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Student Loans

Build a Lifelong Foundation

Our Student Loans are designed specifically to help students earn a college diploma or university degree.  Built into every Student Loan at FirstOntario is an understanding of how education, employment and income fit together.

You have a couple of different repayment option while you are still attending school. Make interest-only payments each month, which helps you reduce the total debt load you’ll face on graduation. If you need a little bit of extra cash for expenses, you can defer interest payments. The accumulated interest will be added to your loan at the end of the year. And, because finding the right job may take a little while, you can postpone repayment of the loan for up to six months after you graduate.

Our Best Student Rate

We know that your post-secondary education will lead to enhanced job opportunities for you down the road.  That’s why, at FirstOntario, we give you a preferred interest rate on your Student Loan.  We want to keep you as a Member long after you enter the working world.

Student Loans are available up to $7,500 each year, to a maximum amount of $30,000 for the period of your stay in a post-secondary institution.

Student Loans are open and so you can reduce the outstanding principal in lump sums at your convenience, with no prepayment penalties. Plus, optional life, disability and critical illness insurance are available to make sure you and your family are protected in the event of illness or death.

 

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