✅ BMO Student Loan Competitive variable interest rates with no annual or monthly fees
✅ Pay only interest while in school and for up to two years after graduation
✅ Up to $20,000 per year, with a maximum of $80,000 over four years
✅ Get a $200 cash bonus when you open a line of credit
Why do we recommend the BMO student loan?
The BMO student line of credit is an ideal solution for students who need financial support during their studies. With competitive interest rates and flexible payments, students can manage their educational costs efficiently. Additionally, being able to access funds as needed eliminates the worry of constant reapplications.
The personalized financial advice offered by BMO is a big difference, helping students keep their finances in order. If you’re a student looking for a convenient and effective way to finance your education, BMO’s student line of credit could be the right choice. Request today and invest in your future with peace of mind and security.
Author’s opinion
BMO’s student line of credit is an excellent option for students looking for an affordable and flexible way to finance their education, with advantageous terms and adequate support.
In the BMO student credit line, in a simulation example, you request CAD 10,000, with interest rate of 5% per year, with the prefund period of 4 years (during the study period, paying only interest), with annual fees of CAD 10,000, 0.05 = CAD 500 and monthly interest: CAD 500 / 12 ≈ CAD 41.67.
During the 4 years of studies, you will pay approximately CAD 41.67 per month in interest. Upon graduation, the principal balance of CAD 10,000 must be repaid according to BMO’s terms, which may include a grace period and various repayment options.
This simulation provides an overview of the costs associated with a BMO student loan. For accurate and personalized details, it is recommended to consult BMO directly.
Find out today how to apply for BMO student loan
With BMO Student Line of Credit, you will have the freedom and flexibility to finance your studies and achieve your academic goals. To find out how to request, simply click the button below.