Student-loan program gets makeover
Post-secondary students should have an easier time applying for loans this year, thanks to changes announced Monday.
“This is a very important move so that students have access and a chance to get their post-secondary education in this province,” said Greg Weadick, minister of advanced education and technology.
Changes to the student aid program, effective Aug. 1, include a flat-rate contribution of $1,500 and elimination of savings, part-time earnings, RRSP or parental earnings as factors to determine loan eligibility.
Grants upon completion and retention grants for staying in Alberta to work will be offered, and there will be relief of interest during the six-month grace period after graduation.
Matt McMillan, vice-president, external, of the University of Calgary’s Students’ Union, said it’s an important step to being financially independent from parents.
“They have definitely helped clear some hurdles, which is good, but they are doing little to help students get out of debt,” he said.
(Source: metronews.ca)
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