Canada Student Loan and New Brunswick Student Loan

Canada Student Loan and New Brunswick Student Loan

Canada Student Loan

Insight

Student financial assistance provided by the governments of Canada and New Brunswick is intended to help eligible residents of the province access post-secondary education and successfully complete their studies as quickly as possible.

All federal and provincial loans, bursaries and bursaries programs for New Brunswick post-secondary students are administered by Student Financial Services.

You can get information about financial assistance for part-time and full-time studies at www. canada. ca/student-financial-assistance or by contacting Student Financial Services.

Eligibility

You are eligible for student financial assistance if:

• You are a Canadian citizen, a permanent resident or a person considered a protected person under the Immigration and Refugee Protection Act, or if you are a registered person with the federal government under the Indian Act, regardless of your citizenship;

• You are a resident of New Brunswick;

• You demonstrate financial need;

• You are enrolled in at least 60% of a full course load and maintain that course load (students with permanent disabilities must be enrolled in at least 40% of a full course load), with respect to apply for a loan for full-time studies. You are enrolled in a course load between 20% and 59% for a loan application for part-time studies (or a course load between 20% and 39% for students who have a permanent disability). Students with a permanent disability who are enrolled in a course load between 40% and 59% can choose full-time or part-time studies;

• You are enrolled in a program of a minimum duration of twelve weeks at an accredited post-secondary institution for the purpose of obtaining a degree, diploma or certificate;

• You maintain satisfactory academic performance;

• You are not in default of payment for a student loan already granted;

• Your credit score is favorable (this applies to students aged 22 and over who have never received a federal or provincial student loan);

• You have not exceeded the duration of your program plus one additional year (referred to as the normal period of study plus one additional year);

• You have not accumulated more than 340 weeks of eligible financial assistance (referred to as the maximum lifetime assistance limit); this period is 400 weeks for doctoral students, or 520 weeks for students with permanent disabilities.

Description

The Government of Canada provides an amount of up to $210 per week of study. The Government of New Brunswick provides an amount of up to $140 per week of study.