NB reports on use of Timely Completion Benefit

March 19, 2010

Over 520 graduates have taken advantage of the $5.8-million New Brunswick Timely Completion Benefit program in the first fiscal year it has been available, according to figures reported Friday by the province's PSE minister. Under the program, the province will forgive an eligible student's debt if it exceeds $26,000, as long as the student completes his or her post-secondary program within the established timeline. The minister says this measure alone will bring the average debt load of students closer to the Canadian average of $24,000. Graduates who have taken advantage of this benefit have reduced their debt load on average by over $11,000. Students have criticized the debt relief program for its time clause. NB News Release