Are you an aspiring college applicant who is fresh out of high school? Or perhaps, you took up a job at a young age and wish to learn and add new skills to your repertoire by pursuing a new degree? If either of these scenarios sound familiar to you, then you know that getting into a premier institute for post-secondary education is no joke. As financially daunting as it might seem at the outset, there are multitudes of federal and provincial funding options to guide you back to the classroom.
The province of New Brunswick, in particular, is more than happy to assist its residents with their college education by providing various loans, grants and bursaries. Getting monetary help for pursuing your academic dream is a hassle-free process, with options like New Brunswick Loans and Grants and New Brunswick Bursaries. Now, we will venture into the finer details of these student aid programs down below.
The province of New Brunswick, with contributions from the federal government, has created an integrated system for student loans and grants for those in need of financial help. With a single application, you can determine your eligibility for a plethora of grants, as well as loans and bursaries provided by both the New Brunswick province and the Canadian government.
Every application is gauged on the basis of the student’s annual income, which also includes their family’s monetary standing, and their financial needs for covering tuition fees as well as living expenses. Evidently, the applicant must be a resident of the province. It must also be noted that grants will be non-repayable, whereas loans will need to be repaid.
Apart from grants and loans, New Brunswick has excellent bursary programs in place to aid aspiring students in realizing their dreams of achieving affordable post-secondary education. Here we will discuss two major bursaries which are The Renewed Tuition Bursary Program (RTB), and The New Brunswick Bursary (NBB), each with their own merits and criteria.
Any student who has applied for colleges or universities in New Brunswick can opt for this bursary if their income or their family’s income falls within the threshold set up by the provincial government. Other rules apply for eligibility but they’re mostly standardized rules that are applicable to all such funding.
Please note that the maximum amount offered is $ 3000 per academic year for university students and $ 1500 per academic year for college students respectively. Moreover, this bursary is offered not just to students enrolled in degree programs but also to those registered for post-secondary diploma and certification courses.
The NBB can be considered as an additional bursary of sorts, for it is applicable only in situations where the maximum loan limit is unable to cover the applicant’s financial needs.
A student enrolled in an undergraduate, diploma, or certification course can get up to $ 130 per academic week if they are eligible for NBB. Also, applicants must be pursuing their post-secondary education in a university or college in New Brunswick to avail these benefits, while adhering to other eligibility criteria that apply to this grant.
On the off chance that the various loans, grants and bursaries provided by the New Brunswick province are not enough to pay for your academic needs, there are a plethora of federal funding options at your disposal. Take your pick from a variety of federal aid programs such as Federal Student Loan, Federal Student Grant, Federal Student Scholarship and Federal Student Bursaries
Thanks to a variety of grants, loans, and other financial aid programs offered by the New Brunswick government, a multitude of aspiring students have realized their academic dreams, and you too can join their ranks.