Student Awards


Student Awards

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What is a Student Line of Credit?

A student line of credit is repayable loan assistance from a bank or credit union.

Unlike government student loans, a student line of credit is not based on financial need. To qualify, you usually require a valid Canadian co-signor (e.g. parent or guardian).  Approval is based on the co-signor's credit worthiness.  Students enrolled in professional programs (e.g. Law, Medicine, etc.) may not require a co-signor in recognition of future earning potential (please contact your financial aid institution for further details).  You can apply for a student line of credit at most major Canadian banks. Each will have their own terms and interest fees.

While you are enrolled in full-time studies you are only responsible for repaying the interest on the funding you have borrow. You begin repayment of the principal when you cease full-time studies (either graduate, or withdraw from full-time studies).