Student Line of Credit

Build a Solid Future

Our Student Line of Credit is designed specifically to help students finance a college diploma or university degree. Built into every Student Line of Credit at Comtech Fire Credit Union is an understanding of how education, employment and income fit together.

We know that post-secondary education will lead to enhanced job opportunities down the road. That’s why Comtech Fire Credit Union provides a preferred interest rate on our Student Lines of Credit. Our long term objective is to partner with our members throughout their career, and to make a positive difference in their financial future. Our Student Line of Credit will lead to a smooth transition into other financial products that our members will need in the future, including a mortgage, personal line of credit, car loan and our full array of flexible banking products.

The total authorized credit limit on a Student Line of Credit is $40,000. The Student Line of Credit can be advanced to a maximum amount of $15,000 annually, to the total maximum authorized limit.

A monthly payment of interest only is required while the student is enrolled in a qualifying post-secondary education program and until a maximum of 12 months after graduation, or of leaving the program (whichever is earlier). At that time, the Student Line of Credit balance will be transferred to a variable rate loan with a repayment schedule not to exceed an amortization period of 7 years.

For more information on our Student Line of Credit, contact your branch or call us at 416.598.1197 or 1.800.209.7444 press 1

 

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