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.
You can get information about financial assistance for both full-time and part-time studies at www.canada.ca/student-financial-assistance or by calling Student Financial Services, the branch responsible for the administration of student financial assistance in New Brunswick.
You are eligible for student financial assistance if you:
• are a Canadian citizen, have permanent resident status, or are considered to be a protected person as defined in the Immigration and Refugee Protection Act, or if you are registered with the federal government under the Indian Act, regardless of your citizenship;
• are a resident of New Brunswick;
• demonstrate a financial need;
• are enrolled in, and maintain, a minimum of 60% of a full-time course load (students with a permanent disability may enrol in at least 40% of a full-time course load) to get a full-time loan, and between 20% and 59% to get a part-time loan (between 20% and 39% for students with a permanent disability). Students with a permanent disability taking between 40% and 59% of a full-time course load can elect to be in full-time or part-time status;
• are enrolled in a degree, diploma or certificate program that is at least 12 weeks in duration at a designated post-secondary educational institution;
• maintain a satisfactory scholastic standard;
• are not delinquent or in default on a previous student loan;
• pass a credit check (this applies to students who are 22 years of age or older who have never received a federal and/or provincial student loan);
• are not beyond your program length, plus one additional study period (called your Periods of Study + 1 limit); and
• are not beyond 340 weeks of eligible assistance (called your lifetime assistance limit). This is 400 weeks for students in doctoral studies, or 520 weeks for students with permanent disabilities.
The Government of Canada provides Canada Student Loan funding up to a maximum of $350* per week of study. The Government of New Brunswick provides New Brunswick Student Loan funding up to $140 per week of study.
* The maximum weekly amount for Canada Student Loan funding has been increased as a temporary measure in response to the COVID-19 pandemic.