Student Advantage Line of Credit

Meets your financial needs so you can rest easy during your studies.

This line of credit is reserved for full-time and part-time¹ vocational, college and university students, of any age.

Features

• Can be a financing solution if you do not qualify for government financial aid or if it is not enough to cover your educational costs.
• May be used for:
  • tuition, entrance fees and expenses;
  • work study program charges;
  • books, school supplies, computer² or special training equipment;
  • living (food, housing) and transportation expenses.
• Only one requirement: interest on the amount borrowed must be paid back while you are still a full-time college or university student. Once your studies are completed, the line of credit is converted into a personal loan at the interest rate in effect at that time for this type of loan. The first repayment on the capital can postponed 6 months following your graduation. You can opt for a 10-year term.
• Line of Credit Insurance (life and disability) available.

Advantages

• While you are still in school, you only have to pay the interest on the borrowed principal.
• You can also obtain a line of credit if you are studying part-time. The maximum amount granted is equivalent to 50% of the maximum limit for full-time students².
• Additional financing can be granted for certain programs of study that require major expenses (books, equipment, etc.)

How much can I afford?

The amount available to you varies according to your needs¹. A branch financial advisor will work you to determine the amount of the line of credit you can borrow.

Level of study	Maximum limit
	Annual	Overall
Vocational training (1 year of college in Ontario)	$5,000	$5,000
College (2 or 3 years of study)	$5,000	$15,000
Undergraduate university studies (4 years)	$10,000	$40,000
Graduate university studies (master's or doctorate)(2 years)	$10,000	$20,000

	By phone (Members and non-members)	Call 1-888-283-8333
	At the branch (Members and non-members)	Make an appointment with an advisor at a branch.

1. Subject to approval by the credit department. A principal and interest payment is due for part-time students. Certain conditions apply.
2. Undergraduates in Ontario must have a guarantor.