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elmo909
08-23-2006, 09:44 PM
.
saiyajin
08-23-2006, 09:45 PM
just apply for a smaller amount say...3-4000 as the limit for a Student LOC is 8000 and you need proof that you are a full time student
ashee
08-23-2006, 10:39 PM
Why don't you just get student loans? The student line of credit isn't as lieniant for paying back as the government loans. Line of credit you have to pay back right away monthly where as student loan you only start paying back 6 months after you aren't in school anymore.
Si_FlyGuy
08-23-2006, 11:14 PM
because he can't qualify...like duh.
BlackArcher101
08-23-2006, 11:24 PM
Originally posted by ashee
Line of credit you have to pay back right away monthly where as student loan you only start paying back 6 months after you aren't in school anymore.

:bullshit:

My Bank of Montreal Student LOC requires pay off payments after 1 year from graduation. You just have to pay interest before then.
elmo909
08-24-2006, 07:14 AM
Originally posted by Si_FlyGuy
because he can't qualify...like duh.
:eek: Who told you?? :D
That sums it up. My parents are supposed to cut me a cheque, when I haven't seen a dime from them.
ryeguy252
08-24-2006, 07:56 AM
umm ok, here's the scoop....

I work at a bank and I have a student line of credit. Most banks offer prime +1% up to a maximum of 7500 per school year. You just need to show that you have some proof of income during the summer lets say (ie. a paystub),, and a copy of your timetable.

You just have to pay interest on what you use, but when you graduate the interest rates go up I believe since you aren't a student.
Mckenzie
08-24-2006, 09:03 AM
I have a 24k Student LOC at TD.....best decision I ever made. I Used it for a downpayment on a condo.

Until you graduate, you pay interest only. For me with a full 24 k extended its about 140 a month. When you graduate they put a freeze on money coming out of the account and allow you to continue to make interest only payments for 1 year. After that, it turs into a normal line of credit whereby you payback the SAME interest rate but also start paying 1% of principal or $50, which ever is greater.

http://www.tdcanadatrust.com/student/stlfaq.jsp#20