Why You Should Apply for Student Financial Assistance with GNB
Getting a post-secondary education is one of the most exciting chapters of your life, but the price tag can be intimidating. You are looking at tuition, books, rent, and a mountain of other expenses. It is easy to feel like your dreams are being sidelined by your bank account.
But what if I told you that the Government of New Brunswick (GNB) has a literal “hidden treasure” waiting for you? For any New Brunswick student, applying for student financial assistance isn’t just about getting a loan to pay back later. It is about unlocking free money that you never have to return.
In this guide, you will learn why submitting an application for student financial assistance is your most powerful financial tool. We will cover how you can access grants and bursaries, why you won’t pay a cent in interest, and how your advisor can make the whole process a breeze.
Access Free Money
The biggest misconception about student financial assistance is that it is all debt. That couldn’t be further from the truth. When you submit a single application to GNB, you are automatically assessed for both federal and provincial grants.
What is a Grant?
Unlike a loan, a grant is money given to you that you do not have to pay back. It is essentially a gift from the government to help you succeed.
- Canada Student Grants: These are based on financial need, family situation, or whether you have a permanent disability.
- New Brunswick Bursaries: The province offers specific programs like the New Brunswick Bursary to help low and middle income students keep their debt loads manageable.
Imagine receiving several thousand dollars per year that goes straight toward your tuition without adding to your future debt. That is the power of student financial assistance. Why would you leave that money on the table?
The Interest Free Advantage of GNB Student Financial Assistance
In the world of borrowing money, interest is usually the villain. It is the extra cost that makes a $10,000 loan turn into a $15,000 burden over time.
However, there is incredible news for New Brunswick students. The provincial portion of your student financial assistance is completely interest free. This is a massive financial win. It means every dollar you pay back goes directly toward your principal balance, not into the pockets of a bank.
By choosing GNB student financial assistance over a private bank loan or a high interest credit card, you are saving yourself thousands of dollars in the long run. It is quite literally the cheapest way to finance an education.
No Payments While You Benefit
One of the biggest stressors for students is trying to balance a part time job with a full course load. GNB student financial assistance understands that your primary job right now is to be a student.
When you are approved for student financial assistance:
- Payment Holiday: You are not required to make any payments while you are enrolled in school full time.
- The Six Month Grace Period: Life after graduation can be a bit of a whirlwind. GNB gives you a six month window after you finish your studies before you have to start making your first payment.
This “breathing room” allows you to focus on your exams and land your dream job before you even have to think about repayment.
One Simple Application for Student Financial Assistance
You might think you need to apply to the federal government and the provincial government separately. Thankfully, GNB makes it much simpler.
Through the integrated student financial assistance system, you fill out one single application. This one form connects you to:
- The Government of Canada (Federal funding)
- The Province of New Brunswick (Provincial funding)
This streamlined process ensures you get the maximum amount of student financial assistance you are eligible for without the headache of double the paperwork. You can begin your journey by visiting the NB Student Aid Portal, where you can register for an account and track your application status in real-time.
Get Help with Your Student Financial Assistance Application
Does the thought of government forms make you feel overwhelmed? You don’t have to do this alone. Oulton College has advisors that provide support when navigating this student financial assistance journey.
Advisors are knowledgeable in the GNB process. They can help you:
- Determine which documents you need to gather.
- Explain how your parental or spousal income affects your funding.
- Qualifications for disability funding.
Guide you through the “Request for Review” process if your financial situation changes mid year.
If you are feeling stuck, book an appointment with your admissions advisor, or for enrolled students book an appointment with our financial co-ordinator. Requesting assistance with your student financial assistance application is the smartest move you can make to ensure you don’t miss out on any funding opportunities.
Why Every New Brunswick Student Should Apply
Even if you think your family makes “too much money” or you have some savings tucked away, you should still apply. Many students are surprised to find they qualify for non repayable grants based on factors they hadn’t considered.
Applying for GNB assistance is a safety net. It provides you with a financial cushion, protects you from predatory interest rates, and gives you the peace of mind to focus on what really matters: your education and your future career.
Don’t wait until the week before classes start. Head over to the GNB Student Financial Services website or book an appointment with your campus advisor today. Securing your funding now means a stress free semester later. Your future self will thank you for being so proactive.
Secure Your Funding Today!
Speak with an admissions advisor and explore how your career goals may align with student financial assistance opportunities.
Frequently asked questions:
Who is eligible for GNB student financial assistance?
Eligibility for student financial assistance is based on residency in New Brunswick, financial need, and enrollment in a designated post-secondary program.
Does student financial assistance include money I don't pay back?
Yes. A major part of student financial assistance includes grants and bursaries which are non-repayable, provided you complete your studies.
When should I apply for student financial assistance?
You should apply for student financial assistance as soon as applications open for your academic year, typically in the spring or early summer, to ensure funding is ready for your start date.
*Please note that information may be subject to modifications. We encourage current and prospective students to visit the websites in order to obtain the most recent information.
