A student line of credit is a borrowing product for students to help pay for expenses related to post-secondary education. With a TD Student Line of Credit, we offer flexible options which provide financial assistance you need with tuition, living expenses and books.Click to see full answer. Hereof, what is a student line of credit?A student line of credit is a product for students that helps them pay for expenses related to post-secondary education, like tuition or books. With a line of credit, you only have to pay back the money you borrow. You also only have to pay interest on the money that you borrow.Furthermore, can you get a student line of credit with bad credit? Federal student loans can often be obtained by students with bad credit, as they do not require a credit check. Often, students with bad credit will have to pay a higher loan rate. Just so, can you get OSAP and a student line of credit? Of course you can get both! OSAP is based on your assets and your income. A student line of credit is neither – it is a loan. So OSAP doesn’t care about your LOC.Does a student line of credit need a cosigner?You’ll need a cosigner. The only loans available to you are higher interest ones. The interest rate reflects the risk. Student loc have low interest due to the requirement of having a cosigner with good credit and a job.
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