TD Undergraduate. A student line of credit does not affect your eligibility for OSAP or other government loans. A student line of credit can be used for various education-related expenses such as tuition fees, textbooks, supplies, and living expenses. Student Line of Credit Alternatives. A student line of credit LOC is a type of loan that provides financial assistance to students for their post-secondary education.
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A teen checking account is a type of joint bank account. Any bank account that's opened for a minor must be opened with a parent. Financial. A teen checking account, also called a student checking account, is a bank account designed with minors and high school students and college students in mind.
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Read MoreA student line of credit is a product offered by financial institutions to help students pay for expenses related to their post-secondary education. Upon graduation, you can convert your CIBC student line of credit into a personal loan, or keep it as a line of credit. BMO Professional Programs. About Us. However, they may also come with higher interest rates and stricter eligibility requirements compared to student lines of credit. Other banks, such as CIBC, may allow you to convert your student line of credit into a personal line of credit.