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You have made the decision to further your education. Life as a college student can be very exciting and rewarding. However, obtaining a post-secondary education can be costly and needs to be well planned. The Financial Aid Team at GPRC is here to assist you in financing your educational endeavor.
What Will It Cost?
Tuition and Fees
Refer to the Estimate of Fees for the current year available from Student Services or online under Financial Aid.
Living Costs (minimal expenses)
For a current standard monthly living allowance chart, please refer to Alberta Student Aid's website at:
Books and Supply Costs
The Financial Aid Office at GPRC prepares an estimate of books and supplies for all College programs. This information is shared with Student Aid Alberta for consideration of grant and loan applications. If you require specific information on books and supply costs for your program, please contact the Financial Aid Office in Student Services or check GPRC’s website.
How Will You Cover the Costs?
Identify your sources of income:
- Grandparents or relatives
- Savings from summer jobs
- Employment income
- Investments (i.e. RESP, RRSP, GIC, TFSA, Stocks, Bonds)
- Scholarships or bursaries
- Student loan
For information about Alberta Student Loans please visit http://www.studentaid.alberta.ca/. For other provinces, please see the GPRC Financial Aid website for contact information.
What do I need to know before I apply?
The government student loan program is intended to supplement the basic cost of living expenses, tuition, fees, books, and supplies. Debts (such as vehicle payments, loan payments, and credit card bills) are not taken into consideration when determining the amount of loan money a student may receive.
Student loans are available to full-time and part-time students, who are enrolled in post-secondary programs. The Academic Upgrading program is not eligible for student loans. By completing one loan application, Alberta residents will be considered for both Provincial and Federal loan monies, as well as government grants and bursaries. In most provinces, you can apply for a student loan before registering in your program of study. However, you must be registered in your program before your student loan funds are released.
When applying for a student loan, you must determine your province of residency. In most cases, your home province is the last province you have lived in for twelve consecutive months without being a full-time post-secondary student. Some exceptions may apply. If you are unsure, please contact the Financial Aid Team and they can help you determine your province of residency.
Student loan applications for most provinces are available after June 1. Processing times vary from province to province and may take up to eight weeks. You are advised to apply early. Most provinces encourage students to complete an online application. Alberta residents can apply online at http://www.studentaid.alberta.ca/. Students from other provinces can visit the Financial Aid page of the GPRC website for links to provincial student loan providers. The application will require various information including your tuition, fees, and book costs, and what resources you will have available to you for the academic year. You will also need to have filed your income tax for the previous tax year and know the figure on line 15000 of your previous year's income tax assessment.
Where can I get assistance with my student loan application?
The Financial Aid office has computers available for accessing the online application. The Financial Aid team is here all-year-round to help you navigate the world of funding! No appointments necessary!
If I am registered with the College and another institution, what do I need to consider?
There are two terms used for students who have registrations with multiple institutions. Collaborative Enrollment means your schools have a formal agreement about your program of study and have a collaborative curriculum. Concurrent Enrollment means you are choosing to take transferable courses at different institutions to obtain credits toward your diploma or degree. In order for both institutions to be aware of your loan, and to ensure that you maintain full-time status for eligibility, you are encouraged to speak to the staff in the Financial Aid Office. The Financial Aid Team at GPRC is happy to assist you with the entire student loan process from application through to repayment.
What happens after I apply?
The Government Student Aid office in the province you apply to (e.g. Alberta Student Aid, Student Aid BC) assesses your application and determines your eligibility. You will receive communication explaining how much money you will receive and when to expect each disbursement. If you have applied online, most provinces have an inquiry section of their website where you can check the status of your application. Budget your money accordingly so that you can make it through the academic year with the funds provided.
Other important information about Student Loans
If your financial circumstances change, or you feel you did not have the opportunity to state your real situation, you can request a review. Contact the Financial Aid Office for assistance in requesting a review.
While you are registered as a full-time student, your loans are in an interest-free and payment-free status if you have filed the correct paperwork with your lenders. We encourage you to take advantage of Financial Aid’s services or to check with provincial Student Aid websites for information on maintaining interest-free status.
When you stop being a full-time student, you will be required to make your first loan payment to your lender about six months after your last day of studies. Remember that it’s extremely important to keep your address up-to-date with your lenders. Details on repayment assistance and repayment options are available through your lender(s). If you require assistance, the Financial Aid Office would be happy to help!
Part-time post-secondary students may qualify for a part-time study grant. Eligibility is based on the student’s (and their spouse's/partner's) line 15000 amount from the previous year’s income tax assessment. Applications are available at the Financial Aid Office or online at http://www.studentaid.alberta.ca/.
Funding for Students in Academic Upgrading
The Alberta Works Learner Benefits Program provides financially disadvantaged individuals with the opportunity to access the education and training they require to secure gainful employment. If eligible, students may receive grant funding for either full-time or part-time studies, which may include costs for tuition, books, and living allowance for the duration of their schooling.
GPRC Awards Program
The awards lists are available online at www.gprc.ab.ca/services/financialaid. Be watchful of deadlines.
Scholarships are merit-based awards and are available to students who have completed consecutive Fall and Winter Semesters on a full-time basis. Deadlines vary and many of the scholarships do not require an application.
Bursaries are awards based on financial need and other criteria. Full-time students who have successfully completed the Fall Semester and are enrolled full-time in the Winter Semester may be eligible. Applications are available online in October on myGPRC. Deadline to apply is in early January each year.
The Financial Aid Office sends e-mails regarding internal and external award opportunities on a regular basis. Be sure to check your student e-mail throughout the academic year.