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A-13.3, r. 1 - Regulation respecting financial assistance for education expenses
Section 73
Disposition versions
73. The rate applicable to the payment of interest by the borrower is equal to preferential rate, plus 50 basis points. That rate of interest fluctuates in relation to the variations in preferential rate.
The expression “preferential rate” means the rate fixed by the Bank of Canada for a given day as the standard to be used by financial institutions and published in its Daily Summary.
73. The rate applicable to the payment of interest by the borrower is equal to the prime business rate, plus 50 basis points. That rate of interest fluctuates in relation to the variations in the prime business rate.
The expression “prime business rate” means the rate fixed by the Bank of Canada for a given day as the standard to be used by financial institutions and published in its Weekly Financial Statistics.
