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Student Funding

There are many options to help you fund your education. Our Financial Aid Officer on campus will available to assist you prepare student loan documentation, provide confirmation of enrolment to release RESP's or obtain private loans, and help you find funding.

Student Loans/Financial Aid

Applications for Government Student Loans are completed from your province of residence (where you have resided for the last 12 consecutive months while not in College or University). 

To apply in Alberta, visit: Alberta Student Aid. For other provinces, Search “Province Name” Student Aid. 

Please note: Olds College now requests tuition and mandatory fees remittance where available from your government student loan provider. This means your tuition and compulsory (mandatory) fees will be sent directly to Olds College. You are still responsible to ensure that any other fees such as housing, meal plans, etc., are paid by your program fee deadline. Fee deadlines are found on the current academic year Program Dates & Fee Schedule.

  • Government student loans are interest-free while you are in school, and you don't have to start paying back the loan until six months after your full-time enrolment ends. When you submit an application for a full-time government student loan, you will automatically be assessed for the grants and bursaries offered by the federal and provincial governments as part of the student loans program.

    To apply for government student loans and grants, you must:

    • Be a Canadian citizen or permanent resident (landed immigrant).

    • Demonstrate financial need.

    • Be enroled in at least 60% of a full course load in an eligible post-secondary program. (Students with a documented disability may be eligible to receive full-time funding while studying at a reduced course load.)

    How To Apply

    Applications for full-time students are completed online for Alberta Student Aid. You must have a verified Alberta Account to access the Alberta Student Aid system. Full instructions can be found at Alberta Student Aid/Apply.

    For out of province applications, refer to your student loan provider instructions.

    Apply early. Applications should be submitted at least 60 days before the start of your program so that you have time to budget and be prepared.

  • Government student loans are based on your assessed financial need. Qualified part-time students in Canada could get up to $10,000 in federal loans. In addition, part-time student grants are also available. Your eligibility for grants is assessed automatically when you apply and qualify for student financial assistance through your province or territory of residence.

    Part-time funding is intended to help cover the cost of tuition, books, travel and childcare. Unlike full-time funding, part-time students cannot apply for funding to cover their living expenses (e.g. rent, utilities, food, etc.)

    To apply for government student loans and grants, you must:

    • Canadian citizen or permanent resident (landed immigrant).

    • Part-time funding is income based so you must demonstrate financial need based on last year's income.

    • Must be enrolled in 20 - 59% of a full-time course load (less than nine credits per semester).

    • Courses must be part of an approved program of study.

    • To maintain eligibility you must pass your courses.

    • Continuing Education programs (unless government approved) do not qualify for student loans.

    How To Apply

    Contact the Student Funding Officer at studentaccounts@oldscollege.ca or 403.556.4677 to see what you might be eligible for.

    Download the part-time application from Applications and Forms. Save a copy of the application to your computer, fill in the Applicant sections and save/print. 

    Send the completed application to: studentaccounts@oldscollege.ca to fill out the post-secondary section (Section 5). It will then be sent back to you. 

    When you are ready to upload your part-time application:

    • Ensure you have completed all fields in each section, as required. This includes sections completed by other parties. 
    • Do NOT submit Section 5 and Section 8, (if applicable) as standalone documents. They must accompany the entire part-time application.
    • Scan and save the completed application to your computer.
    • Login to your Alberta Student Aid account and securely submit all required sections of the application. For more information, see eDocument Upload Instructions. 

    For out of province applications, refer to your student loan provider instructions.

     

  • Olds College determines whether you’re full-time or part-time based on your course load, not Student Aid. It is possible that you could take fewer than the maximum amount of courses in a program and still be considered a full-time student. 

    If you are unsure, contact the Student Funding office at 403.556.4677 or email: studentaccounts@oldscollege.ca 

Additional Funding Options

Registered Education Savings Plan (RESP)

RESP funds can be used to full-time studies in a qualifying program. Check with your RESP provider regarding program eligibility and procedures for withdrawing funds.

  • Verification of Enrolment: RESP providers often ask for a verification or confirmation of enrolment. You must request these forms on your own behalf - contact Enrolment Services enrolmentservices@oldscollege.ca. You can give permission to a third party to make this request for you, but you must first sign and send a Consent to Release Student Information Form to the Registrar's Office.

Third Party Sponsorship

Ensure that the Sponsorship Agreement Form is completed and signed by both the student and sponsoring agency and submitted to Olds College before the Fee Deadline. Sponsorship Agreements can be emailed to studentaccounts@oldscollege.ca

Third Party Sponsorship Agreement Form

Student Line of Credit

Most financial institutions offer student loans or student lines of credit which are different from a loan because you don't have to borrow the full amount at once. You can withdraw money from your line of credit as you need it, much like using a credit card. You will need a co-signer - a person who can act as your guarantor if you are unable to pay off your loan or line of credit. With a personal loan or student line of credit you pay only the interest while you are in school. You begin repayment of the principal when you cease to be a full-time student.

Working While in School

Many resources in Olds can help you in finding a job while you study. Your job search headquarters in the Olds area is the Alberta Works Olds Office at the Ralph Klein Centre located at the south end of the Olds College campus. There you will find free access to computers, printing, copying, phone use and help from staff in your job search process. Job boards are available for viewing at the Alberta Works office.

Student Loans FAQ

  • Some Olds College programs have offset start dates and deadlines making it a challenge to budget your student funding. Student loans are disbursed twice throughout your study period if you choose to apply once for funding by the full year so it’s important to be aware of time between each term’s fee deadline and your disbursement dates.

    Example: You are applying for funding for your program that has three terms in the academic year. You are living on campus and your housing and meal plan fees will be applied to your Olds College student account balance. You will then need to budget and ensure that you have enough living allowance funds for each of the three term fee deadlines in order to avoid late fees. 

    You may also have the option to apply for your student loan by term. This will ensure that your tuition and fees will be remitted to Olds College in time for fee deadlines. You are still responsible for ensuring that your housing and meal plan fees are paid by the fee deadline.

    • The best way to check the status of your application is to log into your Student Financial Assistance portal of your province. 
    • Call the student financial assistance office of your province or territory. In Alberta call the Alberta Student Aid service centre at 1.855.606.2096 (toll free anywhere in North America). 
    • Call or visit Olds College Office of the Registar  403.556.4677

    If there is a problem with your student loan, your first contact should be with the student financial assistance office of your province or territory. 

  • If there are no issues with your student loan application, Alberta Student Aid will upload an award letter to your Student Aid Account inbox.This letter will have a breakdown of how much loan and/or grant money you will receive. 

    Before your student loan can be disbursed to you:

    • You must complete your loan agreement(s)
    • Olds College must confirm your enrolment for the program you stated on your application

    Learn more about what happens after you’re approved for a student loan.

  • We understand that sometimes, disbursement dates don’t align with deadlines. You can fill out a Fee Deadline Extension Request form and upload documentation that funds are arriving after the fee deadline.

Explore Office of the Registrar

Need Assistance?

Office of the Registrar

studentaccounts@oldscollege.ca
403.556.4677