November 06, 2006
Post-secondary education will soon be more affordable for students. A new framework includes a tuition fee policy that will save the average two-year diploma student $1,600, and the average four-year undergraduate student more than $3,800.
Under the new policy, tuition rates will be set at 2004 levels. Starting in fall 2007, annual tuition increases will be limited to the rate of inflation (3.3 per cent for September 2007). Under the previous policy, next year’s increases would have ranged from six to 11 per cent.
Post-secondary institutions will receive an additional $136 million in funding over the next three years to make up for the lower tuition revenue.
The tuition fee policy is part of a larger plan to make post-secondary education more affordable. Other changes include:
- More financial support for part-time students.
- No longer requiring students to pay their student loans while on parental leave or completing an internship or residency program.
- Extending lifetime student loan limits for students returning to school who have repaid their previous student loans.
- Expanding eligibility for the Rutherford Scholarships (more information).
- Expanding programs that encourage Albertans to pursue post-secondary studies.
- Continuing the rural incentive bursary beyond 2008-09 (more information).
These immediate changes will cost $14 million over the next three years and will be funded within existing budgets. Other planned changes to the student assistance program will require future funding approval:
- Better reflection of students’ living and learning costs.
- Lower interest rates on student loans.
- Incentives for under-represented groups to pursue post-secondary education.
- Employer and community partnerships to improve the affordability of post-secondary education.
The affordability framework is based on the recommendations of the A Learning Alberta report, which came out of last year’s review of Alberta’s post-secondary system.
More information
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