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Student line of credit

Quickly access funds to help you cover costs related to your studies.

To apply or learn more, contact our Youth Advisory Department.

1-800-667-7972 This link opens your phone app.

What is a student line of credit?

A student line of credit is geared toward vocational, college/CEGEP and university students.1 It’s a set amount that you can use to pay your tuition, housing or transportation costs, as well as school supplies or computer equipment.

The student line of credit can be used on its own or in addition to the student loan offered by Quebec’s Student Financial Assistance (AFE).

Benefits of the student line of credit

Support

We’re here to answer your questions and ensure that your financing meets your needs throughout your studies.

Quick access to funds

If you’re a member, you’ll have quick access to your money once you get credit approval.  It’s just a phone call away.

Financing based on your field of study

Get a competitive variable rate and credit limit based on your needs and your field of study.

Flexible payments

While you’re a student, you can repay just the monthly interest on the principal used on your line of credit.2 You have up to 2 years to start paying back your principal once your studies are over.

Eligibility

To be eligible, you must:

    Not eligible for the student line of credit?

    We have other options. You can apply for a Personal Line of Credit or a personal loan to help you pursue your studies.

    Rates and limits by field of study

    The amount and interest rate on your student line of credit depend on your level and field of study. If you need more funds, you can apply to increase the amount, up to the annual and maximum credit limit set for your studies.  The rate on the line of credit ranges from 4.7% to 5.95%. Contact us to see which rate applies to your situation.

    Healthcare

    Field of studyMaximum credit limit
    Audiology$80,000
    Chiropractic care$100,000
    Dentistry$350,000
    Medicine$350,000
    Midwifery$80,000
    Nursing (undergraduate only)$80,000
    Occupational therapy$80,000
    Optometry$150,000
    Pharmaceutical studies$150,000
    Pharmacology$100,000
    Physiotherapy$80,000
    Podiatry$150,000
    Psychology$80,000
    Speech therapy$80,000
    Veterinary medicine$150,000

    Law and administration

    Field of studyMaximum credit limit
    Accounting (CPA)$100,000
    Actuarial science$100,000
    Administration (BA)$60,000
    Administration and management (MSc)$100,000
    Business administration (MBA)$100,000
    Law$100,000

    Science

    Field of studyMaximum credit limit
    Architecture (undergraduate and graduate)$100,000
    Engineering$100,000
    Information technology$60,000

    Other fields and levels of study

     Field or level of studyMaximum credit limit
    Airline or helicopter pilot training (ACS)$80,000
    Airline or helicopter pilot training (DCS)$120,000
    College/CEGEP (1 year)$7,500
    College/CEGEP (2 years)$15,000
    College/CEGEP (3 years)$22,500
    Professional$9,000
    University (certificate, 1 year)$15,000
    University (master and PhD, 2 years)$30,000
    University (undergraduate, 4 years)$60,000

    How does a student line of credit work?

    While you’re in school

    • Once a month, we withdraw only the interest on the principal you’ve used. This amount is taken from your everyday account. If you don’t have enough at the time of withdrawal, we’ll debit the amount from your line of credit. Make sure you have enough funds each month to avoid default.
    • If you’re able to start repaying your principal, you’ll pay less interest in the long run. In addition, the amount you’ve repaid becomes available again on your line of credit if you need it.
    • If you feel like you need to change your line of credit amount during your studies, you can always ask for a reassessment.

    Once you’ve finished school

    • Once you’ve finished your studies, you have up to 2 years to start paying back the principal on your student line of credit.
    • After these 2 years, the balance is converted into a personal loan or personal line of credit, subject to credit approval.
    • You then pay back your loan or line of credit under the terms of the new contract.

    Applying for a student line of credit

    1.  Step 1 You’ll need proof of enrollment that has your name, field of study and student status (full or part time). This could be a transcript, schedule or progress report.

    2.  Step 2 Contact our Youth Advisory Department.

    3.  Step 3 Tell us your needs and consider getting Line of Credit Insurance to protect your loan.

    Tools to guide you

    Find your borrowing solution

    Have a project that'll cost at least $1,000? Use our tool on AccèsD to help you choose the financing that's right for you.

    Find your borrowing solution on AccèsD.

    Student profile

    Keep your Student profile up to date on AccèsD to get product and service offers based on your field of study.

    Use the Student profile tool on AccèsD.

    Your budget

    Get a clear picture of your income and expenses with the Your budget tool. It can help you set your priorities and plan for unexpected expenses so you can reach your financial goals.

    Use the Your budget tool.

    A helping hand for your studies

    Youth offer

    Get our everyday account with a free monthly plan if you’re 18 to 24, or if you’re 25 to 30 and studying full time.

    Learn more about our youth offer.

    Scholarships

    Apply for a Desjardins Foundation scholarship.

    Learn more about Desjardins Foundation scholarships.

    FAQ

    What is the difference between a student line of credit and a personal line of credit?

    Our personal line of credit gives you a set amount based on your needs, financial situation and ability to repay. It has a variable interest rate based on the prime rate, the set amount and other criteria.

    Our student line of credit gives you access to a set amount if you pursue vocational, college/CEGEP or university studies at an eligible institution. It also has a variable interest rate, but it’s lower than that on a personal line of credit. The rate and set amount depend on your needs and field of study.

    I want to study abroad. Can I get a student line of credit?

    Yes, you can get a student line of credit to study abroad if the institution is recognized by the government.

    I’m an international student. Can I get a student line of credit?

    No, you must have Canadian citizenship or permanent residence and live in Quebec or Ontario to get a student line of credit. Contact an advisor to see what options are available.

    Am I eligible for the student line of credit regardless of what school I go to?

    No, certain schools are not eligible for the student line of credit. Non-eligible schools are usually private schools, like beauty or massage schools. Contact an advisor to see if your school is eligible.

    Apply for a student line of credit

    By phone

    Monday to Thursday: 8:30 AM to 7 PM
    Friday: 8:30 AM to 5 PM

    1-800-667-7972 This link opens your phone app.

    We can also call you when it’s convenient.

    Tips for managing your finances

    Lines of credit are subject to Desjardins credit approval. Certain conditions, limitations and exclusions may apply. Lines of credit are offered based on your needs. Speak with a Desjardins advisor to see which line of credit is right for you.Credit charges begin to apply upon payment of each cash advance and are calculated daily on the amount spent. There are no membership fees and a monthly account statement is sent to the member if the balance is negative. Rates are for illustration purposes only and are subject to change without previous notice. Examples of monthly credit charges for $1,000: annual credit rate of 4%: $3.40; annual credit rate of 5%: $4.20; annual credit rate of 6%: $5.10. Credit charges do not include insurance charges. Some conditions apply.