Overview
Student Aid provides loans and grants from both Alberta’s government and Canada’s government. You only have to apply once to be considered for both.
Using the information you give us on your application, Student Aid calculates how much money you can get from each source. We base our calculations on the policies set by both Alberta and Canada.
Learn more about the details of the two sources of student aid.
Full-time loans
Student loans help you pay for tuition, fees, books and living expenses. Student loans are like any other loan: you eventually need to pay them back.
You only submit one application, but you may receive loans from Alberta and Canada. This means you have two separate debts to repay.
Student loans are interest-free while you’re in school, and you don’t need to start paying them back until after you leave school.
| Alberta student loans | Canada student loans |
| Payments begin 12-months after you leave school (includes students who complete their studies on or after December 1, 2022). Once repayment begins interest will begin to accrue. |
Payments begin 6 months after you leave school. Once repayment begins there is no interest unless interest is owing prior to April 1, 2023. |
For details, see Chapter 2: Alberta student loan and Canada student loan in Repayment Essentials.
Who can get full-time loans?
Loans are for students enrolled in certificate, diploma, undergraduate and graduate programs at designated post-secondary institutions.
Eligibility for loans depends on financial need, resources and other factors.
How much money can I get?
There are limits to how much money you can get. The majority of students can receive up to $8,500 per semester in combined Alberta and Canada student loans.
To estimate how much money you’ll get, use the Student Financial Assistance Estimator.
Full-time grants
Grants can also help cover your educational costs. Grants don’t have to be repaid unless your eligibility changes.
Who can get full-time grants?
Grants are for students with special circumstances including, but not limited to, students from lower income families and *students with disabilities.
*You must be a person with a permanent disability, or persistent or prolonged disability as defined by the Canada Student Financial Assistance Program and provide acceptable documentation.
You’re automatically considered for grants based on the information you provide on your application. There are limits to the amount of Alberta student grant funding available.
List of full-time grants
Below is a list of all the grants full-time students are automatically considered for. There is a limit on Alberta grant funding available each year. If you do not receive grant funding, you may still be eligible to receive the maximum annual and lifetime loan amount available for each year you are in school.
If you qualify for a grant, Student Aid tells you in your award letter.
To estimate how much money you’ll get, use the Student Financial Assistance Estimator.
|
Grant |
Value |
Who it’s for |
|
Up to $3,000/year |
Students with disabilities who need financial support for services and equipment |
|
|
Up to $425/month |
Students whose yearly income is below the numbers set by the Alberta government The annual grant maximum is $5,100 per year. Eligible students will receive an average award of $3,400 per year. |
|
|
Up to $525/month |
Students whose yearly income is below the threshold set by the Canadian government *this grant has increased by 40 per cent over the 2019-2020 pre-pandemic amounts |
|
|
$280/month |
Students with dependants under the age of 12, or 18 and with a permanent disability *this grant has increased by 40 per cent over the 2019-2020 pre-pandemic amounts |
|
|
Canada Student Grant for Services and Equipment - Students with Disabilities |
Up to $20,000/year |
Students with disabilities who need financial support for services and equipment |
|
$2,800/year |
Students with disabilities *this grant has increased by 40 per cent over the 2019-2020 pre-pandemic amounts |
Losing grant money if your situation changes
There are circumstances where you have to pay back some or all of your grant money. This is called grant overpayment.
This happens when your living or education situation changes and you are no longer eligible for the grant. In this case, Student Aid converts the money into a loan.
The most common reason students have grant overpayments is because they drop classes and are no longer eligible for full-time grants.
- If you withdraw from classes within 30 days of your start date all your grant money will be converted to a loan
- If you withdraw from classes more than 30 days after your start date
Student Aid will determine how much of your grant money will be converted to a loan.
Grant overpayments can also happen if:
- you contact Student Aid to report a change in your personal information that reduces your financial eligibility.
- you complete your application incorrectly.