Types of Funding

Types of Repayable Funding:

• Because student loans are designed to cover basic needs, you may find that your loan does not cover all of your expenses. Maximums are set because you, as a student (and your parents or spouse if applicable), are expected to contribute to your education.
• The maximum for Canada Student loans is $210 per week and the maximum for New Brunswick Student loans is $140 per week, for a total of $350 per week and $11, 900 for the school year.
• 'Allowable' costs include tuition and school fees, books and supply costs, living expenses, transportation, childcare and daycare allowances (if applicable).
• Your resources are also taken into account when your loan application is assessed, and may include earnings from full-time employment before you started school (i.e.: summer job), part-time earnings during the school year and the earnings of your parent(s) or spouse (if applicable).

Types of Non-Repayable Funding:

The following types of non-repayable assistance (bursaries and grants) are assessed automatically through your student loan application:

Grant for Students with Permanent Disabilities
$2000/year

Grant for Services and Equipment for Students with Permanent Disabilities
Up to $8000

Grant for Students from Low Income Families $250/month

Grant for Students from Middle Income Families
$100/month

Grant for Students with Dependents
$200/month per child

Transition Grant
$3000

New Brunswick Bursary for Full-Time Students
$3060 maximum

Note 1: The assistance programs listed above reduce the amount of loan funding issued.

Note 2: The Canadian Millennium Scholarship Foundation (CMSF) and all of its associated grants has run out as of April 2009. The new federal Transition Grant have been put in place to deliver continued funding to previous Canada Millennium Scholarship Foundation General Bursary (CMB) recipients for the remainder of their post-secondary program.