Ceasing to be a qualifying student
 27. (1) An individual ceases to be a qualifying student in any of the following circumstances: 1.  The individual ceases to be enrolled in the approved program of study in respect of which his or her most recent notice of assessment was issued. 2.  The individual reduces his or her course load below the minimum required course load for the period of study in the approved program of study. 3.  The individual withdraws from the applicable educational institution. 4.  The program of study in which the individual is enrolled at the approved institution ceases to be an approved program of study. 5.  The institution at which the individual is enrolled ceases to be an approved institution or to be described by clause 25 (3) (b), (c) or (d). 6.  The period of study for which the individual received a grant or student loan ends and the number of weeks in respect of all periods of study for which the individual has received a grant or student loan under the Act, other than micro-credential grants, micro-credential student loans and Ontario Tuition Grants under Ontario Regulation 118/07 (Ontario Access Grants and Ontario Tuition Grants) made under the Act, is equal to or greater than the maximum number of weeks calculated in accordance with subsection 14 (1). 7.  Subject to subsections (2) and (3), the individual became a bankrupt within the meaning of the Bankruptcy and Insolvency Act (Canada) or entered into another recognized arrangement for debt settlement and, if the event occurred during a period of study, the period of study ends. O. Reg. 70/17, s. 27 (1); O. Reg. 83/23, s. 9 (1). (2) Despite paragraph 7 of subsection (1), an individual shall continue to be a qualifying student after the end of the period of study during which he or she became a bankrupt within the meaning of the Bankruptcy and Insolvency Act
(Canada) or entered into another recognized arrangement for debt settlement until such time as is determined under subsection (3) if, (a)  the individual is issued a notice of assessment under section 18; or (b)  the individual meets the requirements of section 25 or 26. O. Reg. 70/17, s. 27 (2). (3) An individual may continue to be a qualifying student under subsection (2) until the earliest of, (a)  the day that is, (i)  three years after the day the event described in paragraph 7 of subsection (1) occurred, or (ii)  if the three-year period described in subclause (i) ends during a period of study, the last day of the period of study; (b)  the day the individual completes the approved program of study he or she was enrolled in at the time the event described in paragraph 7 of subsection (1) occurred; or (c)  the day the individual ceases to be enrolled in the approved program of study he or she was enrolled in at the time the event described in paragraph 7 of subsection (1) occurred. O. Reg. 70/17, s. 27 (3). (4) Paragraph 7 of subsection (1) and subsections (2) and (3) only apply to events described in paragraph 7 of subsection (1) that occurred on or after May 11, 2004. O. Reg. 70/17, s. 27 (4). (5) After an individual ceases to be both a qualifying student and an Ontario Learn and Stay Grant student, the individual is required to enter into an agreement under section 28 to consolidate all of their student loans made under the Act, other than micro-credential student loans. O. Reg. 83/23, s. 9 (2). Consolidated Loan Agreement and Repayment Terms