Calculating Your Payment

Monthly payments for your student loans are calculated using:

  • your loan balance owing
  • the interest rate at the time your loan enters repayment, and
  • the repayment term for your loan.

A repayment term is the length of time (in months) it will take for you to fully repay your loans. The Alberta Student Aid Service Centre and National Student Loans Service Centre (NSLSC) will select the repayment term of your loans based on the total amount of your loan balance owing.

Planning your repayment is important. You can estimate what your monthly payment will be:

Repayment terms used for Alberta student loans:

Loan Balance Term (in months)

$0 - $3000 3 years
$3001 - $6000 8 years
$6001 and greater  9.5 years