Summary of the Class Action Judgment
- All Members who contracted their last student loan with their financial institution pursuant to the Act prior to June 30th 1997 or prior to April 30th 1998 benefit, according to their Student Loan Contract, from an exemption period for the payment of interest.
- The exemption period corresponds to the period during which they were pursuing their studies and for a period of seven months after they have completed or abandoned their studies. During this exemption period, the Minister of Education was obliged to pay the interest on the student loan directly to the Member's financial institutions.
- The Act was amended in 1997 and in 1998, reducing the exemption period by one month and then by six months, respectively.
- In applying these amendments to the Act, the Minister of Education charged Members interest that was subject to the exemption period.
- In his class action, Plaintiff, Harry Dikranian, sought judgment from the Court to declare that the amendments were not applicable to the Members. On December 2nd, 2005, the Supreme Court of Canada rendered judgment for the benefit of all Members declaring that the Minister of Education could not charge Members interest for the exemption period and that the amendments to the Act were not applicable to Members who benefit from their acquired contractual rights.
- On December 7th, 2007, the Honourable Mr. Justice Pierre Journet of the Quebec Superior Court condemned the Minister of Education to refund the interest that was charged to Members illegally for the exemption period.
- The claims process will take place exclusively online via the Minister of Education's Website at: www.afe.gouv.qc.ca
- The claims process will begin on June 2nd 2008.
- Members will be advised by way of a personalized notice sent by the Minister of Education to their last known address.
- A notice in the newspapers will be published on June 7th 2008.
- Members will have access to the Web site and may file a claim starting on June 2nd 2008 until June 1st 2009.
- The claim will be calculated automatically by computer software or by an agent of the Minister of Education.
- No document is required to file a claim
- No signature or declaration is required