Canada Student Loan and New Brunswick Student Loan
Student financial assistance from the Government of Canada and the Government of New Brunswick is designed to help eligible New Brunswick residents access post-secondary educational opportunities and to encourage them to complete their education in a timely and successful manner.
All federal and provincial student loan, grant and bursary programs for New Brunswick post-secondary students are administered by Student Financial Services.
Information regarding financial assistance for part-time students can be obtained on the CanLearn Web site at www.canlearn.ca, from the Canada Student Loans Program Guide for Part-time Studies, or by calling Student Financial Services.
To be eligible for full-time federal and provincial student financial assistance, you must meet all of the following conditions:
. You must be a Canadian citizen or a permanent resident of Canada, or be designated as a protected person within the meaning of subsection 95(2) of the Immigration and Refugee Protection Act;
. You must be a resident of New Brunswick (see Section 3 of the application form);
. You must demonstrate financial need (see “How Your Need Is Calculated”);
. You must be enrolled in, and maintain, a minimum of 60 per cent of a full-time course load (students with a permanent disability must enrol in at least 40 per cent of a full-time course load);
. You must be enrolled in a degree, diploma or certificate program of a duration of at least 12 weeks at a designated post-secondary educational institution;
. You must maintain a Satisfactory Scholastic Standard;
. You must be within the Periods of Studies Plus 1 Limit and the Lifetime Limit;
. Your previous Canada or New Brunswick Student Loans must be in good standing or have been repaid; and
. You must pass the federal and provincial credit checks if you are a first-time applicant 22 years of age or older.
The Government of Canada provides 60 per cent of your assessed need in the form of Canada Student Loan funding, up to a maximum of $210 per week of study. The Government of New Brunswick provides 40 per cent of your assessed need in the form of New Brunswick Student Loan funding, up to $140 per week of study. This funding is issued on one integrated Certificate of Eligibility and Canada Student Loan and New Brunswick Student Loan Agreement (commonly known as “Certificate of Eligibility”).
With one New Brunswick Student Financial Assistance Application for Full-time Study 2009-2010, you will be considered for all of the following government-subsidized loans and non-repayable grants/bursaries:
-Canada Student Loan and New Brunswick Student Loan
-Canada Student Grant for Persons from Low-Income Families
-Canada Student Grant for Persons with Dependants:
-Canada Student Grant for Persons from Middle-Income Families
-Canada Student Grant for Persons with Permanent Disabilities: Formerly named the Canada Access Grant for Students with Permanent Disabilities.
-New Brunswick Bursary
-Transition Grant: The new federal transition grant will be available to eligible recipients of the Canada Millennium Scholarship Foundation (CMSF) Millennium Bursary following the sunset of the CMSF in 2009.