Loans

Government Loans for Students

A student government loan is a wise choice for funding your education. There are no interest or principal payments during your studies as long as you remain in full-time attendance. Repayment begins six months after you have completed your studies. For more information about student government and private loan options please review the guide provided by The Office of the Registrar.

Click on the provincial names below to access the provincial government websites:

• Ontario
• Canada
• British Columbia
• Alberta
• Saskatchewan
• Manitoba
• Quebec
• New Brunswick
• PEI
• Nova Scotia
• Newfoundland
• Yukon
• Northwest Territories
• Nunavut

Private Bank Loans

TD Canada Trust and BMO offer preferred opportunities for Student Lines of Credit to Ivey HBA students who have a financial shortfall for their education financing.  The features of each are:

TD Canada Trust 

HBA students with the Financial Aid letter (confirmation of enrollment letter) and contingent on good credit standing usually do not require a co-signer.

• Line-of-credit of $30,000 per year in each HBA1 and HBA2 to a lifetime maximum of $80,000 (including first two years of University)
• HBA students require a co-signer.
• Interest rate of prime + 0.0%
• Amortization of up to 7 years or escalating payments designed to make the principle and interest payment affordable to your starting salary.
• Interest-only payments while studying and no principle payment until 12 months after graduation
• Repayment of principle will begin 1 year after graduation
• Applicant must be a Canadian citizen or hold permanent residency status
• some conditions may apply and vary

BMO

• Line-of-credit maximum of $45,000 over the 2 HBA years of study
• Interest rate: Prime + 1%
• Interest-only payments while studying
• Repayment of principle will begin 1 year after graduation
• Applicant must be a Canadian citizen or hold permanent residency status
• Co-signer is required
• some conditions may apply and vary

RBC

• Line-of-credit based on client needs to cover education related costs
• Co-Signor required
• Credit line interest rate: Prime + 1.0%
• Repayment interest rate: Prime + 3.5%
• Applicant much be a Canadian citizen or hold permanent residency status
• Grace period: two years after graduation interest only continues

 The following financial advisors would be happy to provide more information about their program: