Loans and Grants
Student Aid Alberta
Funding post-secondary education should never be a barrier for Albertans who have the desire and ability to pursue their dreams. Student Aid Alberta provides loans and grants to eligible students in partnership with the Canada student loan program. Students only have to fill out one application (apply now online) to gain access to a combination of both Alberta and Canada student loans and grants. Students who are residents of provinces other than Alberta need to apply through their province of residence.
Student Aid Alberta can help students cover the basic costs of education: tuition, fees, books, supplies and basic living costs. Some benefits include:
- Quick application results - if you apply online you may see estimated results immediately
- Interest-free status and no payment required on student loans while you are in full-time studies
- You don't have to begin repaying your student loans until six months after you leave your studies. Alberta student loans also remain interest-free during this time.
- Attractive interest rates when you enter student loan repayment
- A Completion Incentive Grant by the Alberta government for qualifying students
- Repayment assistance for students needing help repaying loans
- You may receive a tax credit on your monthly interest paid
- Repayment can help you build a solid credit rating for your future
To learn more about available funding including student grants, see Types of Funding found on studentaid.alberta.ca.
Other Funding Options
A student line of credit from your bank may be an alternative if you are unable to receive student aid or can’t get enough funding for your studies, e.g. if you’re in graduate studies or studying abroad. If you don’t have a job or a credit history, you may need someone, a parent or family member, to co-sign the loan.
Student lines of credit are different from student aid:
- You are not eligible to be considered for grant funding.
- You are required to make monthly interest payments on student line of credit loans while you’re in school.
- Interest starts to accrue from the day the money is accessed (taken out of the bank).
What’s Your Story?
Two students, two different loan and grant situations
||Carlos, is going to technical school to become an architectural technologist. He has $2,000 in the bank from a part-time job during high school and another $1,500 from his summer job. His parents have also saved $2,000 for his education. His tuition and books are covered but Carlos has no other money for the first year, eight months, of school. Since he’s living at home, his living expenses are low. He has applied for several scholarships but if he doesn’t get one, he’ll apply for student aid.|
||Without government student aid, Naomi, 23, would probably not be going to college. Her parents can’t afford to help pay for her education, so Naomi is relying on summer jobs, student aid, and a scholarship to get her through a four-year program. She’s going to graduate almost $10,000 in debt. She has decided to take longer to pay back her loan, because she plans to buy a car and get her own apartment after graduation. It’s not an ideal situation, but Naomi believes it's worth investing in both her education and her future.|
For more stories, click here.