Canada Student Financial Assistance Act
Marginal note:Interest-free period
7 (1) Subject to the regulations, no interest is payable by a borrower on a student loan prescribed by regulations made under paragraph 15(1)(j) in respect of any period of studies during which the borrower is a full-time or part-time student, or in respect of any subsequent period ending on
(a) in the case of a student loan that is made to a full-time student, the last day of the month in which the borrower ceases to be a full-time student; and
(b) in the case of a student loan that is made to a part-time student, the last day of the month in which the borrower ceases to be a student, whether a part-time or full-time student.
Marginal note:No fees
(2) No fee of any kind may be charged to a borrower on a student loan in respect of any period of studies, or a subsequent period, referred to in subsection (1).
- 1994, c. 28, s. 7
- 2008, c. 28, s. 110
- 2011, c. 15, s. 18
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