Canada Student Loans Act — S-23 16
current loan year. Escalator (5) For the purposes of subparagraph (4)(a)(ii), (a) subject to paragraph (b), the escalator for a loan year is a fraction of which (i) the numerator is the net per capita costs for participating provinces for that loan year, and (ii) the denominator is the net per capita costs for participating provinces for the previous loan year; and (b) the escalator for the first loan year in which a provincial student loan plan will be in operation in the province and no appropriate authority for the province will be designated for the purposes of this Act is a fraction of which (i) the numerator is the net per capita costs for participating provinces for that first loan year, and (ii) the denominator is the net per capita costs for the previous loan year for provinces that are participating provinces in that first loan year. Definitions (6) In this section, net costs , for a province for a loan year, means, subject to subsection (7), the amount by which (a) the estimated aggregate of all amounts paid by the Minister in that loan year to lenders under sections 6, 7 and 8, paragraph 10(b), as that paragraph read from time to time before April 1, 2023, and sections 12 and 13, and to collection agencies, in respect of guaranteed student loans made on the basis of certificates of eligibility issued or caused to be issued in any loan year by the appropriate authority for that province exceeds (b) the estimated aggregate of all amounts received by or on behalf of Her Majesty in that loan year, including any amount received pursuant to the Financial Administration Act , in respect of the loans referred to in paragraph (a); ( coûts nets ) net per capita costs , for participating provinces for a loan year, means the fraction of which (a) the numerator is the amount by which the total program net costs for that loan year exceeds the aggregate of the net costs for that loan year for all provinces that are not participating provinces in that loan year, and (b) the denominator is the estimated number of persons in the participating provinces who, on the first day of the loan year, have attained eighteen years of age and have not attained twenty-five years of age; ( coûts nets par tête ) total program net costs , for a loan year, means the amount by which (a) the aggregate of all amounts paid by the Minister in that loan year to lenders under sections 6, 7 and 8, paragraph 10(b), as that paragraph read from time to time before April 1, 2023, and sections 12 and 13, and to collection agencies, in respect of guaranteed student loans made on the basis of certificates of eligibility issued or caused to be issued in any loan year by the appropriate authorities for participating provinces exceeds (b) the aggregate of all amounts received by or on behalf of Her Majesty in that loan year, including any amount received pursuant to the Financial Administration Act , in respect of the loans referred to in paragraph (a). ( coûts nets totaux du programme ) Exception (7) The amounts described in paragraphs (a) and (b) of the definition net costs in subsection (6) that were paid or received in respect of a loan made to a part-time student or that were paid under paragraph 10(b), as it read from time to time before April 1, 2023, shall be included in the calculation described in that definition only if the government of the province satisfies the Minister that the provincial student loan plan includes provisions having substantially the same effect as the provisions of this Act relating to loans to part-time students or to the granting of special interest-free periods to borrowers respectively. R.S., 1985, c. S-23, s. 16; 1993, c. 12, s. 8 2022, c. 19, s. 151