C-301An Act to amend the Canada Student Financial Assistance Act, the Canada Student Loans Act and the Apprentice Loans Act (interest on student loans)

What it does

• Eliminates interest on student loans during periods of study for both full-time and part-time students, and bars any fee on a student loan for that time.
• Delays repayment of student loans until the last day of the seventh month after a borrower stops being a student, or stops being a full-time student for full-time loans.
• Eliminates interest on guaranteed student loans made on or after August 1, 1993, and removes older sections that set the previous interest rules.
• Eliminates interest on apprentice loans and says repayment starts after the prescribed deferral period.
• Keeps the current rules for principal and interest that were already payable before the bill comes into force, until those amounts are repaid.