Alberta Student Loans, Explained

Post-secondary in Alberta is expensive, and most students use some form of aid to get through it. Alberta Student Aid is the provincial program that provides that help — a mix of loans you repay and grants you do not — usually alongside federal Canada Student Financial Assistance. This guide explains how the two fit together, with links to the official programs.

Grants vs. loans: know the difference

Student aid delivers two very different kinds of money, and it is worth being clear on which is which:

• Grants and scholarships are money you generally do not repay. Some are need-based, others reward academic achievement or specific circumstances. A grant can, however, convert to a repayable loan if your eligibility changes.
• Student loans are borrowed money you repay after you finish school. In Alberta these usually combine a federal (Canada) portion and a provincial (Alberta) portion assessed from a single application.

Always maximize grants before relying on loans — it is the cheapest funding you can get.

The programs behind the money

Funding flows from two sources working together: Alberta Student Aid, delivered by the Government of Alberta, and the federal Canada Student Financial Assistance program, created under the Canada Student Financial Assistance Act (SC 1994, c 28). One Alberta application is assessed for both.

Who can apply

Eligibility generally depends on:

• Being an Alberta resident enrolled in a designated program.
• Your (and sometimes your family's or spouse's) financial situation.
• Maintaining satisfactory academic progress.

Funding is based on assessed financial need — the gap between what your education costs and what you and your family are expected to contribute.

How the application works

1. Create an Alberta Student Aid account and complete one application per school year.
2. The same application is assessed for both grants and loans, so you do not apply for them separately.
3. Submit any supporting documents requested, and watch your account for updates.
4. Once approved, funding is typically released around the start of each term, often directly to your institution for tuition first.

Apply as early as you can before your study period starts — assessments take time, and late applications can leave you short at the beginning of the term.

Interest and repayment after school

You generally do not make payments while you are a full-time student. After that, a few facts matter a great deal:

• The federal portion is interest-free for good. As confirmed in Budget 2023, the Government of Canada permanently eliminated interest on Canada Student Loans and Canada Apprentice Loans (effective April 1, 2023), and no borrower earning under $40,000 a year has to make payments.
• The Alberta portion has a 12-month grace period. Alberta does not charge interest during the six-month non-repayment period, and repayment of the provincial loan begins after a grace period; interest on the Alberta portion accrues at the prime rate once repayment starts.
• Help exists if you struggle. The federal Repayment Assistance Plan can reduce or pause payments based on your income.

If aid is not enough — or you are not a student

Student aid is designed for education costs, not day-to-day emergencies. If you receive provincial income support such as AISH and need to understand your borrowing options, see our dedicated AISH loans page. And if you are weighing a general loan, our guide on how to get a loan in Alberta walks through the process step by step.

For the most current program details, amounts, and deadlines, always confirm directly with Alberta Student Aid — program terms change from year to year.