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So, you know how much money you need, how much you
have, and now you need a plan to make up any difference. Let's
look at all the options that may be available to help you cover
the shortfall.
IF YOU NEED TO ACCESS A GOVERNMENT STUDENT LOAN
When it comes to paying for college, government student loans
have several advantages over private student loans including:
Interest free status your loans do not accrue interest
while you are a full-time student.
Repayment Assistance Program If required, your
monthly student loan payments can be reduced or
suspended, depending on your financial situation.
Grant eligibility as part of your student loan application,
you are automatically considered for various grants.
THE FIRST STEP TO ACCESS A STUDENT LOAN IS TO
DETERMINE YOUR PROVINCE OF RESIDENCE
You will need to apply for funding through your province or
territory of residence. Your province of residence is defined as
the last province you have lived in for one full year without
being a full-time student.
IF ALBERTA IS YOUR PROVINCE OF RESIDENCE
The governments of Alberta and Canada provide student
loans and grants to help you reach your post-secondary
educational goals.
When you apply as a full-time student, you are considered for
both Provincial and Federal student loans and grants. Financial
assistance is also available for students studying part-time.
Certificate, Diploma, Undergraduate and Graduate students
can receive up to $7,500 per semester in combined Alberta and
Canada student loans. Additional funds may be available in the
form of grants.
Part-time loan students could receive up to $10,000 per
academic year in Canada Student Loans. For more information
and to access resources, visit studentaid.alberta.ca.
PRIVATE STUDENT LOANS
If you are not eligible for government student loans, banks and
financial institutions offer private student loan options. Contact
your bank or financial institution to learn more about programs
they have available for students.
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