N.B. renews Tuition Bursary program, plans to reintroduce tuition tax credit
The New Brunswick government is trying to make getting a post secondary education easier on the pocket book.
The province unveiled measures Tuesday to support students including a Renewed Tuition Bursary program and the planned reintroduction of a tuition tax credit.
The bursary program will be an extended version of the two previous tuition bursary programs, opening eligibility to students enrolled in the province's private colleges and universities.
The tuition tax credit meanwhile, will recognize the investment made in post-secondary education and will complement other student financial support and workforce programs.
The province says once the changes to the Income Tax Act are passed, individuals will be able to claim the credit when they file their tax return in 2020.
The Timely Completion Benefit is being discontinued, however those who graduated on or before March 31st, 2019 are still eligible to apply.
Education Minister Trevor Holder says the province is levelling the playing field by extending the the bursary program, thereby ensuring funding follows students regardless of what post-secondary education choices they make.