Canada Student Loans Act

Marginal note:Interest-free period for full-time students

• 4 (1) Subject to the regulations, no interest is payable by a borrower on a guaranteed student loan made before August 1, 1993 to a full-time student in respect of

  • (a) any period of studies during which the borrower is a full-time student; or

  • (b) any subsequent period ending on the last day of the sixth month after the month in which the borrower ceases to be a full-time student.

• Marginal note:Idem

  (2) Subject to the regulations, no interest is payable by a borrower on a guaranteed student loan made on or after August 1, 1993 to a full-time student in respect of

  • (a) any period of studies during which the borrower is a full-time student; or

  • (b) any subsequent period ending on the last day of the sixth month after the month in which the borrower ceases to be a full-time student.

• Marginal note:Idem

  (3) Notwithstanding subsection (1) but subject to the regulations, where a borrower has ceased to be a full-time student as described in that subsection and thereafter again becomes a full-time student, no interest is payable by the borrower on a guaranteed student loan made and consolidated before August 1, 1993 in respect of the period commencing on the prescribed day and ending on the last day of the sixth month after the month in which the borrower again ceases to be a full-time student.

• Marginal note:Idem

  (4) Despite subsection (1) but subject to the regulations, if a borrower has ceased to be a full-time student as described in that subsection and subsequently becomes a full-time student again, no interest is payable by the borrower on a guaranteed student loan made before August 1, 1993 and consolidated after that day in respect of the period commencing on the prescribed day and ending on the last day of the sixth month after the month in which the borrower again ceases to be a full-time student.