Educator Student Line of Credit

This loan is for you if:

  • you are a full time student attending post secondary.
  • you need assistance with financing education expenses.
  • you only want to pay interest on the amount outstanding while you are a student.

Loan Features

Educator Student Line of Credit is a flexible and convenient line of credit (and a one-time application) that allows the student to draw on funds as needed, up to a pre-determined limit, to help finance the cost of post-secondary education.

  • One-time application for financing post-secondary education
  • Competitive rate and no fees
  • Low payments of interest only are all that’s required while in school
  • More structured Student Loans are also available if preferred
  • Subject to credit approval with appropriate parental guarantee(s)
  • Students must be 18 years of age to apply (for students under the age of 18, parents must apply on their behalf)
  • Maximum - $25,000.00
  • Maximum advance per year $7,500.00
  • Life, disability and criticall illness insurance available
  • Upon completion of study period arrangements will be made to begin repayment

Additional Information

  • An easy, convenient way to overcome added financial pressures.  An alternative to withdrawing RRSP funds for children’s education so that retirement savings continue to grow and earn interest.
  • No worry for regular payments until the student has finished school.
  • Flexible repayment terms.
  • Peace of mind knowing funds are available to assist with education costs (tuition, books, lodging).
  • Saves money with no additional cost to borrower.

Ready to apply? Applying for credit with us is easy!

Online

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In Person

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By Phone

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*Rate is subject to change without notice and is available O.A.C. Rate is compounded semi-annually. Terms and conditions may apply. Mortgage funds must be advanced within 90 days of the application. This rate is discounted and cannot be combined with any other rate discounts, promotions or offers. Additional fees may apply. For specific Annual Percentage Rate (APR) rates, please contact your branch.