Who can request the BMO student loan?
You can request the BMO student loan, you must be a full- or part-time student enrolled in an eligible post-secondary school.
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.
Requirements to acquire a BMO student loan
✅Full- or part-time student enrolled in an eligible postsecondary school
✅ Being enrolled in a diploma or certificate program
✅ Being Canadian citizen or permanent resident
✅ Your government-issued photo ID
✅ Your proof of enrollment at an eligible post-secondary school
✅ Co-signer’s government-issued photo ID
✅ Proof of the co-signer’s employment, such as a letter from an employer or recent pay stubs
✅ Co-signer’s recent T4/T4A slips or RL1 if he is a Quebec resident, or T1 income tax return or Revenue Quebec TP1 with corresponding assessment notice
A tip for you!
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.
BMO Student Loan Fees
Variable and competitive interest rates, no annual or monthly fees. Interest rates may change based on BMO’s Prime rate.
How do I apply for a BMO student loan?
Visit the BMO website to access all the information. After, you find someone to be your guarantor (usually a parent). Then make an appointment at a BMO branch to speak with a loan specialist.
You must go with your guarantor, bringing the requested documentation. Your situation will be analyzed, and a credit line plan will be drawn up for you. Once approved, access your money at a BMO branch or with line of credit checks. If you have a BMO checking account, use your line of credit via online or mobile banking.
Start investing in your future today and apply for your BMO Student Line of Credit!