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

Annual limit up to $20,000 for full-time students

Annual limit up to $5,000 for part-time students


Full-time

Full-time
Minimum Limit per year Maximum Limit per year Total 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 $10,000 $40,000

Part-time

Part-time
Minimum Limit per year Maximum Limit per year Total Maximum Credit Limit
Certificate or
Apprenticeship Program
$1000 Approved credit
limit divided by the
# of years of program
$10,000
Undergraduate/Diploma $1000 $5,000 $20,000

Graduate Programs3

Graduate Programs3
Minimum Limit per year Maximum Limit per year Total Maximum Credit Limit
Full/Part-time Program less than 18 months $1000 $60,000 $60,000
Full/Part-time Program greater than 18 months $1000 Approved credit limit divided by the
# of years of the program3
$60,000

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.


Ready to Apply

  • In Person Visit your local branch.
  • Fax or Mail Simply print off an application, complete the information and fax it to us at 1-800-403-7448
    or mail it to us
    Scotiabank National
    Student Loan Centre

    PO BOX 2013 STN BRM D
    Toronto, On M9A 9Z9
  • Online 3 easy steps, under 10 minutes, 100% safe and secure Apply Today