Students

Best Bank for Student Line of Credit

[OP]
Newbie
Dec 22, 2018
48 posts
17 upvotes

Best Bank for Student Line of Credit

Hi there,
I am entering my masters program which is not eligible for government student loans, so I will be taking a LOC. Any advice for which banks offer the best rates?
4 replies
Deal Addict
Jul 12, 2008
4852 posts
1392 upvotes
GTA
ilikebigmuttsandicannotlie wrote: Hi there,
I am entering my masters program which is not eligible for government student loans, so I will be taking a LOC. Any advice for which banks offer the best rates?
Look at the program to see what they recommend, sometimes they have partnerships already that you can use to secure a good deal and rate from the banks. For instance, when I was looking at MBA programs, some schools had contacts at the bank who provided competitive rates and a process tailored to the student specifically.
Sr. Member
Dec 12, 2016
503 posts
519 upvotes
ilikebigmuttsandicannotlie wrote: Hi there,
I am entering my masters program which is not eligible for government student loans, so I will be taking a LOC. Any advice for which banks offer the best rates?
What are you majoring in? Also, what is in your undergrad in?
Deal Addict
Apr 21, 2009
2589 posts
2578 upvotes
Toronto
Scotiabank Student Line of Credit
Just pay prime

I have 10K out and I pay close to $30 a month for it
Deal Addict
User avatar
Aug 9, 2011
2031 posts
395 upvotes
GTA
BengaliPrince wrote: Scotiabank Student Line of Credit
Just pay prime

I have 10K out and I pay close to $30 a month for it
Definitely go for the lowest interest rate.

I find Scotia offers competitive rates generally.

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