Line of Credit for Students
Need Help?
If you are experiencing financial difficulty or difficult personal circumstances, find out how we can help. Please Feel Free To Contact Us.
Hi
INSURANCE PROTECTION
Line of Credit for Students
Line of Credit
Right For You If:
♥ You want more control over your borrowing by leveraging the equity in your home
♥ You want to take advantage of various product options
Deferred principal payments:
Make interest-only payments while you’re still in school.
Control how much you use:
No interest if there is no balance on your line of credit.
Eligibility:
You must be enrolled in a certificate, apprenticeship, degree or diploma program. International students enrolled in a Graduate program can apply with a co-borrower who is a citizen/permanent Canadian resident.
PLUS:
Enjoy a 12-month grace period after graduation on repayment of the principal amount borrowed.
Good way to establish a credit record – remember to make regular payments on time.
We can mean providing the financial support that you may need during a difficult time.
Fees & Options
Control how much you use
| Certificate or Apprenticeship Programs less than one year | €1,000 | €20,000 | €20,000 |
| Certificate or Apprenticeship Programs more than one year | €1,000 | Approved credit limit divided by the # of years of program | €20,000 |
| Undergraduate/Diploma | €1000 | €15,000 | €40,000 |
| Certificate or Apprenticeship Program | €1000 | Approved credit limit divided by the # of years of program | €10,000 |
| Undergraduate/Diploma | €1000 | €7,500 | €20,000 |
| Full/Part-time Program less than 18 months | €1000 | €100,000 | €100,000 |
| Full/Part-time Program greater than 18 months | €1000 | Approved credit limit divided by the # of years of the program | €100,000 |
Subject to credit approval, your credit limit will be increased in each year of your program by as much as the “Maximum credit limit per year” amount. However, your total credit limit can never exceed the “Maximum credit limit” amount for your program.
Now that you’ve decided on your school and program, you’re probably a little intimidated by tuition, fees and living expenses. Knowing what your expenses are is the first step to creating a plan to finance your education.
Determine exactly what your education is going to cost you with our Student Budget Calculator so you can make informed financial decisions.
