Alberta’s government is taking action to improve affordability, address inflation and make tuition more stable and predictable for Alberta’s post-secondary students.
As part of Budget 2023, government plans to improve affordability for post-secondary students by:
Capping domestic tuition increases at two per cent across an institution in 2024-25 and for future academic years.
Reducing interest rates on student loans to the prime rate, which will help reduce the cost of borrowing for both current and future Alberta student loan borrowers.
Doubling the student loan interest-free grace period from six months to 12 months to give students more time to find gainful employment without having to worry about student loan payments.
Increasing the thresholds for the Repayment Assistance Plan to $40,000 from $25,000 so more students can benefit from the program.
In addition, Alberta’s government is providing additional funding to increase the Alberta Student Grant by $225 per month for each eligible student during the 2022-23 loan year.
Learn more here: https://www.alberta.ca/release.cfm?xID=8654891207C47-BBDC-34F1-37A9D11289386AF4