NB raises cap on student debt forgiveness program

June 25, 2015

New Brunswick has raised the ceiling on its Timely Completion Benefit (TCB) program, a change that will add $6,000 to some students’ debts. Previously, students who completed their programs within a specific timeframe could apply to have any loans over $26,000 forgiven by the province; this threshold has been raised to $32,000. Noting that postsecondary students in NB already face “tremendous challenges,” Lindsay Handren, Executive Director of the New Brunswick Student Alliance (NBSA), said, “the decision to increase the debt cap for the Timely Completion Benefit will place added strain on hundreds of those individuals.” According to the NBSA, NB students graduating with debt already owe more than students from any other province. CBC | NBSA Release