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
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.