Alberta student loans – If you are looking for a student loan for the first time and don’t know where to start, then read the article carefully, we all know that student loans can be complicated, but we will provide you with the best information about how to apply for a loan. Alberta Student Loans can be the option to apply for a loan.
Alberta Student Aid provides students with the
⇨ Facilities of loans at affordable costs,
⇨ Scholarships for students to meet their necessity
⇨ Awards to help cover your expenses while you’re in school.
In the event that you are applying for loans and grants for full-time or part-time studies, then look at its eligibility criteria and how to apply for it.
Students who are viewed as residents of Alberta are considered as eligible candidates for applying for full-time and part-time funding through Alberta Student Aid. There is one online application that surveys you for all loans and grants that are accessible through the provincial and central governments.
Alberta Student Aid and the Canada Student Loans Program helps you in computing your qualification using your financial need formula comparing your costs and your assets or resources. The given formula is:
Your monetary need = Education and living expenses of yours – what you contribute
Eligibility For Alberta Student Loans
- 1.Citizenship and Residency – if you want to receive aid for full-time studies or course,
- (a) you must be a Canadian citizen or permanent resident
- (b) you must have protected person status
- (c) You must also be a resident of Alberta.
- 2. Full-time course load – Students who will be considered for full-time student course if he/she –
- (a) is selected at any rate 60% of what your school considers a full-time course load, or
- (b) has a permanent disability and are enrolled up within any event 40% of a full-time course load
- (c) is going to attend an authorized or licensed private career college in a program that is 12 weeks or more and has 20+ guidance/practicum hours out of each week.
3. Eligibility to Apply for Student Aid as a Full Time Student under the Following Categories –
(A) In case you are doing multiple schools at once
In case, you are enrolled in part-time at multiple schools with the goal that your complete course load adds up to full time, this is called concurrent enrollment. Don’t worry, you can also apply for student aid as a full-time student.
For this situation, you pick one of your schools to be your “primary educational institution “, so you can complete your Student Aid application with the help of this data. Whenever you’ve submitted your application through online mode, then you have to upload a Schedule 3 for the concurrent enrollment with the information that has remained about your school.
(B) In case, you are doing an integrated program or diploma
In case, you are doing an integrated internship, co-op, or any practicum included in your study program, you still are eligible for student aid, but with the two following conditions-
You need to complete the internship so that you can get the degree of it, and whatever they give you like a diploma or certificate related to it. Your school must be considered a full-time student while doing your internship.
(C) if you are doing an exchange or field study – yes, you are eligible for Alberta Student Loan Login
(D) In case, you are an outsider- If you are studying outside Canada or an outsider, you also are eligible for the alberta student aid. as if you are enrolled and taking tuition outside of canada.
But, keep one point in your mind, that when you apply for an Alberta Student Loan, you must have to enter your costs and resources in Canadian dollars, because of factoring in the exchange rate.
How to Apply For Alberta Student Loan
Alberta student loans application – Before applying you need to keep one thing in your mind, first, you need to submit one application for taking loans and grants from both the government of Alberta and Canada. Well, most of the students get money from both of them, which means you will get two smaller loans instead of a big one. For checking,
APPLY EARLY– In order to check how much money you will get is to apply and wait for your award letter, you should apply 60 days before your classes start so that you will get enough time to figure out your expenses.
APPLY EVERY YEAR AT LEAST – 12 months is the time period for a student to apply at once. if the time period of your study is no longer, you have to submit another application as well.
When you are ready to apply for student aid for full-time studies: you need to create your Alberta Student Aid account. Through your secured account you can submit applications for student loans, grants, and scholarships. You will receive messages in your inbox and you can send information and upload documents.
Step-1) The first step to creating your account is to set up your My Alberta Digital ID. My Alberta Digital ID is a free account that verifies your online identity. You can use it to access a variety of Government services.
Step-2) Go to the Student Aid Website by clicking the blue button given below, and you will find the “Sign in Button“ on the right side of your screen.
Step-3) On the My Alberta Digital ID sign-in page, you have to click on the “Create an Account”.
Step-4) Fill in the required data as your “Name” and the Email Address, you are using to create your account. Then you need to go to your Email in order to verify your account. Oh great, you have made My Alberta Digital ID a basic account.
Step-5) The next step is to verify your identity. You will have 4 options ( through which you can verify your identity) on your screen named as –
1. A My Alberta Digital ID Verified Account
To use this option, follow the mentioned steps in your My Alberta Digital ID account. This option requires an Alberta driver’s license or ID card. An access code will be mailed to the address on your ID. It may take a few days for it to come in the mail. Once you have received the access code, sign in to your My Alberta digital ID account, and follow the instructions to complete the verification. Your identity is verified, continue to your Student Aid account to apply.
2. Secure Identity Access Management System
From My Alberta Digital account continue to the Secure Identity Access Management System. The first option here is the use of your official high school marks from 2 diploma level courses at a high school in Alberta. Choose your high school from the list and enter your course names and marks. The information you have entered matched government records, your identity is verified.)
3. Master Student Financial Assistance Agreement
4. Cashed Loan Certificates.
Options 3 and 4 are for students who have received student loans in the past. If you have completed a Master Student Financial Assistance Agreement, or MSFAA, for a student loan. You can use the MSFAA # to verify your identity. If you received student loans before 2012, you have cashed loan certificates. You can use the certificate number on those documents to verify your identity.
The final step to create your secure Alberta Student Aid account is to provide the information the government needs to match your new account with existing records.
You need to provide your :
- 1. Alberta Student Number
- 2. Date of birth
- 3. Social Insurance Number.
Great, now you are ready to apply.
Alberta Student Loans Application
How to Complete Your Application ?
In order to complete your alberta student loans application, you need to follow the below-mentioned steps for student loans and grants. Before you complete your applications, make sure you have already made your account. Apply for Alberta Student Loans –
Step-1) Once you have created your account, enter your social student number.
Step-2) After that, you will have the welcome page on your screen, if you are ready to apply, choose the application year based on your year of Study. You need to click on the “Apply” button.
Step-3) Now you will have three options in front of you named as –
1. Personal Information
This section contains your profile information, Email, and mainly the address of yours. And to determine your eligibility, fill the form properly.
2. Studies Information
This section is to tell about your school, course, programs and costs. Fill it properly and recheck it.
3. Financial Information
This section is about the costs and resources. Once all the sections you have completed, you can submit your application.
If you want to request a specific amount of student aid, you can enter into the requested need feed. If you just want the maximum student aid you are eligible for, you will see a “Clear Blank” fill it.
Now a page will appear with the heading “Declaration Information” and click the box that says “I have read all this carefully” so you have submitted successfully.
Alberta Student Loans Interest Rate
How to Keep You Loan Interest Free?
Alberta student loans interest rate – If you are studying, full-time, you don’t have to make payments and your loans will be interest-free. After finishing your studies, your loans enter a 6 month grace period, where you don’t need to make any payments with no interest with it. At the end of your 6b months time period, your loan will enter the status of repayment as:
Interest-free status is available for full-time and part-time students. In some circumstances, you need to tell Student Aid that you’re still a student in order to maintain interest-free status.
Under Special Circumstances
The following mentioned students are also eligible for interest free status :
- 1. Students of Medical – Medical students will also have interest free status for Alberta student loans
- 2. Parental Leave– If you’re taking a break from full-time or part-time studies for parental leave, you can have interest-free status on your Alberta loans.
- 3. Canadian Forces Reservist-: If you’re a full-time student and you stop your full-time study to serve in a designated operation, you can have interest-free status on your Canada and Alberta loans.
Alberta Student Loans Repayment
Student loans can be paid back… yes you read rightly.
What to expect when you leave school .
A half-year after you leave school, you’ll begin repaying your loans. Your regularly scheduled installment or payment is automatically calculated. Your repayment plan depends upon:
- ⇨ Your credit balance (the amount you owe)
- ⇨ Your loan fee (the charge you pay to acquire cash)
- ⇨ Your repayment term (how long it will require for you to take care of your credits dependent on your repayment plan)
- ⇨ Alberta student loans repayment
Alberta Student Loans Contact
Alberta student loans contact – 1-855-606-2096 is the toll-free number in North America, you can contact them between the timing 7:30 a.m. to 8:30 p.m. Alberta time (MST)
MAILING ADDRESS –
Alberta Student Aid
Box 28000 Station Main
Edmonton, Alberta T5J 4R4
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