When your financial resources limit your ability to further your education, a line of credit will cover your expenses, such as tuition, books or equipment. Payments are interest-only while you are enrolled in school and six months after you are no longer a student. Interest is calculated on the daily closing balance at prime rate +1% and charged to your account at the end of every month.
Variable prime rate +1%. Repayment is interest-only while in school.
Manage your account online with CU@HOME®.
Transactions and balances appear on monthly e-statements.
Apply just once.
Great for budgeting
The credit limit is predetermined. Separate education chequing account. ATM access not available.
Interest is calculated on the daily outstanding balance and paid monthly.
Peace of mind
Life insurance is available.