The Ministry of Advanced Education has announced an action plan to make post-secondary education more affordable in Alberta.
In an email to student leaders last week, Advanced Education Minister Demetrios Nicolaides noted a series of money-saving initiatives that students can expect to benefit from as a result of the government‘s Budget 2023.
The marquee initiative - a two per cent domestic tuition cap in 2024-25.
“The Students’ Association of Bow Valley College applauds the government‘s action toward making post-secondary education more affordable,” said Taiani Bressan, Students’ Association of Bow Valley College [SABVC] Director of Internal Affairs. “We challenge the government to continue to recognize the student struggle and create more opportunities to focus on studies while worrying less about accumulating student debt.”
Also outlined in the email to students were plans to reduce interest rates on student loans to prime rate from prime plus one per cent, extend the student loan interest-free grace period from six months to 12 months, increase the Repayment Assistance Plan income threshold from $25,000 to $40,000, and enhance the Alberta Student Grant.
“SABVC acknowledges these plans as positive steps toward creating a more affordable student experience in Alberta,” said Bressan.