Student Aid

The federal and provincial governments work together to help students pay for post-secondary education. With one application each year, students will be considered for financial assistance, which may include student loans, grants and bursaries from both levels of government. Additional funding may be available for students with disabilities.

Note that student loans must be repaid while grants and bursaries do not.

Funding is available for both full-time and part-time students and is based on several factors, including your family income.

The program can help you pay for:

• tuition and other mandatory fees
• books and supplies (when applicable)
• return transportation
• childcare (if applicable)
• living allowance (full-time students only)
• incidental allowance (part-time students only)
• computer-related costs (full-time students only)

Student aid is designed to be needs-based and to provide support toward the cost of your post-secondary education and living expenses. It is intended to supplement, rather than fully cover, these costs. To help manage your overall expenses, you may wish to explore additional resources, such as:

• employment
• internship or co-op programs offered for your program of study
• bursaries, grants and scholarships
• savings (e.g. Canada Learning Bonds)
• funding from parents and relatives

Once all documents have been submitted, applications are normally processed within two to four weeks and funding reviews are normally processed within four to six weeks.

Once you've submitted all required documents, your application for student aid is usually processed within two to four weeks. You’ll receive a Notice of Assessment showing your funding amount and when you’ll receive it. 

If you're a first-time applicant or returning after a break of two years or more, your Notice of Assessment will also have a 10-digit number needed to complete your student financial assistance agreement. You typically only need to complete the agreement once. Within a few days, you'll receive a welcome email from the National Student Loans Service Centre (NSLSC) with instructions to create an online account and complete your agreement.

After your agreement is completed and your school confirms your enrolment, your funding will be released. A portion may go directly to your school for tuition and fees, and any remaining funds will be deposited into your bank account. You’ll receive a secure message with the payment details. 

If you’re still in school but don’t reapply for funding, you must notify the NSLSC through your online account. If not, you will have to start repaying your loans earlier than expected. It's important to keep your contact information up to date with both the NSLSC and Student Financial Services. While you're in full-time studies, both full-time and part-time loans are normally payment-free, but if you're studying part-time, you will be required to begin repayment on previous full-time loans.

You can access your Notice of Assessment through the NB Student Aid Portal.