ScotiaLine® Personal Line of Credit for Students

Right for you if:

  • You need money to get the education you want
  • You only want to borrow what you need
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  • Deferred principal payments Make interest-only payments while you're still in school.
  • Control how much you use No cost if there is no balance on your line of credit.
  • Eligibility You must be a Canadian citizen or permanent resident enrolled in a certificate, apprenticeship, degree or diploma program at a Canadian or American post-secondary school2.

PLUS:

Enjoy a 12-month grace period after graduation on principal repayment.

Great way to establish a credit record by making regular payments.

Go to www.fundyourfuture.ca to learn more about our bursary program and other information on funding your education.

Fees & Options

Control how much you use


Full-time

Full-time
Minimum credit limit per year Maximum credit limit per year Maximum Credit Limit
Certificate or
Apprenticeship Programs
less than one year
$1,000 $20,000 $20,000
Certificate or
Apprenticship Programs
more than one year
$1,000 Approved credit
limit divided by the
# of years of program
$20,000
Undergraduate/Diploma $1000 $15,000 $40,000

Part-time

Part-time
Minimum credit limit per year Maximum credit limit per year Maximum Credit Limit
Certificate or
Apprenticeship Program
$1000 Approved credit
limit divided by the
# of years of program
$10,000
Undergraduate/Diploma $1000 $7,500 $20,000

Graduate Programs3

Graduate Programs3
Minimum credit limit per year Maximum credit limit per year Maximum Credit Limit
Full/Part-time Program less than 18 months $1000 $100,000 $100,000
Full/Part-time Program greater than 18 months $1000 Approved credit limit divided by the
# of years of the program
$100,000

Subject to credit approval, your credit limit will be increased in each year of your program by as much as the “Maximum credit limit per year” amount. However, your total credit limit can never exceed the “Maximum credit limit” amount for your program.

Tools Take control of your money

Now that you've decided on your school and program, you're probably a little intimidated by tuition, fees and living expenses. Knowing what your expenses are is the first step to creating a plan to finance your education.

Determine exactly what your education is going to cost you with our Student Budget Calculator so you can make informed financial decisions.

Student Budget Calculator

Try it now


Pursuing a professional degree?


The Scotia Professional® Student Plan is a customized banking package designed to help students studying medicine, dentistry, optometry, law and other professional programs achieve their financial goals now and in the future.

See if our program is right for you.


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