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    Alberta makes it easier for students to obtain loans

    CBC – Mon, 13 Feb, 2012

    It should be easier for university and college students in Alberta to get loans after Aug. 1.

    All students will need only contribute a flat rate of $1,500.

    Students will no longer have to account for any savings they have, RRSPs, part-time earnings or parental contributions to determine whether they can get a loan.

    "This will help make a complicated system of student loans a lot easier to understand for students," said Farid Iskandar, with the students union at the Univeristy of Alberta.

    The province is also bringing in grants designed to encourage students to graduate and remain in Alberta.

    Completion grants, designed to ease a student’s debt load on graduation, will provide students who have loans with grants of between $1,000 and $2,000 upon graduation.

    In addition, retention grants will provide graduates who work in Alberta for three years in essential occupations with an additional $1,000.

    Professions included in the program will be announced at a later date.

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    1 comment

    • Banned Thought
      Banned Thought  •  3 months ago
      wow-very smart-just one of those ideas you wonder 'why didn't they think of that before?'...

      Now, two things-get rid of tuition all together. We end up refunding a big chunk of it anyway, and we end up paying huge amounts to administer those fees. It will end up costing the province pennies on the dollar, and remove a barrier to hard working people getting into school. And out of school with less debt.

      Next, Alberta has some of the best professors in the world, How about we get Alberta profs to write the texts where possible, get buy in from the facilities to use texts for some long period of time (say 10 years), and rent the texts out to students at one tenth the cost? It will immediately enrich and elevate deserving professors, elevate the universities where the professors work from, give universities additional revenue sources, and cut the ridiculous, obscene, predatory costs of books sourced from the US.

      Lastly consider extending the notion of debt forgiveness to those students who remain in the province. Too often are bright lights are poached by other jurisdictions. We just hand those smart people over after paying to educate them. That makes no sense. Set up a system that works something like for every year after you graduate we will forgive a certain percent of your loans until after (say) 5 years, you owe nothing.

      Education is the future. We need as many highly educated people as possible to compete.
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