Student Choice Line of Credit
Building Community. One Student at a time.
For times when you need a little extra to get by. Available to full and part-time postsecondary students up to 30 years old, our Student Choice line of credit makes $500 available whenever you need it. Draw on your line of credit to help pay tuition, buy books or cover living expenses.
Pay interest only on the amount you use. Repay the money you borrow and it’s automatically available again when you need it. Access your money using your debit card or a cheque.
- Overdraft protection
- Interest calculated only on the negative daily balance in your chequing account and charged monthly
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.