Alberta’s government is increasing the Alberta Student Grant to make post-secondary education more affordable for more than 20,000 students and their families.
Since its creation in 2020, the Alberta Student Grant has helped reduce financial barriers for low-income students so they can focus on their education.
Effective immediately, eligible Alberta Student Grant recipients for the 2023-24 academic year will receive up to $5,100 in non-repayable funding support. Monthly support payments will rise from $250 to $425 per month, an increase from the 2022-23 academic year.
“No student should be deterred from reaching their career goals. Alberta’s government will continue to find ways to keep life affordable for Albertans and to set them up for success, both during and after their studies.”
Alberta Student Grant applications for the upcoming academic year will open on June 28.
To ensure a smooth process, students applying for Alberta student loans will be automatically assessed for Alberta Student Grant eligibility. No separate application will be necessary.
- Earlier this year, Alberta’s government announced more affordability measures that will provide further financial relief to Alberta student loan borrowers, effective July 1:
- Interest rates are reduced from prime plus one per cent.
- The student loan interest-free grace period doubled from six months to 12 months.
- The threshold for the Repayment Assistance Plan increased from $25,000 to $40,000 so more students can benefit from the program.