Canada Student Loan and New Brunswick Student Loan
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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.
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