24.1. A private educational institution that receives a cancellation notice in respect of a services contract from a student who has received financial assistance in the form of a loan shall inform the Minister.
The Minister may, in such a case, order the educational institution to remit the amounts referred to in section 74 of the Act respecting private education (chapter E-9.1) to the financial institution so that they may be applied to the repayment of the loan.