75. A borrower may apply to the Minister to be recognized as a borrower in a precarious financial situation for a maximum period of 6 months ending not later than 120 months after the end of the partial exemption period, if the borrower is in such a situation at the time of application.
Recognition of the borrower’s precarious financial situation suspends the performance of the repayment agreement.
During the period provided for in the first paragraph, the Minister pays to the financial institution, on behalf of the borrower, the interest on the balance of the guaranteed loans and any capitalized interest at the rate provided for in section 73.
Despite the foregoing, a borrower referred to in section 74.1 must, during any time he or she is recognized as a borrower in a precarious financial situation, pay to his or her financial institution the minimum monthly payment computed under the second paragraph of that section.
Section 72 applies to payment of the interest by the Minister.
O.C. 344-2004, s. 75; O.C. 1009-2011, s. 16.