Quick Answer
- Alberta student loans are available to full-time and part-time students who need help covering learning and living costs.
- Eligible full-time students get up to $8,500 per semester in combined Alberta student loans and Canada student loans.
- The maximum student loan amount that part-time students can receive is $10,000.
The government of Alberta provides Alberta student aid to help post-secondary students afford the rising cost of living, interest rates and tuition costs.
Students get up to $8,500 per semester in combined Alberta and Canada student loans to pay their tuition fees, books and living expenses.
Read on for more information about student loan eligibility, how much you can get, and the Alberta student loan interest rate.
Full-Time Student Aid in Alberta
Full-time student aid in Alberta consists of full-time loans and grants from the government of Alberta and the Canadian government.
Alberta Student Loans apply to eligible full-time and part-time students.
Full-time loans are to be repaid in a specific period, while full-time grants do not have to be repaid, except if your eligibility changes.
To be considered a full-time student, you must meet the following:
- Regularly attend a college or university in a program at a post-secondary school level
- Enrolled in at least 60% of the usual course load for the program in which you are enrolled
- Have a disability and are enrolled in at least 40% of a full-time course load
Full-Time Loans
Full-time loans are for students enrolled in certificate, diploma, undergraduate and graduate programs at eligible post-secondary schools.
Qualified students can receive full-time loans from Alberta and Canada. Loan eligibility depends on financial need, resources and other factors.
Payments for Alberta student loans begin 12 months after you leave school. Once repayment starts, interest will begin to accrue.
For Canada student loans, payments will start six months after you leave school. When repayment begins, there is no interest unless the interest is owing prior to April 1, 2023.
Alberta Student Aid’s loan year runs from August 1 to July 31.
Full-Time Grants
Full-time grants, which also help cover educational costs, are for students with special circumstances, such as coming from a lower-income family or having a disability.
When you apply for a grant, you will automatically be considered for various grants based on the information you provided.
How Much Can Full-Time Students Receive?
Full-time students can receive loans of up to $8,500 per semester in combined loans from Alberta and Canada.
With full-time grants, the amounts eligible students receive depend on the type of grant.
| Grant | Value | Who It’s For |
| Alberta Grant for Students with Disabilities | Up to $3,000/year | Students with disabilities who need financial support for services and equipment |
| Alberta Student Grant for Full-time Students | Up to $425/month | Students whose yearly income is below the numbers set by the Alberta government |
| Canada Student Grant for Full-time Students | Up to $525/month | Students whose yearly income is below the threshold set by the Canadian government |
| Canada Student Grant for Full‐Time Students with Dependants | $280/month | Students with dependants under the age of 12, or 18 and with a permanent disability |
| Canada Student Grant for Services and Equipment – Students with Disabilities | Up to $20,000/year | Students with disabilities who need financial support for services and equipment |
| Canada Student Grant for Students with Disabilities | $2,800/year | Students with disabilities |
Use the Student Aid Estimator to determine the amount of federal student aid you can get from the Canada Student Financial Assistance Program (CSFAP).
If you do not receive grant funding, you may still be eligible for the maximum annual and lifetime loan amount provided for every year you are in school.
If you drop classes or your situation changes due to reduced financial eligibility, the government will convert the money into a loan.
Part-Time Student Aid in Alberta
Part-time students are considered for Alberta and Canada part-time loans and grants. A part-time student must be:
- Registered in post-secondary studies at designated institutions
- Studying at less than 60% of a full-course load (or 40% if the student has a documented disability)
- Studying at less than 20% of a full-course load is not eligible for federal part-time funding, but may be eligible for the Alberta Part-Time Grant
- Students with a documented disability enrolled in at least 20% and less than 40% of a full-course load are considered part-time, while those enrolled in at least 40% and less than 60% of a full-course load may apply for either part-time or full-time assistance.
Part-Time Loans
The part-time loan amount you receive as an eligible student depends on your financial and academic situation.
The maximum amount you will receive is $10,000. You can get an additional part-time Canada loan of up to the $10,000 limit again if you make a payment.
To apply for part-time student aid, follow this procedure:
- Complete the Application for Financial Assistance for Part-Time Post-Secondary Studies.
- Submit it to Upload eDocs through your Alberta Student Aid account.
A portion of your part-time application needs to be completed by your educational institution.
Part-Time Grants: How Much Can Part-Time Students Receive?
The following is a list of the part-time grants eligible students can get:
| Grant | Value | Who it’s for |
| Alberta Part-time Grant | Up to $600 per semester | Students who are not eligible for the Canada Student Grant for Part-time Studies. |
| Canada Student Grant for Part-time Studies | Up to $2,520 per year | Students whose yearly income is below the threshold set by the Canada Student Grant for Part-time Students with Dependants |
| Canada Student Grant for Part-time Students with Dependants | Up to $2,688 per year | Students with dependants under the age of 12, or 18 and with a permanent disability |
| Canada Student Grant for Students with Disabilities | $2,800 per year | Students with disabilities |
| Canada Student Grant for Services and Equipment – Students with Disabilities | Up to $20,000 per year | Students with disabilities who need financial support for services and equipment |
Alberta Government Scholarships
The Alberta government offers the following scholarships and awards to post-secondary students:
| Scholarship Type | Description | Value |
| Academic | Based on academic excellence and achievement | Up to $20,000.00 |
| Athletic | Based on athletic achievement or participation | Up to $2,000.00 |
| Citizenship / Leadership | Based on citizenship or leadership qualities and accomplishments | Up to $30,000.00 |
| Indigenous | For applicants who are Status Indian/First Nations, Non-Status Indian/First Nations, or Inuit | Up to $10,000.00 |
| Language | Based on excellence in the study of a language, or teaching in a language, other than English | Up to $5,000.00 |
| Technology | Supports education and scientific research in various technological fields of study | Up to $31,500.00 |
How to Apply for Alberta Student Loans
To be eligible for financial assistance in Alberta through Alberta Student Aid, you must be:
- Be a Canadian citizen, a permanent resident of Canada, or a protected person.
- Provide the required documentation, such as a valid Canadian Social Insurance Number (SIN), to qualify for financial assistance from Alberta Student Aid.
Submit only one application to be considered for a student loan or grant. To be eligible for student aid, you must meet the following:
- Academic and residency requirements
- Have a financial need
- Be enrolled in an eligible program
Alberta Student Loan Limits
Alberta sets limits on how much money you can get, with the loan limits depending on your program of study. Student grants do not contribute to your loan limit.
The two kinds of loan limits are:
- Annual loan limit – This is the maximum amount of Alberta and Canada student loans you are eligible for per year. The limit depends on your study program.
- Lifetime loan limit – This is the maximum amount of Alberta and Canada loans you are allowed to have. It includes all the loans you get for your current and past programs. The limit also depends on your current program of study.
Annual Loan Limit
| Program | 1 Semester (1 to 4 months) | 2 Semesters (5 to 9 months) | 3 Semesters (10 to 12 months) |
| Bachelor’s Degree Certificate Diploma Journeyman Certificate | $8,500 | $17,000 | $25,500 |
| Dental Hygiene Pharmacy Master of Business Administration Law Other Graduate and Doctoral Programs | $12,750 | $25,500 | $34,000 |
| Chiropractic Medicine Dentistry Medicine Optometry Veterinary Medicine | $12,750 | $25,500 | $42,500 |
Lifetime Loan Limit
For open studies and undergraduate programs of one year or less, there is a new lifetime loan limit of $51,000. The amount is equal to two years of the maximum standard annual loan limit established at $25,500.
| Program | Lifetime loan limit |
| Open Studies One-Year Undergraduate Programs, including Certificate, Diploma and Apprenticeship Programs | $51,000 |
| Undergraduate Programs of two years or more in length, including: Bachelor’s Degree Certificate Diploma Journeyman Certificate | $85,000 *Up to $68,000 for either Commercial Aviation Training (maximum of $17,000 for each of four approved fixed-wing training components) or for Commercial Helicopter Training |
| Dental Hygiene | $95,000 |
| Pharmacy Graduate Studies | $125,000 |
| Law Masters of Business Administration Doctoral Studies | $150,000 |
| Chiropractic Medicine Dentistry Medicine Optometry Veterinary Medicine | $200,000 |
Part-time Loan Limits
The loan limit for part-time students is $10,000, or the amount they can have as an outstanding loan balance.
Alberta Student Loans Interest Rate
Alberta student loans are interest-free while you are still attending school. You only start paying back your loans with interest after you leave school.
When you begin repaying your student loans, your Alberta student loans interest rate is automatically set to a floating interest rate, which follows the current prime rate.
To view your interest rates, use your Alberta Student Loan login information to sign in to your MyLoan account. For your Canada student loan, log in to your NSLSC account.
Prime Rates
| Alberta Loans | Canada Loans |
| Interest rates on Alberta loans depend on the prime rate set by CIBC. | Interest rates on Canada loans depend on the prime rates set by the 5 biggest Canadian banks. |
Fixed vs. Floating Interest Rates
| Rate | Alberta Loans | Canada Loans |
| Floating rate | CIBC prime rate | Prime rate of Canadian banks |
| Fixed rate | CIBC prime rate | Prime rate of Canadian banks plus 2% |
Source: Alberta Student Aid
- If you prefer a fixed interest rate, contact the National Student Loans Service Centre or the Alberta Student Aid Service Centre.
- Compare the cost of selecting floating and fixed rates using the Government of Canada’s loan repayment estimator.
How to Repay Student Loans in Alberta
Eighty percent of Alberta students who apply for Alberta Student Aid get both Alberta and Canada student loans, which means they have two loan payments to pay.
Once you complete your studies, you are responsible for repayment according to your payment schedule set by the National Student Loans Service Centre or Alberta Student Aid Service Centre.
How to Repay Student Loans
The period in which you start repaying your loans depends on the type of student loan:
- For Alberta student loans:
- Effective July 1, 2023, repayment begins 12 months after you leave school
- Interest is added to your loan balance monthly
- A monthly repayment schedule is set up for you automatically
- For Canada student loans:
- Repayment begins six months after you leave school
- No interest for loans in repayment as of April 1, 2023; interest accrued on loans before April 1, 2023, needs to be paid
- A monthly repayment schedule is set up for you automatically
Your repayment schedule depends on your:
- Loan balance
- Interest rate
- Repayment term
| Repayment Term for Alberta Loans | Repayment Term for Alberta Loans | Repayment Term for Canada Loans |
| $0 – $3000 | 3 years | Determine the term using the loan repayment estimator from the Government of Canada |
| $3001 – $6000 | 8 years | |
| $6001 and more | 9.5 years |
You can customize your loan repayments to accommodate your personal and financial situation by:
- Adjusting your payment amount
- Changing your repayment schedule to coincide with when you get paid
- Modifying the frequency of your repayments (monthly, bi-weekly, or weekly)
Repayment Assistance Plan
If you have difficulty making the repayments, contact Student Aid for information about applying for a Repayment Assistance Plan (RAP) before your loan goes into default.
If you are eligible for a Repayment Assistance Plan (RAP), you will get reduced monthly payments based on your family size and income.
No payments are required if your income is below:
| Family Size | 1 | 2 | 3 | 4 |
| $25,000 | $39,000 | $50,500 | $59,500 |
You are eligible for a reduced payment if your income is below:
| Family Size | 1 | 2 | 3 | 4 |
| $50,000 | $60,000 | $80,500 | $100,500 |
Effective July 1, 2023, the thresholds for the RAP will be increased from $25,000 to $40,000 to help more students.
The Repayment Assistance Plan has two stages. Below are the main characteristics of each one:
Stage 1
- Provides help with temporary repayment difficulties
- Reduced monthly payments
- The government pays the interest
- Can last for up to 60 months during the 10-year period after you leave school
Stage 2
- Provides long-term assistance with ongoing difficulties
- Reduced monthly payments
- The Alberta government pays the principal and the interest on your loan that exceeds your reduced monthly payments
- Offered to borrowers who have been on RAP for over 10 years after leaving school
Repayment obligations will not exceed 15 years after you leave school. Alberta Student Aid requires you to reapply for RAP every six months.
Alberta Student Aid Contact Information
Individuals interested in applying for Alberta Student Aid can call the Alberta student loan number at 1 855 606-2096 (Option 3).
Other Alberta student aid contact details are accessible on their Contact Us page.
FAQs
Students with disabilities who have Alberta Student Loans are forgiven in extreme circumstances, specifically when they are eligible for Special Consideration. To apply for the program, the borrower can provide proof of approval from the Canada Student Financial Assistance Program for Severe Permanent Disability Benefit (SPDB). To obtain approval, the borrower must contact the Alberta Student Aid Service Centre.
The Alberta Student Aid Service Centre is the service provider for direct Alberta Student Loans and grants. The Alberta Student Aid–MyLoan manages Alberta Student Loans. The loans that have been issued since July 2001 are loans directly from the government.
According to the Canadian Student Loan Program, most students take ten years to pay off their Canada student loans. Information from Canada.ca states that the maximum amount of time that a student borrower repays a loan after leaving school is 15 years, in most cases, and ten years for persons with disability. With the Alberta Student Aid, repayment obligations (Repayment Assistance Plan) will not exceed 15 years after you leave school.
Yes, Canada student loans cover living expenses on top of tuition, fees, and books. The amount you receive as student aid includes monthly student living allowances covering costs for food, shelter, local transportation, and miscellaneous expenses.
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