Student Choice® Package
Frequently Asked Questions
How do I apply for the Student Choice® Package?
Applying is easy. Visit any Westoba branch or call TeleService at 1-877-WESTOBA.
Our Member Solutions Team is happy to answer your questions and help you get set up. Book a meeting to discuss your needs and put together a Student Choice® Package that works for you.
What’s included in my Student Choice® Package?
Everything you need! You can pick from our list of options to build a package that meets your financial needs, including:
- An interest-bearing chequing account
- Overdraft protection (on approval)
- MemberCard debit card
- Personalized cheques
- A flexible loan plan or line of credit
- Student MasterCard® Credit Card (on approval)
How much can I borrow?
You can borrow up to a maximum of $50,000 through your Student Choice® Package. We’ll help you figure out what you’ll need to get through school. We’ll work with you to design a plan that ensures your money lasts the entire school year, including covering costs like:
- Equipment (laptop, printer, etc.)
- Living expenses
If you’re working while going to school and just need a little extra to get by, Westoba offers $500 student lines of credit to give you peace of mind. Draw on your line of credit when you need it and pay interest only on the amount of money you use each month. As you repay the money you’ve borrowed, it becomes available again for your use.
What are the repayment terms?
While you’re attending school full-time, you pay interest only. Once you finish school or stop full-time studies, you have a 12-month grace period. After that, we’ll help you set up a repayment plan. Loan payments can be spread over a maximum of 10 years.
There are no penalties for paying your loan off early.