Living Allowances and Funding Limits
Allowable Monthly Costs
This information sheet  gives a detailed breakdown of Allowable Monthly Costs for 2011-2012. Important facts to consider:
- If you are a single student out of high school less than four (4) years and your parents live within commuting distance of your school, then you are expected to live in your parent’s home.
- Commuting distance is the distance you travel daily either using the public transit system or a personal vehicle.
- Public transit system means regular daily bus service such as Edmonton Transit System or Calgary Transit System. It does not include service offered by Greyhound Bus Lines, Red Arrow or other commercial bus lines.
Maximum Yearly Loan Limits
There are legislated maximum loan limits on the amounts you may borrow in both Alberta and Canada student loans each year. The maximum loan limit for 2011-2012 is $6,650 per semester.* If you qualify for grants, you may receive those as well as the loan maximum.
For Canada Student Loans only, you are eligible for a maximum of $210 per week of study. For a typical eight-month (34-week) program of study, your maximum Canada Student Loan would be $210 x 34 = $7,140.
*For determining loan limits:
- a one-semester period is 1-4 months
- a two-semester period is 5-9 months
- a three-semester period is 10-12 months
Professional students in certain programs may be eligible for additional loan funding.
Maximum Lifetime Student Loan Limits (2011-2012)
| Undergraduate & private vocational school students |
$60,000 |
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| Dental hygiene students |
$75,000 |
| Pharmacy students |
$75,000 |
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| Graduate students |
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| Masters |
$75,000 |
| MBA |
$95,000 |
| PhD |
$95,000 |
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| Professional students |
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| Chiropractic |
$95,000 |
| Law |
$95,000 |
| Optometry |
$95,000 |
| Veterinary Medicine |
$95,000 |
| Dentistry |
$150,000 |
| Medicine |
$150,000 |
The loan limits shown at the graduate and professional levels include loans you may have received as an undergraduate. For example, if you enter a Masters program after completing an undergraduate degree, your maximum lifetime student loan limit for both degrees is $75,000 total. The Canada Student Loan Program may provide funding of $210 per week in subsequent periods of study after the indicated limits have been reached.
If you have reached your lifetime loan limit and have repaid some or all of your previous student loans, you may be eligible to borrow the repaid amount again. To do this, provide documentation that shows the amount you have repaid. The repaid amount does not include Loan Relief payments you may have received.
Child Care Subsidy
If you have child care costs for preschool children, you may qualify for the Child Care Subsidy Program. Use the Estimator to help calculate your subsidy.
Enhanced Medical Coverage for Dependants
If you are a post-secondary student with dependants, you can apply for coverage of medical, optical, dental and ambulance services for your children through the Alberta Child Health Benefits Program. For more information, call 780-427-6848 (for toll-free access from outside Edmonton, first dial 310-0000 and then request the number).
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