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Financing your education

Set yourself up for success

Learn about your options

Tuition, books, rent—have you thought about how you're going to cover all your school expenses? Learn how our solutions can finance your education so you can focus on your studies.

6 ways to finance your education

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Research scholarships and bursaries

There are numerous grants available at the college or university level to reward academic excellence, athletic achievement, and more. Check your school's website to see what's available. If you're eligible, be sure to apply—grants are a great way to finance your education without going into debt.

Are you interested in the world of finance?
Learn about National Bank's scholarships.

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Applying for government loans and grants

In Canada, postsecondary students can benefit from federal and provincial student loans and grants.

Students in Quebec who lack the financial resources to pursue full-time vocational training or post-secondary education can take advantage of the Quebec Loans and Bursaries Program.

As long as you're a full-time student, you won't accrue interest or have to make loan payments. When you finish your studies, you'll enjoy flexible repayment terms. For the first six months, you'll only have to pay interest, which you can claim for a tax credit.

Young female student with backpack walking on university campus
Young female student with backpack walking on university campus
Young female student with backpack walking on university campus
Young student with leather jacket reads in a library

Understanding the Student Line of Credit

If you're not eligible for government assistance, or need additional funds, consider a Student Line of Credit. Your credit limit depends on your tuition fees and level of studies. While you're a student, you'll only pay monthly interest fees.

You'll start repaying the loan when you take on a full-time job or 12 months after the end of your full-time studies.1

See the Student Line of Credit

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Tip

Are you a student in engineering, law, business or healthcare? Save on your banking services with our packages for students.

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Cashing in your RESP

Do you have a Registered Education Savings Plan (RESP) in your name? You can start cashing it in as soon as you enroll in an eligible postsecondary program.

Read on to find out how.

How your RESP works

Female students sitting in a classroom
Female students sitting in a classroom
Female students sitting in a classroom
Female student in a library smiles while holding books in her hands

Transfer funds from your RRSP to an LLP

Thinking of going back to school? You can use your RRSP to finance your studies. Transfer funds from your RRSP to a Lifelong Learning Plan (LLP) to fund your education without taking a tax hit.

You can borrow up to $20,000 from your RRSP over a four-year period (maximum of $10,000 per year). The amount borrowed can be repaid over 10 years.

See the LLP

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Taking out a personal loan

Unlike a line of credit, a personal loan is repaid in regular instalments over a fixed period.

Choose a fixed-rate loan to simplify your finances or a variable-rate loan to take advantage of lower interest rates.

Several repayment periods are available, and you can pay your loan off faster without a penalty.

See our personal loans

Young man standing in front of a bookshelf smiles
Young man standing in front of a bookshelf smiles
Young man standing in front of a bookshelf smiles
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Little details that matter

Legal disclaimer

1. For students in medicine, dentistry, pharmacy, optometry, veterinary medicine, chiropractic and engineering: No principal and interest payments required until 12 months after the end of studies or loss of full-time student status (subject to not exceeding the authorized credit limit). However, interest accrues during this period and is capitalized monthly.

Understanding student financing

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Study without financial worries

Meet with an advisor to find the financing solution that's best for you.

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