Bankruptcies
With the amendment of the Bankruptcy and
Insolvency Act in June of 1998, Canada-Saskatchewan Integrated
Student Loans are non dischargeable for 10 years which means
that they must be repaid. Claiming bankruptcy will affect your
eligibility for further funding.
For more information, visit the Government
of Canada.
As of May 11, 2004 the Canada-Saskatchewan
Integrated Student Loan Program implemented changes to enable
borrowers who participate in a bankruptcy-related event, such
as filing for bankruptcy, a consumer proposal or an arrangement
for the orderly payment of debts, to access Interest Relief
and Debt Reduction in Repayment programs. These regulatory
amendments are not retroactive.
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