Student Loan LOC

An affordable way to make continuing education possible. Sydney Credit Union's Student Loan LOC is designed for students who require funding for educational purposes, including tuition, books, related fees and living expenses while away from home. Students enrolling in full-time or part-time studies at a recognized post-secondary educational institution (university, community college or technical school) are eligible.

Benefits:

  • Lower interest rates mean lower payments when it is time to pay back your loan
  • You have one year after graduating to secure work before you have to start paying on the principal
  • No waiting for a response about approval
  • Speak in person with local staff if you have questions or need help

Features:

  • Loans available to full or part-time students (a co-signer may be required) with an interest rate of Prime +1% while you are in school 
  • Maximum loan amount of $60,000
  • While in school, you only pay the interest portion of the loan
  • Regular loan payments on the principal do not begin until one year after you've stopped being a student
  • Repayment amortizations range from five to twelve years, depending on the balance of the loan
  • Credit Life and Disability insurance available

The Sydney Credit Union Student Loan LOC and the Sydney Credit Union YOUR Everything Account make a great combination for today's students!

 

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