student loans & line of credits

Momentum student loans and student line of credit products, with both flexible and competitive options can assist with all of your post-secondary educational requirements, from College to University to Trade Schools.

Momentum Credit Union's Student Loans and Lines of Credit can be customized to fit the borrower’s needs through a combination of fixed term loans and revolving lines of credit.

This has the potential to lower the total amount borrowed and may ultimately save you money.

Product Eligibility

Full-time student -- 60% normal university course load (as designed by their educational institution)
Part-time student -- 1 course per (school year/semester/trimester)

Application Requirements

Members need:

• Confirmation that you are enrolled at a Canadian post-secondary educational institution
• College
• University
• Career College
• Registered Apprentices – Educational Fees, Tools
• Job Training Programs
• An estimate of your education costs (including tuition, supplies, fees, accommodations, food, travel, etc)
• A list of your financial resources (including savings, bursaries, summer employment, etc)
• A suitable guarantor or meet standard lending requirements Need a parent (s) or guardian (s) to be co-applicant or suitable guarantor

Loan/Line of Credit Amounts

Full-time - $10,000 (maximum) per school year
Part-time (depending on # of courses) - $2,500 (maximum) per school year

Maximum loan for any full-time student $40,000.00

Product Features

• Prime Rate (while in school)
• Prime Rate + 2% (after graduation/grace period)
• Interest only while in school
• Grace period after graduation 3 months

Contact one of our branch to speak with one of our experienced lenders, or apply now to take advantage of our Great Rates!