As of March 30, 2020, all Alberta and Canada student loan repayment and interest charges will be suspended for six months. Borrowers do not need to apply for this benefit; it will be applied automatically. This applies to student loan borrowers in good standing and those in collections.
During this time, borrowers will still be able to make payments that will be applied directly to their loan balance, should they choose to do so.
Government Student Loans & Grants InformationLooking for valuable resources about student loans and repayment? Check out these videos:
About Student Loans
Student loans are a popular option for funding your education but there are several things to keep in mind to ensure you secure the financial support in a timely fashion:
- Be accurately informed about eligibility. Many students who are eligible for loans fail to take advantage of this funding source because they don't have the right information.
- Apply early (current student loan applications are usually available in June). To ensure funding is in place by September apply by June 30.
- Funds are not actually transferred to your account until after classes have begun so ensure you have a plan in place to pay for textbooks and supplies.
- If your loan funding is likely to be late, speak to us in Student Financial Aid about options available to you.
If you apply late (after Aug. 1 for Alberta and July 15 for most other provinces), the time from application to actually receiving funds is longer because of the volume of applications being processed by governments later in their cycle. In this case, we strongly suggest you put interim or short term financing in place until your government loan funding arrives. (We may be able to provide a deferral of your tuition costs. We are unable, however, to provide for the larger expenses such as accommodation, living and book costs).
Alberta Student Aid
Apply online for full-time student aid, manage your loan repayment and access resources to help you budget while you study.
Did you know?
Alberta Student Aid is providing student borrowers an opportunity to manage the repayment of their student loads through a self-service loan management tool.
Click here to download the information sheet.