The Government of Alberta announced changes to the Alberta Student Financial Aid system for the upcoming academic year that will make it easier for many students to attend university and college in September.
"These are some fantastic changes that we've been looking for the government to implement for some time," said Steven Dollansky, University of Alberta Students' Union Vice President (External). "This is a significant step and we are looking forward to continuing our work with the government to improve the accessibility and affordability of higher education."
Among the changes are:
- A 2.5% cut in interest rates on student loans;
- Increasing the part time earning exemptions to $800;
- Eliminating scholarship restrictions on loan calculations; and
- Increasing living allowances by 5%.
"Despite these changes, we still need to do more to ensure students are not unnecessarily burdened by debt upon graduation. We hope to continue with progress on making our post secondary system more affordable and improving the quality of the education in Alberta in the coming year," concluded Dollansky.