Frequently Asked Questions

How much will my education cost?

Take a look at the Undergraduate Educational Costs Brochure to find costs specific to your faculty.

What are some funding options, other than student loans?

Students can look for:

• On-Campus and Off-Campus Bursaries
• Scholarships
• Savings and Earnings
• Student Lines of Credit.

How much loan money can I get?

Please refer to the loan maximums information by selecting your province or territory of residence on the left.

How do I know whether I am an independent or a dependent student?

Please see our page on Dependent vs. Independent Status.

How do I know which province to apply to?

Visit our page on Determining Your Province of Residency.

How much will my parents be expected to contribute?

For dependent students (under 22, graduated high school less than 4 years ago, have not worked full time for 2 years or more), parents are expected to contribute to educational expenses. There is no set amount that parents must contribute; instead, their expected contribution is calculated proportionally to their income, how many children are attending post-secondary studies and the size of the family. Parents must fill out Schedule 1 of the Alberta Student Loan package. For an estimate you can use the CanLearn Parental Contribution Calculator.

The expected parental contribution is mandatory. Even if parents are not providing the student with that funding, the government will not give the student additional funding.

However, there are circumstances under which the expected parental contribution may be waived:

1. There is evidence of abuse (sexual, emotional, physical, mental) that causes the student to be removed from parents’ care. Please see our page on Dependent vs. Independent Status to check what constitutes sufficient grounds for declaring independent status.
2. Parents are deceased and therefore unable to contribute to the student's education.
3. Parents (and, consequently, the student's family) are in dire financial straits and cannot support both the student and the family.

In all the above cases, the student must send in the appropriate supporting documentation in order for government student loans to waive the expected parental contribution. The student may do this by submitting an appeals form. SFAIC carries appeals forms for most provinces.

I have a car, will this reduce my loan amount?

As of the 2008-2009 academic year, the value of vehicles will no longer be used as a resource in calculating Alberta or Canada funding eligibility. Vehicle information will continue to be collected on the application for the federal needs calculation.

For other provinces, the value of the vehicle may or may not be used as a resource in needs assessment.

How can I get funding to go on an exchange?

The following information is specific to Alberta Student Loans. Some of the information also applies for students with funding from other provinces. Please contact us for more information.

1. An exchange is when students take courses at another post-secondary institution through the University of Alberta. Tuition will go to the University of Alberta and not to the other institution.
2. If students are going on exchange and need funding, they have to fill out a Student Loan application form as well as a Schedule 3, which is included in the application package. In filling out the Schedule 3, the Home Educational Institution is the University of Alberta. Students should also include such documentation as a letter confirming that they are going on exchange.
3. Students are still bound by the limits/regulations of a regular student loan, such as the $13300 yearly limit for Alberta students. The Students Finance Board (SFB) will allow funding for return airfare. If students do not ask for a flight to be covered, the SFB will not provide it. A summer exchange program less than 12 weeks long, which is not mandatory for students, would not allow students to receive more funding than they would at home. For example, if students were dependent, living at home with their parents, they would not be eligible for more funding than $472 a month on their exchange.
4. If allowable costs exceed the loan maximum, students may have to look into scholarships, bursaries and student lines of credit.
5. In order to cash a loan while out of the country, students may need to give Power of Attorney to someone who can cash the loan in their place.

For the Cortona Program, students must still complete a Schedule 3 with the loan application. Tuition will not be the same as regular U of A tuition. For information on costs, pick up the Cortona Calendar at the Faculty of Arts office on the 6th Floor of the Humanities Centre.

Please visit University of Alberta International for more information about going on exchanges.

I have a practicum, work placement or internship. Am I still eligible for loans?

Students are still eligible for loans as long as the practicum, work placement or internship is worth a minimum of 9 credits. If study or placement away from Edmonton is mandatory, the Alberta government will fund airfare or moving expenses. Fill out Schedule 3 and include letters documenting exceptional expenses. If students are earning money for the practicum, work placement or internship, be sure to include it as a resource.

New, starting April 1, 2007: Medical students can maintain interest-free status while participitating in medical residency training. These students must get a Form B signed by the Student Access Centre on the 1st floor of the Administration Building if their residency training is done with the U of A. This interest-free status only applies to Alberta Student Loans. Payments will be required towards Canada Student Loans as per the consolidation agreement.

How do I get my loan forms signed?

Please see our Loan Signing page.

I have received a grant or bursary. How do I get my money?

• For Alberta, all full-time grants and bursaries will be direct deposited into students' bank accounts or, if no bank account information is available, a cheque will be mailed to a home address.
• Part-time bursary cheques may be picked up at the Fees Office on the 3rd Floor of the Administration Building.
• For out of province students, some cheques will be mailed or applied to loans directly. Cheques that need to be picked up can be found at our office. Come visit us for further information about pick-up location.
• Supplementary bursaries are mailed out to the home address.

What are the grounds for appealing my student loan?

• There are various grounds for appeal; however, only certain circumstances will typically result in a reassessment.
• Loans can be appealed if there has been a change in financial status due to medical costs, loss of job, separation from spouse, extra courses picked up, etc.
• The Students Finance Board will not grant additional funding for the purchase of a new car, paying off a bank loan, credit cards or money spent on Christmas.
• If you are not sure if your circumstances qualify as grounds for an appeal, you may ask a Financial Aid Advisor at the Student Financial Resources Centre in 1-80 SUB.
• To appeal, fill out a "Change of Circumstance” form, which can be downloaded in PDF format from the ALIS website or picked up at the Student Financial Resources Centre in 1-80 SUB.
• How to fill out the “Change of Circumstance” form:
• You will need to fill out the personal information section and the financial information that has changed since the original application.
• You may write in the space provided on page 3 of the form or include a letter to explain the reasons for your appeal.
• If you have a one time expense, simply indicate the amount and the reason in the space provided.
• You may include documentation (receipts, paystubs, etc.) to support any financial changes.
• Remember to sign and date the form, include your Social Insurance Number and your Alberta Student Number.
• If your information changes more than once during a period of study, subsequent appeals can be filed.
• If your “Change of Circumstance” is denied, you may submit a written request, to Students Finance, to go before the Public Appeal Committee. Once your request has been received, the Secretary of the committee will contact you to arrange an appointment for a meeting with the committee. This is the final avenue of appeal. You cannot appeal again unless your circumstances change.

I have more money, through savings and earnings, than I wrote on my application. Do I have to tell the Students Finance Board?

• If you saved or earned more money than you mentioned on your student loan application, you have to inform the Students’ Finance Board.
• You may write a letter or fill out a "Change of Circumstances“ form or a "Change of Information” form at the Student Financial Resources Centre, stating the exact amounts in savings or earnings. Remember to include your social insurance number, application reference number and your Alberta Student Number in the letter.
• You will be reassessed and may be asked to repay bursary money immediately or the over-award will be used as a resource when you apply for another loan.
• Students are responsible for providing complete and accurate information on applications. This is important since random audits are performed by the Students Finance Board.
• If you are audited, you will be required to provide financial records to verify costs and expenses for the period of study. If any discrepancies are discovered, funds may be cancelled, reduced or future funding suspended—or you could face prosecution.

I overestimated my expenses. Do I have to tell Students' Finance?

• If you overestimated your expenses on your application, you need to inform Students Finance. Any changes affecting your costs, income, family situation, student status or any other changes affecting you as a student must be reported to the Students Finance Board.
• You can report the difference in expenses (as well as any other changes that affect you as a student) by coming into the Student Financial Aid Information Centre office and filling out a “Change of Circumstances” form. Copies of paperwork documenting the change should accompany this form so that the changes can be substantiated by the Students Finance Board.
• Remember:
• Your loan application can be audited AT ANY TIME. Keep all receipts and paperwork documenting your expenses and resources so as to back up all claims on your loan application. If you experience a change in expenses or anything else, remember to keep all paperwork to document your changes.
• If your loan application is audited and you are unable to substantiate your expenses (or any other claims), your loan is subject to reduction, immediate bursary/grant repayment, possible denial of future loans and even fraud charges!
• Try to make an accurate estimation of expenses and resources. While it may be good at the time to get some extra cash and not claim the changes in your student life, it’s not worth all the extra hassle if your application gets audited! If you have any other questions, do not hesitate to come see a Financial Aid Advisor, or call (780) 492-3483.

What happens to my loans if I drop to part-time studies?

• If you withdraw from studies or if you drop to part-time status—that is, if you are enrolled in less than 3 courses (9 credits) per term for Fall and Winter—the Registrar’s office will not sign your loan certificates and will notify Students Finance of the change in your study information. (To check the status for Spring and Summer classes, contact the Registrar’s office or Student Financial Resources Centre.)
• If you have already cashed your loan before dropping to part-time status, you will have to return any bursary money immediately. Alberta Students Finance will contact you concerning repayment of a portion of your loan, or the amount will be used as a resource when you apply for another loan.
• Once more than 6 months have passed since your last End of Study date for full-time study, you will be required to start repaying your old loans.
• If you are remaining in classes part-time, you can apply for Part-time Funding.

I need a Confirmation of Enrollment Form, (Schedule 2, or Form B), where do I get it?

• You can get a Confirmation of Enrolment form from the Student Access Centre on the main floor of the Administration Building. You will need to get a Schedule 2 for your Canada student loan and a Form B for your Alberta student loan.
• You must be a full-time student (i.e. enrolled in at least 3 courses or 9 credits) in the current term for which you wish to confirm your enrolment. Confirmation of Enrolment foms are available only for the current term, not for past terms.
• There are postage-paid Confirmation of Enrolment envelopes for Edulinx and the National Student Loan Service Centre available at the Student Financial Resources Centre in 1-80 SUB.

When do I have to start repaying my student loans?

• Students are given a six–month grace period from their last End of Study Date before they need to repaying their loans.
• If you do not apply for a new loan and fail to inform your lenders, by way of a confirmation of enrolment form, you can enter repayment while still a full-time student. However, if you have completed your program, you must contact your lenders to arrange for repayment within six months of your End of Study Date.
• You will have to sign a Loan Consolidation Agreement, which combines your outstanding Alberta loans into a single repayment program, and a Consolidated Canada Student Loan Agreement which combines your Canada student loans into a single repayment program. Normally, Canada student loans and Alberta student loans are not consolidated together, however you can explore this option with your lenders.
• The Consolidation Agreement states the rate of interest you will be paying, the bank account the money will come from and the terms of repayment. The Agreement must be signed, whether you are able to repay the loan or not. If you are unable to repay the loan, you may contact your lenders to consider revising the terms of repayment or consider applying for Interest Relief.

What is Interest Relief? (Alberta)

• Beginning August 1, 2009, the new Repayment Assistance Plan (RAP) will replace the old federal Interest Relief program.
• Alberta no longer offers the Interest Relief program.
• Students can apply for RAP at any time during their repayment term.
• If you are approved for RAP on your Canada Student Loans, you are automatically approved on your Alberta Student loans.
• If you have both Alberta and Canada student loans submit only one application to the National Student Loans Service Center (the service provider for Canada Student Loans). They will process the application then forward it to Edulinx (the service provider for Alberta Student Loans).
• If you have just ASL, submit application to Edulinx.
• RAP is approved for 6 month period. If you want to continue to receive RAP, you must submit a new application every 6 months.

What does it mean to default on loans?

• Loans in default are loans that are 270 days past scheduled repayment. For most students, this is 270 days after the 6 month grace period after graduation. Once your loan goes into default, and you continue to be in arrears, the loan lenders will take action to recover the outstanding loan debt. These actions include taking legal processes, garnishing any government payments (tax returns, GST cheques), reporting to a credit agency and, eventually, selling the loan account to a private collection agency.
  NOTE: Once the loan has been sold to a collections agency, there is nothing the Students Finance Board or the staff at SFAIC can do to intervene on the student's behalf. The collection agency’s main goal is to recover the outstanding debt, and they have very little understanding toward student circumstances.
• If the loan lenders have informed the student of default, the student must contact them right away! Even if the student thinks he/she can’t repay your loan, there are options out there that can be discussed with loan lenders to help. However, once the loan lenders have informed the student of loan default, there is little time before the loan will be sold to a collections agency.
• Preventing default: students are given a 6 month grace period from the cessation of full-time studies (and/or graduation). As soon as this 6 month grace period is over, if loan lenders have not contacted the student with a repayment plan, the student must contact them. Contacting loan lenders will ensure open communication and prevent loans from going into default.

I'd like the Student Financial Aid Information Centre to make a presentation. Who do I contact?

Please e-mail us at sfaic@su.ualberta.ca.