Tuition freeze, student debt reduction outlined in NB budget

News Date: 
Mar 18, 2009
The New Brunswick government's latest budget, announced yesterday, commits to a university tuition freeze for a second consecutive year. The province has earmarked $20 million for Phase 4 of the University Infrastructure Trust Fund. Through the Debt Reduction for Timely Completion Benefit, up to 100% of an eligible student's provincial student loan exceeding $26,000 will be forgiven for a first undergraduate degree, certificate, or diploma earned after April 1 of this year. The budget also allocates funding for another 500 community college spaces, further investments in apprenticeship training, and $6 million towards implementing NB's action plan on PSE. NB News Release

Debt load 10 years after graduating

Submitted by Terry (not verified) on Thu, 2009-03-26 21:50.
Imagine that, a Debt Reduction for Timely Completion Benefit. The caveat, as always, no relief in sight for those of us who have huge student loans 10 years after graduation. Why are any reforms (if they are actually implemented) only targeted to recent graduates? Who determines need? When is the federal government going to understand that any economy is based on consumers - how can I contribute to the economy? I certainly do not own a home, nor a car. But, will wonders never cease? The auto sector, and those who wish to renovate their homes get assistance in one form or another. But the catch 22? I and many of my fellow graduates will not be buying or renovating. For many years to come. Why is there interest on students loans anyway? Who is benefitting? And at what cost education?