AB announces new affordability measures for postsecondary students

The Government of Alberta has announced a new tuition cap and changes to the student loan system in order to make postsecondary education more affordable for students. Domestic tuition will be capped to 2% starting in 2024-25. Several changes have been made to the student loan system, including a reduction in student loan interest rates to the prime rate, doubling the student loan interest-free grace period to give students more time to find a job before paying back their loans, and increasing the thresholds for the Repayment Assistance Plan to $40K. AB will also retroactively increase the Alberta Student Grant by $225 a month during the 2022-23 loan year. CBC reports that international students were not included in these programs, and some students told City News that the tuition cap will come too late to help with upcoming tuition increases.