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.
- 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 amount is fixed for a predetermined period of time
- Make payments weekly, bi-weekly, semi-monthly, or monthly
- No prepayment penalty
- 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).
|Variable Rate Prime + 1.5%||4.20%|
- All applicants must meet Conexus Credit Union lending criteria for loan approval.
- Fixed payment schedule is subject to a maximum 10, 15 or 20 year amortization depending on program year amortization.
- Enrollment verification is required in January and September each year. Loan must remain in good standing for continuing credit.
- A variable rate will change when the prime rate changes. If rates go down, the interest payment required will decrease.
- Annual recommended amounts are cumulative depending on program and maximum aggregated totals. Loan maximums may be prorated for part-time students.