 |
|
|
|
|
| |
|
Below is the Question & Answer that you have chosen to view on our online Synergy Solution Centre.
If the answer to this question is not what you are looking for, please enter a comment into the provided comment box.
You can also give us a "thumbs up" if you like the answer to this question!
|
Q. I am interested in attending post-secondary school in the fall. What is the best option to fund my education – A Canada Student loan, CU Student loan or some other kind of loan?
A. We appreciate your interest in a Credit Union Student Loan to invest in your future education plans. Synergy’s student loans offer:
· interest only payments while you attend school
· flexibility – if you do not use your annual allotment, for example if you receive a scholarship or work during the summer, then that amount can be transferred over to another school year. If you don’t use it, you don’t lose it like with Canada Student loans.
· and, you get room to stretch: you receive a six-month grace period from the time you graduate or finish full-time attendance at school. This gives you time to get on your feet before committing to regular monthly payments.
While our education loan program is very student-friendly, it should only be considered AFTER you have explored your eligibility for a Canada Student Loan.
The Canada Student Loan is always the best option as it is interest-free while you attend school, provides added benefits when you do begin repayment as interest is considered a tax deductible expense, and you could apply to qualify for remission, whereby the government would pay out a large portion of the debt.
For more information and calculators click Canada Student Loans and Grants
Synergy Credit Union invites you to contact us if you do not qualify for a Canada Student Loan and we’ll explore all options that open to you. We wish you much success in your educational pursuits.
|
|
|
|
| |
|
|
|
|
