For longer-term borrowing, you may want to consider a business loan instead. On This Page. You can also request a confirmation of enrolment letter from your university. RBC offers three types of student LOCs: one for undergraduate and graduate students, another for professional studies, and one for medical and dental students.
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BMO Harris Bank in Portland, OR offers a wide range of financial products and services for individuals and businesses, including checking and savings. We're here to help! BMO offers a wide range of personal and business banking services, including bank accounts, mortgages, credit cards, loans and more.
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Read MoreSome lenders may allow you to lock-in the interest rate for your line of credit for a certain term, however, it will revert back to a variable rate at the end of the offered term. Undergraduate Students: Starting from 6. However, unlike a credit card, a line of credit has a lower interest rate. A line of credit is similar to a credit card in that it's a revolving account, which means you have the flexibility to borrow from it, pay it off fully or partially , and borrow from it again without needing to apply for another loan. If you're not sure, ask your agent or the company for clarification.