Instant access credit for school when you need it
School already comes with enough to manage. A Student Line of Credit can help cover tuition, books, supplies, living costs, and the expenses that come with student life.
Interest only payments while you're in school- Variable rate interest
Trusted by 65K+ members
Funding up to
$12K/yr*
*For eligible students
Flexible funding for your education
A YNCU Student Line of Credit gives you flexible access to funds for the costs that come with school — from tuition and textbooks to rent, transportation, supplies, and everyday expenses. Use the funds you need, when you need them, and pay interest only on what you use. It can provide added flexibility when scholarships, grants, government student loans, savings, don’t cover all your education and living costs. Focus on school. We’ll help with the rest. Open an account and let's get you started on a line-of-credit.1
AccessAccess when you need it
Use only what you need
Once approved, your Student Line of Credit gives you flexible access to funds up to your available limit. Use it for tuition, textbooks, supplies, rent, transportation, or other school-year costs as they come up.- Access available credit again as you pay it back, without applying for a new loan each time.*
SaveOnly pay interest on what you use
Only pay interest on what you use
- Interest is charged only on the amount you borrow from your Student Line of Credit, not your full approved credit limit.
- You can leave part of your approved credit untouched and available for future education expenses, without paying interest on that unused amount.
FlexibleFlexible ways to pay it back
- Only pay interest on the amount you use from your Student Line of Credit while you’re in school, helping keep payments more manageable while you focus on your studies.
- As you transition out of school, you can choose a repayment approach that fits your budget and financial circumstances, helping you manage your student debt as you begin your career.
Good to know. Student Line of Credit eligibility checklist
Before you apply for a Student Line of Credit, here are a few basic criteria to check.3
Enrollment
Criteria 1
Be enrolled in eligible post-secondary studiesQualify
Criteria 2
Meet YNCU’s student borrowing and lending criteriaDocumentation
Criteria 3
Provide any documents needed to support your application
What can you use a Student Line of Credit for?
School comes with more than one kind of cost. A Student Line of Credit can help with tuition, books, supplies, rent, transportation, technology, and other education expenses that come up throughout the year.
Tuition and fees
Helps cover the cost of tuition, course fees, and other program related expenses.Books and supplies
Use it for textbooks, software, equipment, lab materials, or other supplies your program requires.Living expenses
Help with rent, groceries, utilities, transportation, or other everyday costs while you are studying.Technology and tools
Cover a laptop, required software, or other tools or tech you need for coursework.Costs between terms
Cover expenses that come up before your next paycheque or financial aid installment arrives.
Interest-only payments while studying and repayment arrangements after leaving school are subject to your approved credit agreement.⁴
So, I only pay interest while I'm in school?
Commonly asked questions
Eligible students may qualify for up to $12,000 per year for up to $48,000 over 4 years.
The rate is variable and based on YNCU Prime + 2%. Because the rate is variable, it may change over time.
No. YNCU offers interest-only payments while you attend school.
Funding options may be available for part-time studies.
You can use it for costs including tuition, books, supplies, living expenses, transportation, and other school-related expenses.
Yes. A student line of credit is credit offered by a financial institution and is subject to approval and lending criteria. Government student loans have their own eligibility, repayment terms, and assistance options. It is worth comparing both before deciding how to fund school.
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¹ Credit approval and product availability
Lines of credit are subject to credit approval, YNCU membership requirements and applicable lending terms. Approved limits, interest rates and repayment requirements depend on your financial circumstances and the product selected. Applying or opening an account does not guarantee approval. Your credit agreement sets out the applicable rate, fees and repayment obligations.
* Access, interest and repayment
You may borrow up to your available approved limit, subject to the credit agreement. Amounts repaid toward principal may become available to borrow again while the revolving facility remains available. Access and limits may be reviewed, restricted or changed as permitted by the agreement and applicable law.
Interest is charged on amounts borrowed, rather than the unused credit limit. Fees and other charges may apply. Where the rate is variable, changes to the reference rate specified in your agreement may affect interest costs and required payments.
You must make the required payments by their due dates. Paying only interest does not reduce the principal owed. Repayment flexibility does not remove your obligation to repay the outstanding balance.
³ Eligibility and applications
The eligibility checklist provides general guidance and is not a complete statement of lending requirements. Meeting the listed criteria does not guarantee approval. Additional information, income verification, credit assessment and, where applicable, security or a co-borrower may be required. Submitting an inquiry or requesting a call is not an approval or commitment to lend.
⁴ Student eligibility and repayment
Student Lines of Credit are subject to eligible enrolment, credit approval and ongoing product requirements. Proof of enrolment and a co-borrower may be required. Interest-only payments during eligible study periods, any post-study transition period and subsequent principal repayments are governed by your credit agreement. Leaving school or changing your enrolment status may affect access to funds and repayment requirements.