Students in Alberta who
are planning to complete their post-secondary education can get financial assistance from Alberta Student
Finance (ASF). A part of Alberta Advanced Education and Technology, ASF offers funding in the form of grants
and loans to students who fulfil the eligibility criteria. ASF works on the principle that the cost of an
individual's education should be shared between students, their families and the Government.
ASF has laid out certain eligibility criteria that must be fulfilled by a student to receive loans and
grants. Some of the main eligibility criteria include being a resident of Alberta, being enrolled as a
full-time student, maintaining passing grades and passing a credit check. Along with these, it is also
important for the student to demonstrate financial need.
Financial need refer to the shortage students
face in terms of the finances required and the resources available to them. The financing that you receive
from Alberta Student Finance will be calculated based only on your financial need.
Once you have estimated your financial need, you should initiate the application process to ASF. You have the
option of applying either online or on paper. Online applications can be submitted by either Alberta
residents who are attending full-time classes, or by students with a permanent disability. Should you plan to
submit a paper application, you would need to visit either an Alberta Service Centre or the financial aid
office at your post-secondary college.
Once your application has been approved, your loan will be issued by the Alberta Government and will be
processed through EDULINX. Eligible students will receive an Alberta Student Loan Agreement and an
information sheet on how to cash the loan. You can either choose to get your loan amount as a cheque in
the mail, or you can get it deposited directly into your account.
After receiving your loan amount it is important to manage it properly to ensure that there are no troubles
during the repayment process. You should keep your information up to date with EDULINX and should inform them
of any changes to your name, address, marital status or finances. You can manage all aspects of your loan
online by registering with EDULINX online services.
Repayment of your loan on time is essential to prevent accumulation of interest and penalties. Repayment is
mandatory even if you do not complete your education or do not find a job. If you miss your payments, your
credit ranking will be severely affected.
If you are having or foresee difficulty in repaying your loans, you should contact EDULINX for a change in
the terms of your loan. In such a scenario, changes can be made to your loan amount, payment terms and
payment dates. Furthermore, if you successfully complete your post-secondary study, the Government of Alberta
may reduce your loan amount. If you are eligible for this relief, your loan amount will automatically be
reduced within six months of your completing your education.•
Photo courtesy of sxc / harrykeely