The Government of Alberta has officially announced its new budget. The plan aims to pull Alberta out of debt and balance the province’s budget in four years, by 2023. In order to reduce government spending, there have been several significant budget cuts. The update will bring changes in many areas including corporate taxes, healthcare, and education. In regards to the impact on education, cuts are being made across the board, from kindergarten to post-secondary. Alberta post-secondary budget cuts will impact both students and graduates of Alberta colleges and universities. More specifically, it will impact their bank accounts.\nIt's certainly no secret that students are notoriously broke. From tuition costs and textbooks to rent and, you know, beer, there's a lot of expenses young academics need to take care of. If you're a post-secondary student, a graduate, or someone who's planning on pursuing further education in the future, you should be aware of how Alberta's new budget may affect you.\nAccording to the Complete Financial Plan on the Government of Alberta’s website, post-secondary tuition will be subject to up to a seven percent increase each year over the course of the next three years. Within the next three years, tuition costs can increase by up to 21%.\nView this post on Instagram Thanks to Finance Minister Travis Toews and our entire #UCP team for your hard work on this budget. This is a responsible, focused plan that delivers on the promises we made to Albertans. A post shared by Jason Kenney (@jkenney) on Oct 24, 2019 at 3:38pm PDT\nIf you've ever been a student trying to make ends meet or a student who takes out loans, you know that a 21% increase is significant. Speaking of student loans, According to CBC News, anyone who has received student loans from the province of Alberta can say goodbye to the tuition tax credit.\nTherefore, you won’t be receiving any return for paying student loans in Alberta. There will also no longer be an education tax credit. On top of that, student loan interest rates will be going up from “prime plus one percent.”\nPost-secondary education took a beating today #albertabudget #ableg— Serge Gingras (@sergetrado) March 8, 2013\nAccording to the Government of Alberta’s website, “Budget 2019 reflects a commitment to responsible fiscal management and a promise to balance the budget in 4 years.” Jason Kenney’s UCP government intends to balance the budget through these adjustments in order to receive Alberta’s current debt of $62.7. It continues to say that the Albertan Government "spent almost $2 billion on interest (debt servicing) last year."\nThe plan places focus on creating jobs for Albertans and “delivering public services and infrastructure to support private sector investment and vibrant society.”\nFord cut both tuition and student aid; net tuition stayed steady. The new #albertabudget has set tuition to grow by up to 21% over the next three years, but cut financial aid with a lag time of one year. Literally worse than Doug Ford. How does THAT happen?#ableg— Jon Olfert (@jonathanolfert) October 25, 2019\nIf you're a broke student in Alberta, you may want to take a long, hard look at your personal budget and account for these changes.\nThere are stories everywhere. If you spot a newsworthy event in your city, send us a message, photo, or video @NarcityCanada on Twitter and Instagram.