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Student Line of Credit

What is a Student Line of Credit?


As a student, you may qualify for a Student Lines of Credit program to make your education more affordable. A student line of credit is a product offered by financial institutions to help students pay for expenses related to their post-secondary education. It can be used to pay for tuition, books, food, transportation, and other expenses.

How does student line of credit work?


The line of credit has a pre-set limit, which can vary depending on the bank, and you can keep borrowing as long as you pay the borrowed amount back. Student lines of credit do charge interest, but the rate you’re charged is typically lower than a standard line of credit.

Here is the list of banks and credit unions that currently offer a Student Lines of Credit program. You may also check with your local bank or credit union to see if they offer a similar student loan program. More information on student credit can be found at your local bank or credit union.

CIBC – Education Line of Credit

Website: www.cibc.com/ca/loans/edu-line-of-credit.html

Bank of Montreal – Student Line of Credit

Website: www.bmo.com

TD Canada Trust – Student Line of Credit

Website: www.tdcanadatrust.com

Scotiabank – Personal Line of Credit for Students

Website: www.scotiabank.com

Royal Bank of Canada – Student Line of Credit

Website: www.rbcroyalbank.com

Desjardins Credit Union – Student Advantage Line of Credit

Website: www.desjardins.com

UNI Financial Cooperation – Student Line of Credit

Website: www.uni.ca