3. A certificate shall be issued only to a student who has not or whose parents have not the necessary means to enable him to undertake or continue his studies and suitably to meet his needs.
Notwithstanding the first paragraph, a certificate may be issued without taking into account the means of the student or of his parents where it is issued for the purchase of supplies and where the interest is payable by the borrower during the course of his studies.
1966-67, c. 70, s. 3; 1985, c. 30, s. 67.