How do student lines of credit work?
Benefits of this product
- Competitive interest rates based on your program
Enjoy competitive variable interest rate based on TD Prime Rate.
- Interest-only payments while in school
Interest-only monthly payments while in school and for 24 months after you leave school.
- Manageable repayment
Once you leave school, your line of credit will be converted to a student loan with comfortable fixed payments.
- Option to make extra payments
Pay more than the minimum amount each month to repay your loan faster
- No need to reapply
Apply once for a credit limit that you can continue to use and re-use1 while in school1.
- Convenient access
Access your credit through your TD Access Card2, cheques and EasyWeb Online banking
Student Budget Calculator
Figure out the total cost of your school year. Get a realistic forecast of your expenses, plus ideas on ways to cover your costs.
Program Details for Undergraduate Students
Program Details for Graduates and Professionals
What you’ll need to bring
- Most Undergraduate Student Line of Credit Applications require a co-signor
- Majority of Graduate and Professional Student Line of Credit Applications do not require co-signor
- Current address and previous address (if current address is less than 3 years)
- Your annual income (sources and amount)
- Your monthly mortgage or rent amount
- Your monthly payments (loans, credit cards, lines of credit)
- Household costs (utility, property tax, insurance, etc.)
- Proof of enrolment
- Social Insurance Number (optional)
1 Subject to the terms of your Line of Credit Agreement.
2 Available when TD Canada Trust Student Line of Credit is programmed on your TD Access Card. Fees may apply for Interac® access and the use of other ATMs.
3 Annual proof of enrolment required.
4 Maximum credit limit is subject to program.
Interac is a registered trade-mark of Interac Corp. Used under licence.
How to Apply
Book an appointment
Meet with a banking specialist in person at a branch that is most convenient for you.
Our banking specialists are ready to answer your questions and can assist you in opening an account.