View the official press release here!
On Tuesday, March 21, the provincial government tabled its 2023-2024 provincial budget, which includes a $7.6 million increase to loan and bursary programs covered by the New Brunswick Student Financial Assistance (NBSFA) Program.
The UNBSU applauds efforts of the provincial government to recognize the importance of student populations as drivers of the province’s future and economic growth through investments in students.
“Increases to up-front, needs based funding is clearly the best route for supporting students, as it will help ensure students can not only pay their tuition, but also their rent, groceries, textbook costs, and more so we applaud any investments in the New Brunswick Student Financial Assistance Program that will make life and post-secondary education more affordable and attainable for students,” said President Kordell Walsh.
The UNBSU was also thrilled to see another one of our advocacy priorities be reflected in the provincial budget through a $1.7 million pot of funding allocated towards the delivery of culturally relevant addiction and mental health services for Indigenous communities.
“We applaud the $7.6 million increase to loan and bursary programs. This is not only an investment into the students of today, but into the future of New Brunswick as a whole. This measure will allow more students to participate in post-secondary education, promoting a more higher skilled workforce into the future. Further, I was happy to see the investment in culturally relevant addiction and mental health services for Indigenous communities, which will provide meaningful support services to those who often face barriers in accessing healthcare services,” said Vice President Research and Policy Rose Grant.
Other key investments relevant to students include:
Up to $8.4 million in operational funding for public universities
$800,000 to expand community supports for victims of sexual violence
$2.1 million invested in the Canada Housing Benefit, which many students may be eligible to apply for
Although the UNBSU applauds initial investments made within the provincial budget, the UNBSU will continue to advocate for further funding for students. Some specific initiatives we believe would be of great benefit to students include further funding for work-integrated learning opportunities, supporting our institutions address a growing deferred maintenance problem, and adjusting the NBSFA program to ensure grant maximums under the Renewed Tuition Bursary continue to rise and are able to benefit more New Brunswick students.
Students in New Brunswick continue to graduate with the highest debt amounts in Canada, therefore continued advocacy to ensure New Brunswick graduates are able to afford to remain in the province will continue to be a top priority moving forward. With retention remaining a top priority for the provincial government, minimizing debt loads for graduates and increasing grant amounts will remain a priority.
As the UNBSU begins preparing for advocacy over the coming year, we encourage all students to engage in our policy development processes and help guide our advocacy priorities for the year ahead - with our next event being Pizza and Policy with VP Research and Policy Rose Grant on March 27, 2023 from 2-4PM in room 103 of the Student Union Building.