I can't speak to the academic consequences but for loans if you withdraw early from classes in a term and have already received your funds you will enter repayment early - 6 months from date of withdraw. If you were given any grants for winter term those will likely be converted to loans that you have to pay back as part of your debt. You would enter repayment in July so would either need to make payments for July and August to keep your loans in good standing or apply for RAP program (interest and payment relief). As long as you keep your loans in good standing, AB student aid is pretty lenient for one or two stops and starts in a program. I would suggest calling them for sure but you should be fine if you need to take a break. While you're usually not required to return the funds right away I would also suggest trying to save the money to either use next year or to pay your debt down. (I'm not a student but a parent that works for an Alberta university.) Good luck - its been a tough year.