We’ve done some research for you comparing  Bank student loans

Updated October 27, 2018

Not all institutions offer the same products and their features will vary.  Make sure to compare loan offers to find the ones that fit your needs.

Students can get access to lines of credit  to fill gaps in their funding. 

Unlike everybody else who applies for a line of credit, students are not expected to have income or credit history.

But not all programs qualify and some lenders require someone to co-sign your loan.

bank student loans

​​How much will banks lend you?

The size of your bank loan depends on your expenses, which province your school is in, whether you are a full / part-time student, and what program you're studying. 

Banks favor professional programs because they tend to have higher earning potentials (like engineering, medicine, law, and certain trades). Bringing a co-signer / offering security can improve the bank's offer. Some banks may reject you unless you can bring a co-signer / offer security - even if you're in the "right" programs.


The bank will want to verify:

  • Proof of enrollment at a Canadian post-secondary institution (college / university).
  • The cost of your education - including tuition and residence / textbook / living expenses.
  • A list of your financial resources - scholarships, government assistance, savings, and income from part-time jobs / other sources.
  • Proof of your Canadian citizenship (passport or birth certificate) / landed immigrant status (citizenship certificate).

​​As a student, you'll have to make regular interest payments on your credit line / term loan as soon as you draw / get the money. 

  • You won't have to start making principal payments until you graduate - this means your loan will have a term greater than the length of your program).