Student Loans

The RCU Student Loan is different from the Ontario Student Assistance Program (OSAP). This loan is available to RCU members who meet RCU Student Loan criteria and require the funds to pay for a post-secondary education.

At RCU we want to help you achieve your life goals of a post-secondary education. We would like to remind you that there are many ways to pay for that education. With the cost of education constantly rising you may need to tap into more than one resource throughout your time in school. 

Whether you can rely on family, use your own savings or apply for student grants or loans, it is a good idea to understand all your options.

Scholarships, grants and bursaries provide funds to qualifying students. If you qualify for these funds it is “free money” you will not need to pay this back; it is not a loan. While the competition and criteria for this type of funding can be tough, it is well worth the time and effort to see what funding you may be eligible for either as a new or returning student.

Don’t forget about scholarships available through our community;

•    RCU Scholarship
•    Labdara Scholarship
•    KLF Scholarship
•    The Student Grant Pogram

Government Student Loans

The Ontario Student Assistance Program (OSAP) offers loans to full and part-time post-secondary students who demonstrate financial need.

Consider an RCU Student Loan

If, after you have gone through these sources, you find that you are still a bit short the RCU Student Loan could be a perfect solution for you.
At RCU we understand that tuition costs, accommodation, books and materials can really add up, this is why we have developed specific financial services for students;
•    Service charge free account for students (under the age of 25)
•    Low rate Student Loans
•    Easy accessibility to your funds through DING free (use The EXCHANGE ATM Network for deposits and withdrawals)
•    Internet Banking, e-Transfers
•    RCU Student Loans require interest only payments (can be covered with the new advance off funds).

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Loans Rates
Personal Loans 5.60%
Line of Credit 7.10%
Student Loans 2.95%