New Brunswick Student Loans

There are sources of funding that you need to be aware of, starting with NB student loans (New Brunswick student loans) that are available through the Canadian federal government, and the government of New Brunswick if you are a resident of New Brunswick in Canada, and you are looking for ways to pay for your college education.

As a resident of New Brunswick, you can apply for federal and provincial student aid using one application. That application not only covers NB student loans, but also grants and bursaries that are available from the federal government and the New Brunswick government. The only financial aid that you cannot apply for using one application is aid to cover the cost of special equipment needed for disabled students. This requires a separate application for the disabled.

In order to be eligible for this NB student loan financial aid, you must be a citizen or permanent resident of Canada, and a resident of New Brunswick. You must demonstrate financial need, as it is calculated by the government. You must be enrolled in at least 60% of a full time course load, and enrolled in a program of study that will result in a degree, diploma, or certificate, and that course of study must last for at least twelve weeks. You must maintain satisfactory grades, and you cannot have defaulted on any previous Canadian student loans.

If you are twenty two years old or older, you must pass federal and provincial credit checks to be approved for student loans in NB, if this is the first time that you are applying for Canadian student loans. Additionally, you cannot be past the length of your program plus one year. For example, if the course of study was designed to be completed in one year, and you are in your third year of school, you will not be eligible for funding through this Canada student loan program. However, if you had to break the course up, and you are starting the second academic year of a program that lasts one year, you are still eligible for NB financial aid.

In terms of NB financial need, you have the option of including your parents or partners income – or not. If you are a dependent student, however, and you do not include this information, you will not be eligible for grants or bursaries, or funds from the federal government. Instead, you will only be eligible for a New Brunswick student loan.

Through the Canada Student Loan program, you can receive up to 60% of the cost of your education, and through the Government of New Brunswick, you can receive up to 40% of the needed funding. This means that you may not require any other sources of funding for your education. When it is time to repay your Canadian student loans, your loans will be managed through the National Student Loans Service Centre. This includes payments for your New Brunswick student loans.

To gather more information about student loans in New Brunswick, or to apply for a loan, visit the New Brunswick Student Financial Services website at: NB student loans. You can also get the information file for student loans in NB at New Brunswick student loans.

Related Reading for Canadian Student Loans

Canadian Student Loans for College Students

BC Student Loans in Canada

NSLSC – National Student Loans Services Centre

OSAP – Ontario Student Assistance Program