws: May 2, 2023
Published in The Ontario Gazette: May 20, 2023

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:

“2023 Regulation” means Ontario Regulation 82/23 (Ontario Learn and Stay Grant) made under the Act; (“Règlement de 2023”)

“grant” does not include a micro-credential grant; (“subvention”)

“Ontario Learn and Stay Grant student” has the same meaning as in the 2023 Regulation; (“étudiant bénéficiant de la subvention ontarienne Apprendre et rester”)

“repayment notice” has the same meaning as in the 2020 Regulation; (“avis de remboursement”)

(2) The definition of “consolidated micro-credential loan agreement” in subsection 2 (1) of the Regulation is revoked.

(3) The definition of “service provider” in subsection 2 (1) of the Regulation is amended by adding “or grants” after “student loans” in the portion before clause (a).

(4) Subsection 2 (3) of the Regulation is revoked and the following substituted:

(3) A reference in this Regulation to a “loan” or “student loan” does not include a micro-credential student loan.

(4) Despite subsection (3) and the definition of “grant”, a reference in this Regulation to a grant, loan or student loan that is received, granted, made or issued under the Act includes any grant or loan received, granted, made or issued under the Act.

(5) A person ceases to be both a qualifying student and an Ontario Learn and Stay Grant student on the first day that the person is neither a qualifying student nor an Ontario Learn and Stay Grant student.

2. Subsections 3 (3) and (4) of the Regulation are revoked and the following substituted:

(3) While the individual remains a qualifying student or an Ontario Learn and Stay Grant student, the individual is not required to repay the student loan.

(4) After the individual ceases to be both a qualifying student and an Ontario Learn and Stay Grant student, they are required to enter into an agreement under section 28 to consolidate all of their student loans made under this Regulation.

3. (1) Subsection 26 (1) of the Regulation is amended by striking out “consolidated micro-credential loan agreement” and substituting “repayment notice”.

(2) Subsection 26 (2) of the Regulation is amended by striking out “consolidated micro-credential loan agreement” and substituting “repayment notice”.

4. (1) Subsection 28 (1) of the Regulation is amended by striking out the portion before clause (a) and substituting the following:

Requirement for a consolidated loan agreement

(1) Every individual shall enter into a consolidated loan agreement with the Minister after the individual ceases to be both a qualifying student and an Ontario Learn and Stay Grant student if the individual has entered into,

. . . . .

(2) Subsection 28 (2) of the Regulation is revoked and the following substituted:

(2) If the individual does not enter into a consolidated loan agreement within six months after ceasing to be both a qualifying student and an Ontario Learn and Stay Grant student, section 29 applies until the individual does enter into such an agreement.

(3) Subsections 28 (4) and (5) of the Regulation are revoked and the following substituted:

(4) If the individual enters into a consolidated loan agreement and then becomes a qualifying student again or becomes an Ontario Learn and Stay Grant student, the individual is required to enter into a new consolidated loan agreement after ceasing to be both a qualifying student and an Ontario Learn and Stay Grant student, and the new agreement supersedes the old agreement.

(5) If the individual does not enter into the new consolidated loan agreement within six months after ceasing to be both a qualifying student and an Ontario Learn and Stay Grant student, section 29 applies until the individual does enter into such an agreement.

5. Subsections 29 (1) and (2) of the Regulation are revoked and the following substituted:

Arrangement if there is no consolidated loan agreement

(1) If an individual does not enter into a consolidated loan agreement within six months after ceasing to be both a qualifying student and an Ontario Learn and Stay Grant student, the Minister may establish the amount and duration of the repayments to be made to discharge the principal amount of all outstanding student loans made under this Regulation and the interest on the outstanding balance from time to time.

(2) If an individual does not enter into a consolidated loan agreement within six months after ceasing to be both a qualifying student and an Ontario Learn and Stay Grant student or does not provide the Minister with a void cheque, a bank account number or with such other information or documents as may be necessary in order to collect payments in accordance with the terms of a consolidated loan agreement, the Minister may require a financial institution to make payments on the individual’s student loans from an account at the institution that the individual has identified to the Minister.

6. 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 toward the interest accruing under a student loan agreement, a master student loan agreement or a consolidated loan agreement until the first day of the seventh month immediately following the month in which the individual ceased to be both a qualifying student and an Ontario Learn and Stay Grant student.

7. Subsection 30.1 (1) of the Regulation is revoked and the following substituted:

Exception

(1) Despite subsection 30 (1), an individual is not required to make payments toward the interest accruing under a student loan agreement, a master student loan agreement or a consolidated loan agreement until the first day of the 13th month immediately following the month in which the individual ceased to be both a qualifying student and an Ontario Learn and Stay Grant student where the Minister determines that the individual is employed in or does voluntary work that is eligible employment with an eligible not-for-profit entity.

8. Subsection 30.3 (1) of the Regulation is amended by striking out the portion before clause (a) and substituting the following:

Exception

(1) Despite subsection 30 (1), an individual is not required to make payments toward the interest accruing under a student loan agreement, a master student loan agreement or a consolidated loan agreement until the first day of the 13th month immediately following the month in which the individual ceased to be both a qualifying student and an Ontario Learn and Stay Grant student, where the Minister determines that,

. . . . .

9. Subsection 42 (3) of the Regulation is amended by adding the following clause:

(a.1) deny the borrower the status of an Ontario Learn and Stay Grant student under section 26 or 27 or subsection 28 (2) during a period of study under subsection 7 (2) of the 2023 Regulation during which they do not receive an Ontario Learn and Stay Grant;

10. (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 to a program of awards, grants or bursaries made by the Government of Ontario under the Act, 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 made by the Government of Ontario under the Act, the Government of Canada or the government of any other province or territory.

(2) Clause 42.1 (5) (b) of the Regulation is amended by striking out “and micro-credential student loans” in the portion before subclause (i).

(3) Subclause 42.1 (5) (b) (i) of the Regulation is revoked and the following substituted:

(i) Any awards or grants made to the individual by the Minister under the Act.

Commencement

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

 

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