The Supreme Court of Canada says a person must wait seven years after completely finishing their post-secondary studies before they can be released from student loan debt under the federal bankruptcy law.
The top court’s decision came Thursday in the case of Izabela Piekut, who received government student loans in the course of three university programs from 1987 to 2003.
Piekut later returned to school and earned a master’s degree in 2009 without the help of additional student loans.
In 2013, she made a consumer proposal under the Bankruptcy and Insolvency Act, an alternative to bankruptcy that allows for payment of a portion of the money owed, or payment over an extended period….