Student Accounts
Here at North Peace Savings we recognise that the cost of college and University educations continue to rise. Whether you are a college student, a university student, or are currently furthering your education as a mature student, we have financial options designed just for you.
Our student Choice account is designed to relieve some of the financial pressure often felt by post secondary students.
To qualify for the Student Choice account you must:
- Be 25 years of age or younger.
- Provide annual proof of enrolment to full time studies.
- Be the sole signor on your membership.
The student Choice account offers:
- $5 monthly fee includes auto debits, cleared cheques and 25 free electronic transactions (.30 thereafter).
- Free internet and telephone banking.
- Tiered interest.
- Monthly statement.
If you may need to borrow for school, look at the following option.
Our Student Line is a line of credit designed to be user friendly and convenient for any student.
In order to qualify for the StudentLine you must:
- Provide confirmation that you are currently enrolled at a Canadian post-secondary educational Institution.
- Provide an estimate of your education costs (including tuition, supplies, fees and accommodations, food, travel, etc…)
- Provide a list of all financial Resources (savings, bursaries, scholarships, summer employment, etc…)
The StudentLine offers the following terms:
- Borrow up to $7,500 per year to a maximum of $30,000 for 4 years.
- Parents or Guardians are required to co-sign or guarantee all loans for students who are under the age of 19 or do not otherwise qualify based on their own employment income.
- Interest is payable monthly at Prime+2%.
- Annual confirmation of enrolment is required from the educational institution.
- The line of credit converts to a blended loan 6 months after graduation or education ceases.
- Repayment may be made for up to 10 years.
- Can be repaid at any time without penalty.
If you are a parent or guardian wishing to assist in financing your child’s education, contact us today. We can customize a loan that’s right for you! (250) 787-0361.
