Orientation guide for newcomers to New Brunswick - Government of ...

Student loansPaying for your education may be verydifficult. Even working part-time and gettingscholarships are often not enough. So, thegovernment offers loans to help people payfor their education.• these loans are easy to apply for eitheronline or by mail;• the interest charged is tax deductible (thismeans when you do your taxes you canreduce your income by the amount youpaid in interest);• amounts of student loans are based onwhat you need and the situation you are in;• you do not have to pay and no interestis charged until you are finished youreducation, even if it takes several years;• to qualify for the Government of Canadaportion of the student loan (60 per cent),you must have your permanent residencestatus or have a Protected Person 12 StatusDocument (PPSD) and be accepted into apost- secondary program; and• to qualify for the New Brunswick portion ofthe loan (40 per cent), you must have livedin New Brunswick for 12 months in a row.For information on loans:• www.canlearn.caTo apply for student loans and otherstudent assistance:• toll-free, 1-800-667-5626• www.studentaid.gnb.ca$4,000 benefit for first-timeuniversity studentsAll students enrolled for the first timeat a provincially-funded New Brunswickuniversity are eligible for a one-time benefitof $4,000. To be eligible, a student must bea New Brunswick resident. Students mustbe enrolled in an undergraduate degreegrantingprogram at the University of NewBrunswick, Saint Thomas University, MountAllison University, or the Université deMoncton (all campuses).New Brunswick TuitionRebate ProgramYou may be eligible for a rebate of yourtuition, even if you are not a New Brunswickresident. Anyone, from anywhere in theworld, (as of 2005) who pays tuition,graduates from an eligible post-secondaryinstitution, and stays in New Brunswick tolive and work may be eligible. The rebateis non-taxable. It is 50 per cent of tuitioncosts up to a maximum lifetime rebate of$20,000. For details on this New BrunswickDepartment of Finance program visitwww.gnb.ca keyword: FinanceRepayment Assistance Plan (RAP)The Repayment Assistance Plan (RAP)helps graduates with a high student debtwho complete their program of study at apublicly funded post-secondary educationalinstitution, within the program’s establishedtimeline. Through this initiative, up to 100per cent of an eligible student’s provincialstudent loan in excess of $26,000 will beforgiven for a first undergraduate degree,certificate, or diploma earned afterApril 1, 2009.12-Protected person: This is a person selected by theImmigration and Refugee Board and Citizenship andImmigration Canada who has reason to fear persecution inhis/her country of origin due to race, religion, nationality,membership in a social group, or political opinion.Orientation guide for newcomers to New Brunswick77