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O. Reg. 84/23: ONTARIO STUDENT LOANS MADE BEFORE AUGUST 1, 2001
filed May 1, 2023 under Ministry of Training, Colleges and Universities Act, R.S.O. 1990, c. M.19
Skip to contentontario regulation 84/23
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 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:
“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 definitions of “consolidated micro-credential loan agreement” and “student loan” in subsection 1 (1) of the Regulation are revoked.
(3) Subsection 1 (5) of the Regulation is revoked and the following substituted:
(5) A reference in this Regulation to a “loan” or “student loan” does not include a micro-credential student loan.
(6) Despite subsection (5) 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.
(7) A person ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student on the first day that the person is neither a student for the purposes of this Regulation nor an Ontario Learn and Stay Grant student.
2. Section 8 of the Regulation is revoked and the following substituted:
8. (1) A borrower to whom a student loan has been made before August 1, 2001, after ceasing to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student and on or before the last day of the sixth month after the month in which the borrower ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student, shall enter into a loan agreement to be known as a consolidated student loan agreement in a form determined by the Minister with the bank to which their obligations under the student loan are owed, which agreement shall determine the amount and duration of the repayments to be made to discharge the principal amount of the student loan and interest on the outstanding balance from time to time.
(2) Where a borrower has entered into a consolidated student loan agreement under subsection (1), and again becomes a student for the purposes of this Regulation or an Ontario Learn and Stay Grant student whose obligations under the consolidated student loan agreement are suspended by the bank, when they again cease to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student and on or before the last day of the sixth month after the month in which the borrower ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student, they shall enter into a new consolidated student loan agreement with the bank to which their obligations under the student loan are owed, in place of the former consolidated student loan agreement which agreement shall determine the amount and duration of the payments to be made to discharge the principal amount of the loan and interest on the outstanding balance from time to time.
3. Clause 10 (4) (b) of the Regulation is revoked and the following substituted:
(b) the first day of the seventh month immediately following the month in which the borrower ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student, where the bank is advised of this event.
4. (1) Subsection 11.2 (1.1) of the Regulation is amended by striking out “and consolidated micro-credential loan agreement” and substituting “or a repayment notice”.
(2) Subsection 11.2 (3.1) of the Regulation is amended by striking out “consolidated micro-credential loan agreement” and substituting “repayment notice”.
5. (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 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 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 made by the Government of Ontario under the Act, the Government of Canada or the government of any other province or territory.
(2) Clause 13.3 (5) (b) of the Regulation is amended by striking out “and micro-credential student loans” in the portion before subclause (i).
(3) Subclause 13.3 (5) (b) (i) of the Regulation is revoked and the following substituted:
(i) Any awards or grants made to the borrower by the Minister under the Act.
6. Clause 16 (5) (b) of the Regulation is revoked and the following substituted:
(b) in respect of the period in which the interest is accruing from the day the student ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student to the last day of the sixth month after the month in which the borrower ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student.
7. Subsection 16.1 (1) of the Regulation is revoked and the following substituted:
(1) Despite subsection 16 (5), an individual is not required to make payments toward the interest accruing on a student loan in respect of the period from the day the individual ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student to the last day of the 12th month after the month in which the borrower ceases to be both a student for the purposes of this Regulation 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 16.3 (1) of the Regulation is amended by striking out the portion before clause (a) and substituting the following:
(1) Despite subsection 16 (5), an individual is not required to make payments toward the interest accruing on a student loan in respect of the period from the day the individual ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student to the last day of the 12th month after the month in which the borrower ceases to be both a student for the purposes of this Regulation and an Ontario Learn and Stay Grant student where the Minister determines that,
. . . . .
9. Section 18 of the Regulation is amended by striking out “Her Majesty” wherever it occurs and substituting in each case “the Crown”.
Commencement
10. This Regulation comes into force on the day it is filed.