To be fair, ToNB is (probably) historically better attended. ToNB just ran a 1-day sale about 2 days ago where registration went from 0 to 123 in a single day. And ToNB is a bit later in the year, so more people will think they're ready.
That said - I'll be at both events this year.
tx_newbie, if you are dedicated, you can search back to the race reports from last year (Jan 28th ish is when they were posted). and read what everyone had to say about tour of NB. I don't remember any reports from Alsation.
TNB has a "crit-like" circuit race. short course, some elevation change, but overall pretty fast. Then a long, turny road race - it'll pay to be in the top 20ish to avoid the elastic through the many turns. Also, the course is relatively exposed, so if there's a strong crosswind you might get guttered. Any other questions, just PM me.a
Alsation has a 1 mile crit, then a 2.5 mile circuit race that they call a road race. Those are the only details I know.
Tx_newbie, if you want to do more racing, contact the promoter and see if they need any volunteers and ask if you can trade 3-4 hrs of volunteer work for the entry fee. Explain you're a poor college student, etc, etc...