April 27th, 2015 by Questions
Your website talks about Canada Student loans. Does this include OSAP loans? CIBC is telling me it doesn’t because it is Provincial.
April 27, 2015 at 6:46 am, Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said:
Student loans include provincial student loans. Section 178(1) of the Bankruptcy and Insolvency Act deals with debts that are not released in bankruptcy. Section 178)1)(g) states “any debt or obligation in respect of a loan made under the Canada Student Loans Act, the Canada Student Financial Assistance Act or any enactment of a province that provides for loans or guarantees of loans to students where the date of the bankruptcy occurred
(i) Before the date on which the bankrupt ceased to be a full-or part time student, as the case may be, under the applicable Act or enactment or
(ii) Within seven years after the date on which the bankrupt ceased to be a full-or part time student…”
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