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STUDENT LINE OF CREDIT

Say hello to an A+ student life.

Focus on your finals, not your finances. With the Laurentian Bank line of credit, you only need to worry about interest payments while you’re in school.

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Why use a student line of credit?

For starters, because it’s designed for the student budget. While you’re a student, you only pay the monthly interest. That means you don’t have to pay back the principal while you’re in school.

Plus, it’s for all types of students. Whether you’re enrolled in a post-secondary training program offered by a recognized educational institution (CEGEP or university), or enrolled in a specialized training program offered by a private institution, the student line of credit has you covered.

How it works.1

Start with $1,500.

  • Minimum amount: $1,500.

  • Maximum amount:

    • CEGEP and undergraduate students: $5,500 per year up to $20,000 for 4 years.

    • Graduate students: $30,000 for 5 years.

    • Specialized programs: $20,000 for overall studies.

Variable interest rate.

  • The rate changes according to the Laurentian Bank line of credit base rate. View current rates.

  • Interest applies only to the funds used.

Access to funds.

Access your funds any time:

  • by cheque2

  • at an ATM3,4

  • online through LBCDirect

Easy repayments.

While you’re a student:

  • Only pay the monthly interest.

When you’re no longer a student:

  • Only pay the monthly interest for a grace period up to 12 months.

  • Afterwards, you’ll have the option to convert the line of credit into a personal loan with a fixed or variable interest rate.

  • You’ll have up to 7 years to repay the principal and interest.

Helpful tips and resources.

Your questions answered.

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