150/2012

O.C. 434/2012

June 25, 2012

Finance Statutes Amendment Act, 2011

Student Loan Administrative Integration Regulation

Definitions

In this regulation:

Act means the Finance Statutes

Amendment Act, 2011 , S.B.C. 2011, c. 29;

affordable payment , in respect of RAP 1, means the payment calculated

in accordance with

section 19 (2) of the federal regulation in respect of the borrower's

Canada student loan;

federal Act means the Canada Student Financial Assistance

Act ;

federal regulation means the Canada Student Financial Assistance

Regulations;

permanent disability has the same meaning as in the federal

regulation;

RAP 1 means the program described in

section 19 of the federal

regulation under which repayment assistance is provided to a borrower in respect of the

borrower's Canada student loan;

RAP 2 means the program described in

section 20 of the federal

regulation under which repayment assistance is provided to a borrower who does not have a

permanent disability in respect of the borrower's Canada student loan;

RAP PD means the program described in

section 20 of the federal

regulation under which repayment assistance is provided to a borrower who has a permanent

disability in respect of the borrower's Canada student loan.

Criteria for purposes of

section 142 (3) of Act

For the purposes of

section 142 (3) (

e) of the Act, the following additional

criteria are prescribed:

if the borrower is receiving assistance under RAP 1, the borrower's affordable

payment is $0 and the borrower has been receiving assistance under RAP 1 for less than 54

months;

the borrower is not receiving assistance under RAP 2 or RAP PD;

if the borrower has submitted an instrument purporting to be the borrower's final

payment on the borrower's British Columbia student loan, the instrument has been

dishonoured by the financial institution on which it is drawn;

the borrower's Canada student loan is not interest-free under

section 7 (1) of the

federal Act;

the borrower's payments in respect of the borrower's Canada student loan are not

deferred under

section 8 of the federal Act.

[Provisions relevant to the enactment of this regulation: Finance

Statutes Amendment Act, 2011 , S.B.C. 2011, c. 29,

section 142]