Tuition freeze, student debt reduction outlined in NB budget

March 17, 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