Moncton 
New Brunswick students who plan to attend post-secondary education programs, which starts on Aug. 1, 2023, and end on July 31, 2024, can now apply for student financial assistance.
Per the news release, the Department of Post-Secondary Education, Training and Labour has allocated an additional $7.6 million to increase the maximum weekly amounts from $140 to $200 for the loan and from $130 to $160 for the bursary, making it easier for students to apply for funding from provincial and federal governments.
The income threshold for a single borrower was increased from $25,000 to $40,000, and borrowers qualifying for the plan are not required to make payments until their income surpasses $40,000. Thresholds were also raised for borrowers from larger families.
The government of New Brunswick has eliminated interest from the New Brunswick Loan, and interest on the Canada Student Loan has also been eliminated. The Repayment Assistance Plan has been enhanced to provide support to students experiencing difficulties with loan repayment.
The provincial government says students should apply for financial aid as early as possible to ensure that eligible funding is available for the start of the study period.
The online application is available at studentaid.gnb.ca, which has been redesigned to provide students and parents with more information about the support available and the access process.
The New Brunswick Student Financial Services offers virtual Q&A sessions for anyone who wants to learn more about the financial support available for students, and students or parents can register for a session online.
Over 13,000 students received the New Brunswick Loan and over 4,000 received the New Brunswick Bursary last year.
