Apprentice Loans Regulations

Marginal note:Payment of federal portion

• 11 (1) A borrower must, no later than the day that is 30 days after a repayment assistance period ends, pay to the Minister the federal portion of the monthly affordable payments calculated in accordance with subsection 10(2) in respect of that period.

• (2) [Repealed, SOR/2023-273, s. 23]

• Definition of federal portion

  (3) In this section, federal portion means

  • (a) if no instalments are due on account of outstanding principal under provincial loans, 100% of the affordable monthly payment; and

  • (b) otherwise, the ratio of outstanding principal in relation to student loans and guaranteed student loans for which instalments are due to the sum of this amount and the outstanding principal amount of provincial loans for which instalments are due.

• Marginal note:Attribution of payments

  (4) Payments made under this section are to be attributed in proportion to the outstanding principal of each apprentice loan, student loan and guaranteed student loan for which instalments are due.