Student Financial Aid in New Brunswick: Loans, Grants and How to Apply

One application, two governments

New Brunswick residents apply for student aid through a single online application that assesses eligibility for both the provincial student aid program and the federal Canada Student Financial Assistance Program (Canada Student Loans and Canada Student Grants) at the same time. You do not file two separate applications. The province's system forwards your assessed need to the federal program, and your award arrives as a combination of provincial and federal loan and grant funding.

This matches how most provinces outside Quebec, Nunavut and the Northwest Territories run student aid: one provincial application acts as the front door for federal assistance too. The Canada Student Financial Assistance Program sets the federal rules that apply across every participating province, while New Brunswick administers the combined application and its own provincial portion.

What the assessment looks at

Your aid assessment weighs several factors together:

• Your own income from the past year, including summer and part-time work

• Your parents' income if you are considered a dependent student, or your spouse's income if you are married or common-law

• Assets such as savings, and in some cases a vehicle or property beyond a set exemption

• Your program's tuition, mandatory fees and an allowance for books, supplies and living costs

• Your study period length, since a shorter program or a reduced course load changes your assessed need

The assessment calculates your need as the gap between your program's cost and your expected family contribution, then fills that gap with a mix of loan and non-repayable grant funding, with the grant share weighted toward students from lower-income families.

Loan versus grant

Every aid package splits into two parts. The loan portion is money you borrow and repay after you finish or leave your program. The grant portion is money you keep with no repayment obligation, awarded based on your assessed financial need and, in some cases, your family status or a documented disability.

New Brunswick students can also apply for aid as part-time students, under a separate part-time aid stream with its own rules, generally covering students enrolled in less than a full course load per term.

How to apply

1. Confirm you meet New Brunswick's residency requirement for student aid, based on where you lived before starting your program, not where your school is located.

2. Gather your income information, your parents' or spouse's income information where it applies, and your program's confirmed tuition and fee costs.

3. Complete the online application through New Brunswick's student financial services system before your program starts, since processing takes time and your funding needs to arrive before tuition is due.

4. Submit your enrolment confirmation once your school reports you as registered, which releases your funding for disbursement.

5. Reapply every academic year. Your assessment does not carry over automatically, since your income, program cost and family situation can all change from one year to the next.

If your financial situation changes partway through the school year, such as a parent losing income or an unexpected expense, contact New Brunswick's student financial services office directly. Some circumstances qualify for a reassessment mid-year rather than waiting for your next annual application.

Repayment

Repayment does not start the day you finish your program. Both the federal and provincial loan portions carry a non-repayment period after you graduate or leave school, during which no payments are due.

The federal portion carries a permanent 0% interest rate (in effect since April 1, 2023), regardless of whether you're in the non-repayment period or in active repayment. New Brunswick's provincial loan portion may still charge interest, so confirm the current provincial rate directly with New Brunswick Student Financial Services.

Once the non-repayment period ends, you enter repayment, with a Repayment Assistance Plan available if your income is too low to manage the standard payment schedule. Contact the National Student Loans Service Centre directly once you are close to finishing your program, to set up your repayment plan and check whether you qualify for assistance.

Provincial bursaries and other aid on top

New Brunswick also runs bursary and grant programs aimed at specific student groups, such as students with disabilities, students from under-represented communities, or those enrolled in high-need programs. These layer on top of your standard loan and grant assessment rather than replacing it. Check the full current list directly on New Brunswick's student financial services page, since eligibility rules and amounts differ program to program and change from year to year.

Combine government aid with funding your institution controls directly. Most New Brunswick universities and colleges run their own scholarship and bursary programs, awarded separately from the government assessment, along with work-study placements that let you earn income on campus during the school year. Apply to your institution's financial aid or awards office for these in addition to, not instead of, the government application.

Numbers change every year

Grant maximums, loan limits and the income thresholds used in the assessment formula change with each academic year's budget.

Confirm the current New Brunswick and federal figures directly through the official student aid application system before you build a budget around any specific dollar amount, since a figure from a previous year will not match what you actually receive.