Student Loan LOC

An affordable way to make continuing education possible. Sydney Credit Union's Student Loan LOC is designed for students who require post-educational funding. Proceeds are to be used for educational purposes only; i.e. tuition, books, fees and normal living expenses for those students. Students enrolling in full-time or part-time studies at a recognized post-secondary educational institution (university, community college or technical school) are eligible.


  • Lower interest rates mean lower payments when it is time to pay back your loan
  • You have one year after graduating to secure work before you have to start paying on the principal
  • Speak in person with local staff if you have questions or need help


  • Loans available to full or part-time students (a co-signer may be required) with an interest rate of Prime +1% while you are in school 
  • Maximum loan amount of $80,000
  • While in school, you only pay the interest portion of the loan
  • Regular loan payments on the principal do not begin until one year after you've stopped being a student
  • Repayment amortizations range from five to fifteen years, depending on the balance of the loan
  • Credit Life and Disability insurance available
Professional Designations

  • The maximum loan amount to any one student will be $80,000, unless the student is pursuing a select professional designation, in which case the maximum loan amount will be $150,000
  • Select Professional Designations could include the following: medicine, dentistry, optometry, veterinary medicine, pharmacy, podiatry, chiropractor, law, engineering, occupational therapy, physiotherapy, MBA/EMBA and accountancy

The Sydney Credit Union Student Loan LOC and the Sydney Credit Union Cheguing Account make a great combination for today's students!