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Student Advantage Line of Credit

Quick facts

Logo - This product is part of the d.plan for Students offer
  • Main feature: line of credit for students
  • Credit limit: contact an advisor at a caisse
  • Interest rate: attractive rate during your studies
  • Payment schedule: pay only the interest during your studies
Get this product 10 reasons to choose Desjardins
 

Who should get this loan?

Students who want to meet their financial needs during their studies, if they do not qualify for government financial aid or if it is not enough to cover their educational costs. This line of credit is reserved for full-time and part-time1 vocational, college, CEGEP and university students, of any age.

Features

Interest rate
  • During your studies: variable rate.
  • After graduation: fixed rate, lower than the rate for a personal loan.
Amount available
  • Credit limit based on your situation and your level of study.
  • If you are studying part-time, the maximum amount granted is equivalent to 50% of the maximum limit for full-time students.
    See How much can I afford?
Repayment
  • While you are still a full-time secondary vocational, vocational, CEGEP or university student, you pay only interest on the borrowed amount.
  • Option to pay interest only on your loan for the first 6 months following your graduation.
  • Loan payment frequency: monthly.
  • No prepayment penalties: Pay off your loan at any time during your studies without being charged extra fees.
Loan term
  • Up to 5 years for vocational school, college and CEGEP students.
  • Up to 10 years of university students.
Possible uses
  • Tuition, entrance fees and expenses.
  • Work study program charges.
  • Books, school supplies, computer2 or special training equipment.
  • Living (food, housing) and transportation expenses.
Other
  • Desjardins and COOPSCO members can take advantage of a special offer.
  • Additional financing can be granted for certain programs of study that require major expenses (books, equipment, etc.).
  • Line of Credit Insurance (life and disability) available.
    See Line of Credit Insurance.
  • Life insurance is required to get a Student Advantage Line of Credit. If you do not have life insurance, you can take out Desjardins Line of Credit Insurance.

Find out more about Line of Credit Insurance.

How much can I afford?

A caisse financial advisor will work with you to determine the amount of the line of credit you can borrow.

Level of study
Maximum annual limit for Quebec students
Maximum annual limit for Ontario students
AEC, DEC or AVS (depending on the number of years)
$3,000
N/A
Vocational training (1 year of college in Ontario)
$3,000
$5,000
College (2 or 3 years of study)
$3,000
$5,000
Undergraduate university studies (4 years)
$10,000
$10,000
Graduate university studies (master's or doctorate)(2 years)
$10,000
$10,000

Calculate

Calculate the credit charges on your Student Advantage Line of Credit

Did you know?

Desjardins can help you make the most of school and finances by allowing you to combine a Student Advantage Line of Credit with a VISA Desjardins FOR STUDENTS ONLY card.

How to get this product
Online Online
Guaranteed 100% Secure
Fill out the form
From a youth clientele representative From a youth clientele representative
Find contact information for the youth clientele representative at your university
At the caisse At the caisse
Make an appointment with a caisse advisor:
Documents to bring to your meeting.

  1. Subject to approval by the credit department. A principal and interest payment is due for part-time students. Certain conditions apply.
  2. A one-time amount of $3,000 may be added for the purchase of a computer.
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Interest rate

Student Advantage Line of Credit
As of February 10, 2012
4.50%

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