The Alberta government plans to make it easier for students to access loans — and will introduce a new series of grants to keep certain graduates within the province.
Tory Advanced Education Minister Greg Weadick announced Monday the province will eliminate student income, RRSPs and parental earnings from being considered as part of eligibility for the provincial portion of student loans.
Instead, students will be expected to make a flat $1,500 contribution to their tuition, zero for single parents.
“It’s all about making sure that finances are never a barrier for students,” said Weadick at the announcement in Edmonton.
“As many students will attest, the application for an Alberta student loan has been incredibly complicated and in fact has turned some people off from pursuing their education altogether. We’ve fixed that ... instead of complicated calculations about how much you make or how much your parents make, you will know exactly how much you need to contribute and how much the government is willing to provide.”
The Progressive Conservative government’s student loan plan also calls for new graduation grants for students who complete their programs — $1,000 for a technical certificate, $1,500 for a diploma and $2,000 for an undergraduate or graduate degree.
The province will also introduce a new $1,000 retention grant for graduates in high-demand occupations who stay in Alberta for three years. The professions have not yet been determined but will include nurses, health professionals and technicians, doctors, teachers and social workers.
The government is also consolidating all its loan programs into a new Student Aid Alberta organization.
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