Annual Loan Limits
The Annual Loan Limit is the amount of combined Alberta and Canada student loans you can receive for one year of study.
*If you are applying for 1 semester of funding in one of these programs, you can submit a Request for Reconsideration to receive up to $11,250.
Aviation Training Annual Loan Limits
You can receive a maximum of $15,000 for each of the 4 fixed wing training components. Commercial helicopter training is treated the same as 4 flight training components.
Exceptions to Annual Loan Limits
If you are receiving the maximum loan amount for your year of study, you are not eligible for additional loans unless:
- You have run into unexpected costs that were out of your control. Examples could be a natural disaster or a situation where your personal safety is at risk.
- You are studying outside Canada and there is a substantial change to the exchange rate.
- You are in your final year of an undergraduate or graduate degree program and you need additional loans to finish.
- You are in a program with a higher Annual Loan Limit, and you are not exceeding your Lifetime Loan Limit.
If you have been denied additional loans because you have received the Annual Loan Limit, but you believe you fall under one of these exceptions, you can submit a Request for Reconsideration. You will need to submit documentation that supports your request. You can receive a maximum of an additional $7,500 for these exceptional circumstances.
Remember, receiving more than your Annual Loan Limit will cause you to reach your Lifetime Loan Limit sooner. Be aware of how much you are borrowing.