Canada Student Financial Assistance Act — S-22.7 (a)
net costs , for a province for a loan year, means the amount determined by the formula (A + B) - (C + D) where A is the estimated aggregate of all amounts paid by the Minister in that loan year (a) to lenders, service providers or financial institutions under this Act, the regulations or an agreement entered into under section 5, 6.2 or 6.3, to lenders under the Canada Student Loans Act or the regulations made under that Act, and to collection agencies, in respect of student loans or guaranteed student loans made pursuant to certificates of eligibility issued or caused to be issued in any loan year by the appropriate authority for that province, and (b) to persons pursuant to regulations made under paragraph 15(1)(p), excluding (c) any amounts paid pursuant to paragraph 5(e) or pursuant to regulations made under paragraph 15(1)(o) that provide for the repayment of student loans by borrowers on an income-contingent basis, and (d) any provincial share paid pursuant to an agreement or arrangement made under subparagraph 18(b)(ii), B is the estimated aggregate of (a) the amount of interest calculated in that loan year in respect of outstanding loans referred to in the description of A made under an agreement entered into under section 6.1, at the rate of interest fixed or determined in accordance with subsection 20(2), (b) the amount by which the outstanding principal in respect of all loans referred to in paragraph (a) has been reduced in that loan year in accordance with the regulations, (c) the amount of the outstanding principal and interest in respect of all loans referred to in paragraph (a) for which the borrower’s obligations have terminated in that loan year as a result of the death or disability of the borrower, and (d) the amount of the outstanding principal and interest in respect of all loans referred to in paragraph (a) for which the Minister has commenced collection action in that loan year, minus the amount of the outstanding principal and interest in respect of loans referred to in that paragraph for which the Minister has ended collection action in that loan year due to the occurrence of an event set out in the regulations that resulted in the removal of restrictions to financial assistance, C is the estimated aggregate of all amounts received by or on behalf of Her Majesty in right of Canada in that loan year, including any amount received pursuant to the Financial Administration Act , in respect of loans referred to in the description of A, other than loans made under an agreement entered into under section 6.1, excluding (a) any amounts received pursuant to paragraph 5(e) or pursuant to regulations made under paragraph 15(1)(o) that provide for the repayment of student loans by borrowers on an income-contingent basis, and (b) any amounts received by or on behalf of Her Majesty in right of Canada in respect of a provincial share paid pursuant to an agreement or arrangement made under subparagraph 18(b)(ii), and D is the estimated aggregate of (a) the amount of interest received by or on behalf of Her Majesty in right of Canada in that loan year in respect of loans referred to in the description of A that were made under an agreement entered into under section 6.1, and (b) any amounts received in that loan year pursuant to collection action taken by the Minister in respect of loans referred to in paragraph (a). ( coût net )