Fredericton, NB – In response to the Maritime Provinces Higher Education Commission time-to-degree study released yesterday, students across the province are calling upon the government to expand the Timely Completion Benefit (TCB) to reflect new evidence.
The MPHEC’s study revealed that students take an average of 4.8 years to complete a postsecondary degree, and an average of 5.6 years if they transfer to another university and switch field of study.
“This study confirms what we’ve been saying for a year now: the TCB needs work. The current structure of the TCB program is outdated and now clearly does not reflect the reality of the academic experience of our students,” explained Sam Titus, director on the NBSA’s Board.
The TCB program forgives government student loan debt above $32,000 if students complete their degrees in four (4) years. Previously, the debt-cap had been limited to $26,000.
Robert Burroughs, NBSA executive director, said, “If the government is serious about reducing student loan debt, as they claimed in the economic growth plan, then they have to change the qualifying requirements of the TCB.”
Previous studies conducted by the MPHEC noted that only a third of students in New Brunswick complete their degree in the allotted time.
“The government should change the TCB prerequisite to a five (5) year completion scale and add the option of applying to a sixth year under special conditions. Not only does such a move encourage students to pursue their academic interests, but it would enable the TCB to truly be a progressive and evidence-based policy.