Alberta Student Loans
One of the most important things that you need to know is about Alberta student loans and grants that are available to you, and how to obtain them if you are a resident of Alberta. Regardless of where you intend to attend college, if you live in Alberta, Canada, there are special things that you need to know about financing your education.
There are three sources of student loans if you are a resident of Alberta. These loans can come from the Providence of Alberta, the Federal Government of Canada, and from private financial institutions. You are eligible to receive funding from all three sources, if you have financial need. Because of more controlled interest rates, you should try to cover the cost of your education with Alberta grants and scholarships, which do not have to be repaid, followed by Alberta government student loans and the Canadian Federal Government. Loans from private financial institutions should be considered as a last resort because of they tend to more expensive but they may allow you to borrow more.
Alberta student loans in Canada are administered through the Alberta Students Finance Department, which is just a part of the Alberta Advanced Education and Technology Department. The department not only controls student loans in Alberta, but student grants and bursaries as well. When you apply to an Alberta student loan applicationfor financing through this department, your financial need will be determined, and it will also be determined as to which grants and bursaries you are eligible for, as well as any Canada student loans.
Funding is available for those who are fulltime students, as well as part time students, however if you will be a part time student, there is a different Alberta student loan application to fill out, and it is important to fill out the correct application form. If you are a fulltime student, the loan is interest free for as long as you are in school, but if you are a part time student, interest starts accruing immediately – while you are still in school. In either case, you will find that you get a response fairly soon after completing your government of Alberta student loans application – especially if you complete the application online.
If you are attending some type of occupational training or ESL studies, you may not be eligible for traditional student loans, but you are eligible for financial assistance through a program called Alberta Works. This program is administered through the Alberta Employment and Immigration.
When you graduate, you will have six months until your first payment is due. Any student loans that you have from the Canadian Government will be managed and repaid through the National Student Loan Service Centre, but Alberta government student loans must be repaid through Edulinx.
When you fill out the application for an Alberta student loan in Canada, you will also be automatically applying for student loans that are available through the Canadian Federal Government as well. You are not required, however, to accept both loans. You should accept the Alberta loan first, if you will only be accepting one.
For more information concerning Alberta Learning Information Service visit: Alberta student loans.
For information regarding Alberta Employment and Immigration visit: government of Alberta government student loans.
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