The Alberta government will provide immediate financial relief to Alberta’s families and vulnerable populations.
Over $7.7 billion has been committed so far, including:
- $500 million for our health system
- $60 million for community organizations, including emergency and homeless shelters
- $50 million for emergency isolation support
- $3.6 billion to date in total loans to consumers and businesses that qualified for deferrals through the ATB Financial customer relief program
- $45 million to waive interest on student loans
Emergency isolation support
- Eligible working Albertans can receive a one-time emergency isolation support payment of $1,146 if they:
- experienced total or significant loss of income as a result of having to self-isolate, or are the sole caregiver of a dependent who is self-isolating, and
- have no other source of compensation, such as workplace sick leave benefits or federal employment insurance benefits
Utility payment deferral
- Residential customers can defer electricity and natural gas bill payments for the next 90 days to ensure no one will be cut off, regardless of the service provider.
- This program is available to Albertans who are experiencing financial hardship as a direct result of COVID-19. For example, those who have lost their employment or had to leave work to take care of an ill family member.
- Call your utility provider directly to arrange for a 90-day deferral on all payments.
Learn more about the 90-day utility payment deferral
Student loans repayment deferral
We are implementing a six-month, interest free moratorium on Alberta student loan payments for all Albertans in the process of repaying these loans.
- Alberta Student Loan repayments will be paused for 6 months, beginning March 30, 2020.
- Interest will not accrue during this period. This mirrors the approach of the Canada Student Loans Program.
- Students do not need to apply for the repayment pause.
- Borrowers may continue making payments during this period if they choose and this will not affect their eligibility to receive the benefit.
Banks and credit unions
ATB Financial customers
- Personal banking customers can apply for a deferral on their ATB loans, lines of credit and mortgages for up to 6 months.
Alberta credit unions
- Credit union members will have access to a variety of programs and solutions designed to ease difficulties with loan payments and short-term cash flow.
- Contact your credit union to work out a plan for your personal situation
Education property tax freeze
- Residential education property tax rates will be frozen at last year’s level – reversing the 3.4% population and inflation increase added in Budget 2020.
- This will save households $55 million.
Federal government programs
Albertans may also be eligible for financial supports through the federal government:
- Provides up to 15 weeks of income replacement for eligible Albertans who are unable to work due to illness, injury or quarantine (self-isolation).
- One-week waiting period is waived for people in self-isolation.
Canada Emergency Response Benefit (CERB) (launching April 2020)
- Provides $2,000 a month for up to 4 months to workers without paid sick leave (or similar workplace accommodation) who are unable to work, sick, quarantined or forced to stay home to care for children.
- Eligible parents will receive $300 more per child with their regular May CCB payment.
- Provides low- and modest-income Albertans with a one-time special payment in May of up to $400 for single people and $600 for couples.
- The required minimum withdrawal from Registered Retirement Income Funds (RRIFs) will be reduced by 25% in 2020 in recognition of the impact of volatile market conditions on many seniors’ retirement savings.
- Protecting Alberta's families and economies (March 18, 2020)