Living Allowances and Funding Limits
Allowable Monthly Costs
Read the information sheet  for a detailed breakdown of Allowable Monthly Costs for 2009-2010. Important facts to consider:
- Single students out of high school less than four (4) years whose parents reside within commuting distance of the school are expected to live in their parent’s home.
- Commuting distance is the distance a student can 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. This 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 students may borrow in both Alberta and Canada Student Loans each year. The maximum loan limit for 2009-2010 is $6,650 per semester (a semester is a period of one to four months). Any student who qualifies for grants or bursaries may receive those as well as the loan maximum.
For Canada Student Loans only, students 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.
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NOTE: If you are a student in a professional program, such as law, MBA, medicine or dentistry, you may be eligible to receive an extra semester of funding to meet your needs each year. If you access this extra semester, you will have an increased debt level. |
Maximum Lifetime Student Loan Limits (2009-2010)
| Undergraduate & private vocational school students |
$50,000 |
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| Dental hygiene students |
$55,000 |
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| Graduate students |
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| Masters |
$60,000 |
| MBA |
$60,000 |
| PhD |
$70,000 |
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| Professional students |
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| Chiropractic |
$60,000 |
| Dentistry |
$95,000 |
| Law |
$70,000 |
| Medicine |
$95,000 |
| Optometry |
$60,000 |
| Pharmacy |
$60,000 |
| Veterinary medicine |
$60,000 |
These loan limits are not cumulative. For example, if you enter a Masters program after completing an Undergraduate degree, your maximum lifetime student loan limit for both degrees is $60,000 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.
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
Post-secondary students with dependants can apply for coverage of medical, optical, dental and ambulance services for their 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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