Many post-secondary graduates face tough decisions early in their working lives, balancing loan repayment with other financial obligations such as rent, food and transportation.
With Sunrise Credit Union’s StudentLine, students can borrow up to $15,000/year on approved credit, and can reduce their debt load by the time of graduation.
Statistics Canada shows that 46% of all post-secondary graduates who earn a Bachelor’s degree owe a debt to the government or a financial institution at graduation, and 40% owe more than $25,000. The average debt owed is $29,000. These percentages increase for those who earn a Master’s or Doctorate.
Sunrise Credit Union’s StudentLine is a flexible line of credit that not only allows student-members to borrow what they need—up to $15,000/year, on approved credit—but it also allows them to pay back a portion of their debt throughout their post-secondary education. This can make it easier for students to manage debt and even reduce interest costs.
StudentLine also offers a manageable repayment plan, giving student-borrowers the ability to take up to 10 years to repay after graduation, and repay at any time without penalty.
Post-secondary education can be a stressful time for students without having to add financial stress to their burden. Whether you’re an undergrad, grad student, or a parent, Sunrise Credit Union’s StudentLine can help lighten your load during education and beyond.
Our experts are here to answer your questions and find the right loan, rate and repayment schedule for you.
