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Student Financial Aid and Scholarships

Expires: April 30, 20242028

Facts

  1. Post-SecondaryUniversity education is not only a benefit to individual graduates, but is also a public good due to positive impacts on economic productivity and government revenuerevenue. 1.
  2. The University of Alberta, the Government of Alberta, and the Government of Canada have a responsibility to make post-secondary education accessible to qualified people of all backgrounds so that they may achieve their full potential. 2,3
  3. The opportunity cost of ​participating in post-secondary education includesis both the direct expenses students incur (tuition, fees, the cost of educational materials, and living expenses.expenses) as well as all potential income students lose when they choose to attend a post-secondary institution.
  4. The cost of university education ​has increased rapidly in Canada in recent decades, with tuition alonefor a bachelors in Canada rising over 270%190% in real terms since 1990.1981. This has forced

    resulted increasingin numbers54% of studentsCanadian tobachelor takegraduates outhaving largeowed studentdebt loansat thattime areof burdensomegraduation, laterwith in45% lifeowing debts larger than $25 000. 25.

    1. 53% of Alberta post-secondary graduates owe debt at time o graduation, with 52% owing debts larger than $25 000.6

    2. The average bachelor debt owed at time of graduation is $28 000 for all Canadians,5 with the average bachelor debt owed at time of graduation being $31 000 for Albertans.6

  5. The high cost of university education is both a disincentive to beginning a university education and ​an obstacle to completing one.
  6. Students lose significant potential income when they choose to pursue a university education instead of full-time work.
  7. Some students require either full or part-time employment ​while attending university to meet their financial needs, which can reduce their opportunities for academic achievement and extracurricular activity3
    activity.
  8. Both needs-based and merit-based awards, and both repayable and non-repayable aid, are integral parts of the student financial aid system, as they provide students with the support needed to complete their education.

    1. Bursaries are non-repayable funds that help with academic and basic living costs for students who find themselves in financial need. 7

    2. The current

      Scholarships applicationand processawards are available for students as non-repayable funds based on different criteria that may include needs-based and/or merit-based considerations. 8

    3. The Emergency Loan Program and student loans both constitute repayable financial aidaid. is9,10

      inefficient
      4. and
    inaccessible.3
  9. Needs-based aid ​plays an essential role in allowing students from less privileged socioeconomic backgrounds to access university education.
  10. Merit-based awards typically target students who ​have less financial need3, and as a result are not sufficient on their own to ensure the accessibility of post-secondary education​.Education tax credits are an inefficient and poorly targeted mechanism for distributing student financial aid311.
  11. Merit-based awards typically target students who ​have less financial need4, and as a result are not sufficient on their own to ensure the accessibility of post-secondary education​.
  12. Education tax credits are an inefficient and poorly targeted mechanism for distributing student financial aid6.

  13. Up-front, non-repayable, needs-based grants representare the most accessible and

    fair method of distributingeffective student financial aid distribution mechanism for ensuring greater accessibility of post-secondary education. 12

    1. Up-front, non-repayable, needs-based grants can focus on students who most need aid, as opposed to other methods, such as tax credits, which tend to primarily benefit more affluent families.413

  14. 56.9% of surveyed University of Alberta students who sought needs-based financial aid reported the application being too difficult or opaque indicating inaccessibility, and hence, inefficiency in providing appropriate aid to students. 14.

  15. Alberta Student Aid funded scholarships do not consider approved accommodations from students registered with Accessibility Resources for an approved reduced courseload.14

  16. While the post-secondary system requires a strong student financial aid system, reducing the total cost of a university education is the best way to ensure the accessibility of post-secondary education and prevent aid loopholes.education.

Resolutions

  1. The Students' Union advocatesshall advocate for a provincial financial aid system that:
    1. Includes increased relative and absolute amounts of non-repayable assistance, including but not limited to grants and bursaries;
    2. Recognizes the importance of need-needs-based student financial aid that increases the relative and absolute amounts and number of need needs-based aid awards, which are awarded based on students’ financial need and/or involvement;
    3. Is accessible to all Alberta students attending not-for-profit post-secondary institutions;
    4. Recognizes the complete overhead costs of education to the learner including, but not limited to, rent and utility costs, textbook and materials costs, transportation costs, food, personal care, internet, and computer costs;
    5. Includes adjustments to all forms of financial assistance to reflect changes in market realities
      as they affect students; and catastrophic events
    6. Eases the growing burden of student debt to post-secondary graduates;
    7. Increases the number of awards targeted to traditionally barriered populations, including but not limited to, Aboriginal students, rural students, students with disabilities, and low-income students.
    8. Acknowledges the unique financial needs of students with dependents and students living with disabilities, and provides the necessary resources to ensure those needs are met.met;

    9. Does not discriminate against students with approved accommodations, such as reduced courseloads.

  2. The Students’ Union advocatesshall advocate for Studentstudent Financialfinancial Assistanceassistance provided by the University of Alberta that:
    1. Increases the number and value of need-needs-based awards to continuing undergraduate students such that they are consistent with the number and value of entrance awards;
    2. Increases the monetary value of awards and bursaries in conjunction with any increase to the cost of higher education;
    3. Increases the number of available awards as enrolment of students increases;
    4. Annually discloses the ratio of needneeds to merit-based aid, and the distribution of awardsaid between years of study;
    5. Has an efficient application process that connects more students to funding.
  3. The Students’ Union advocatesshall advocate that donors support students from diverse backgrounds and with diverse skills via scholarships and bursaries.
  4. The Students’ Union shall lobbyadvocate the University of Alberta to increase the number and value of awards granted to continuing undergraduate students in order to be consistent with the number and value of entrance awards.
  5. The Students’ Union shall lobbyadvocate the University of Alberta and the Government of Alberta to increase the relative and absolute amounts of scholarships and bursaries that are awarded based on the students’ financial need and/or involvement.
  6. The Students’ Union shall work towards tailoring the SU Awards to a needs-based model to reward not only excellence in leadership and academics, but also to those who need financial support the most.

  7. The Students’Student’s Union shall pursueadvocate athat singlemore digital portal to accessof the provincialmerit-based awards provided by the University of Alberta and Universitythe studentGovernment aid,of scholarships,Alberta, andconsider bursariesfinancial applicationneed.

    process.
  8. The Students’ Union shall advocate that a significant portion of the merit-based awards provided by the University of Alberta and the Government of Alberta a ​provide a higher

    proportion of merit-based awardsare on the basis​ of leadership and community involvement rather than academic performance.

  9. The Students’ Union shall advocate that the University of Alberta and the Government of Alberta publish detailed statistics regarding the demographic composition of student aid recipients, their sector of study, and other information that may be relevant to determine the impact of student financial aid on post-secondary participation rates.


11. Heller, D. (March 2006). Merit aid and college access. In Symposium on the consequences of merit-based student aid. Madison: University of Wisconsin https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.544.2863&rep=rep1&type=pdf
12. Up-Front Grants: An Efficient Choice for Students and Families https://www.su.ualberta.ca/media/uploads/1143/UpFrontGrants.pdf



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