STUDENTCHOICE® Education Loan

Finance your future

A STUDENTCHOICE Education Loan can help both full-time and part-time students with financing education expenses while attending college or university1. You only pay interest on the amount outstanding while you are a student.

After you complete your program or are no longer enrolled, you will have up to 1 year before you are required to set up a fixed payment schedule2.

Overview

  • Easy access to funds as you need them
  • Revolving credit while enrolled3
  • Variable interest rate4

Conexus offers 3 different programs.

  • Basic Program: Includes most 4 year university degree programs. i.e: BEd, B.Comm, etc. and Technical/Vocational schools, i.e. SIAST, Police etc
    • $15,000 per year / $60,000 maximum total for 4 year program
    • $75,000 total for 5 year program5
  • Professional Designation: Includes Chiropractics, Optometry, Pharmacy, Law etc.
    • $30,000 per year to a maximum of $150,000
  • Professional Medical and Dental: Includes Medical Doctors and Doctors of Dentistry.
    • $50,000 per year to a maximum of $300,000
  • Additional loan amounts may be considered

 

Payment Information

  • Payment amount is fixed for a predetermined period of time
  • Make payments weekly, bi-weekly, semi-monthly, or monthly
  • No prepayment penalty

Additional Information

  • Must be enrolled in a recognized post-secondary education or post-graduate program
  • Enrollment verification is required in January and September each year
  • Full time is defined as a minimum 60% course load over a minimum of 8 months
  • An application fee may apply
  • Cost of credit and any fees will be disclosed at time of approval
  • Optional life, critical illness and disability insurance is available6
  • Assigned life insurance in an amount equal to the approved credit limit is required for both the Student and the Guarantor (if applicable).

Rates

STUDENTCHOICE Rates
Variable Rate Prime + 1.5% 4.20%
  1. All applicants must meet Conexus Credit Union lending criteria for loan approval.
  2. Fixed payment schedule is subject to a maximum 10, 15 or 20 year amortization depending on program year amortization.
  3. Enrollment verification is required in January and September each year. Loan must remain in good standing for continuing credit.
  4. A variable rate will change when the prime rate changes. If rates go down, the interest payment required will decrease.
  5. Annual recommended amounts are cumulative depending on program and maximum aggregated totals. Loan maximums may be prorated for part-time students.