A-13.3, r. 1 - Regulation respecting financial assistance for education expenses

Section 51.1 Disposition versions

2013-05-19

51.1. (Revoked).

O.C. 774-2012, ss. 5 and 12; O.C. 452-2013, s. 6.

2012-09-01

51.1. The maximum amount of a loan for a student receiving a contribution from his or her parents, a sponsor or a spouse is increased as follows, the result being not less than zero:

(1)  where the contribution is received from both parents living together, the lesser of $2,850 and 19% of the parents’ income, from which applicable exemptions and an amount of $45,000 are subtracted;

(2)  where the contribution is received from one parent without a spouse or from a sponsor, the lesser of $2,850 and 19% of the income of the parent or sponsor, from which applicable exemptions and an amount of $40,000 are subtracted;

(3)  where the contribution is received from a spouse, the lesser of $2,850 and 19% of the spouse’s income, from which applicable exemptions and an amount of $38,000 are subtracted.

The amount of the increase determined in subparagraphs 1 and 2 of the first paragraph is divided, where applicable, by the number of children of the parents or the sponsor, including the student, who are pursuing full-time studies in vocational training at the secondary level or full-time studies at the postsecondary level and are deemed to receive a contribution from their parents or sponsor.

The amount of the increase determined in subparagraph 3 of the first paragraph is divided, where applicable, by the number obtained by counting the student and each child of the student and his or her spouse who are pursuing full-time studies in vocational training at the secondary level or full-time postsecondary studies and are deemed to receive a contribution from their parents.

The amounts provided for in subparagraphs 1 to 3 of the first paragraph are as follows:

(1) for the 2012-2013 year of allocation:

(a) in subparagraph 1, $3,838 and $35,000;

(b) in subparagraph 2, $3,838 and $30,000;

(c) in subparagraph 3, $3,838 and $28,000;

(2) for the 2013-2014 year of allocation:

(a) in subparagraph 1, $3,791 and $35,600;

(b) in subparagraph 2, $3,791 and $30,600;

(c) in subparagraph 3, $3,791 and $28,600;

(3) for the 2014-2015 year of allocation:

(a) in subparagraph 1, $3,762 and $38,000;

(b) in subparagraph 2, $3,762 and $33,000;

(c) in subparagraph 3, $3,762 and $31,000;

(4) for the 2015-2016 year of allocation:

(a) in subparagraph 1, $3,382 and $41,000;

(b) in subparagraph 2, $3,382 and $36,000;

(c) in subparagraph 3, $3,382 and $34,000.

O.C. 774-2012, ss. 5 and 12.