Student Advantage Line of Credit

Quick facts

• Main feature: line of credit for students
• Credit limit: contact an advisor at a caisse
• Interest rate: 3.75% 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.

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

	Online (Members)	Fill out the form
	From a youth clientele representative	Make an appointment with a youth clientele representative. Find contact information for the youth clientele representative at your university.
	At the caisse	Make an appointment with a caisse advisor: online by phone
		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.