Repayment Essentials
Alberta Student Loan
myloan.studentaid.alberta.ca
|
Loan Status
|
In study | In Grace | In Repayment |
| You are in school | The 12-month period after you finish school | Begins the 1st day of the 13th month after your loan is In Grace | |
| Interest free period. |
Interest free period. Begins the first day of the next month, after your period of study end date. However, you can make payments while you are In Grace to pay your loans off faster. |
Interest accrues daily and is calculated monthly. A monthly payment schedule is set up for you automatically. Login to MyLoan to:
You can change the frequency of payments from monthly to biweekly or weekly, by calling the Alberta Student Aid Service Centre. |
Make Payments
You can easily make loan payments during the grace period by:
- Online or telephone banking
Add Alberta Student Loan as the payee, and use your Alberta Student Loan Number as the account number. TD Canada Trust customers must add PA-Alberta Student Loans Province of Alberta as the payee. - Personal cheque, money order, or cashier’s cheque
Make it payable to Government of Alberta, and be sure to include your Alberta Student Loan Number on the front of your payment method.
If you are live outside Canada and do not have a valid Canadian bank account, you can only make payments by international money orders. Credit card payments and payments from a bank line of credit are not accepted. Ensure your payment is received by the Alberta Student Aid Service Centre.
Alberta Student Loans | Interest Rate and Grace Period Changes - Effective July 1, 2023
- Floating and fixed interest rates on Alberta student loans is reduced to the prime rate.
- Alberta student loan interest-free grace period is extended from six months to 12-months to give students more time before having to make student loan payments (includes students who completed their studies on or after December 1, 2022).