An affordable loan product designed specifically to assist with the costs of post-secondary education.
Affordable while in school: Expand/Collapse
"You just need to make interest-only payments."
- Interest-only payments until graduation or termination of studies.
- Lower rates available while attending school.
Affordable after school: Expand/Collapse
"You can arrange a repayment schedule that suits you life."
- Six months interest-only payments post-graduation with repayment plans up to 10 years.
- Variable rate available post-graduation or termination of studies.
Peace of mind: Expand/Collapse
"You have peace of mind knowing you have funds available for your education."
- Up to $10,000 annually to a maximum of $80,000 overall.
- Annual withdrawals up to $10,000. If you only use a portion, the remaining amount is available for future years.
- An education loan could be used to supplement a government student loan, if additional funds are needed.
"You can protect your assets."
- Loan Insurance available:
- Critical Illness
"You only need to complete loan documents once."
- Readvanceable (funds can be reborrowed once principle is paid back).
- Funds advanced by phone, email or in person.
"You have many options to meet your needs."
- A Variety of Repayment Options, including:
- Payment frequency
- Length and term of loan
- Automatic transfers or self-service payments
Cost Savings/Earnings: Expand/Collapse
"You can make lump sum payments to your loan at any time and save on interest."
- No penalty
"You may share in the credit union's profits."
- ProfitShares program
Immediate or detailed information: Expand/Collapse
"You have many different ways to access your account information or history."
- In branch assistance.
- Online banking, telephone banking or mobile services.
- Monthly detailed statements.
Who might benefit from this product/service?
Anyone enrolled in a recognized college, university or technical school, with a 60% minimum course load.