Student Line of Credit
For Canadian citizens and Landed Immigrants, the University has arranged to participate in bank sponsored academic loan programs for graduate and professional study.
The University is a designated institution under the CIBC Educational Line of Credit Program (ELC). Information about this program is available online. Students must visit their local branch to apply. Click here to access the CIBC website.
Students of RCC Institute of Technology may also eligible to apply for a student loan at:
* TD Bank(Student Central)
* Bank of Montreal (Brain Money)
* Royal Bank (Credit Line for Students)
The following is a TD Bank student line of credit example
* Money to Learn: maximum is $8000/year for a maximum of 4 years ($32,000)
* Low cost: The interest rate is prime plus 1% set monthly
* Repayment: An interest only repayment begins while you are in school and continues for 12 months after graduation. After that you begin monthly principal plus interest payment that will repay the loan in up to 20 years.
