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Word of the Week - Student Loans

STUDENT LOANS



Ontario

Although Parliament has determined that, ultimately, student loans become releasable debt under the BIA [Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3], in such a case it is still appropriate to consider, at the discharge hearing, the special nature of student loans. They are loans granted without consideration as to the present ability to re-pay. They are granted with the funds of fellow Canadians, with an eye to bettering all of society by having a more educated, productive and engaged citizenry and workforce. Failure to repay these loans jeopardizes the loan system, and therefore the future ability of other Canadians to benefit therefrom.



Senten, Re

2011 CarswellOnt 13104 (Ont. S.C.J.) at para. 5

Reg. Scott W. Nettie

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