Professional or Medical Student Lines of CreditPursuing a professional designation demands focus. BMO Professional or Medical Student Lines of Credit let you stay focused on what’s important—your studies.
Professional and Medical students
- Borrowing designed for your specific program
- Easy access to funds – BMO debit card, write a cheque or visit any branch.
- No annual, monthly or ATM fees
- Pay interest only on what you borrow while you’re in school1 and for up to one year after graduation, followed by a gradually escalating repayment schedule
- Ask us about repayment plans for your program2
- As you pay down your balance (and monthly interest payments) you can keep borrowing up to your credit limit
Available Credit Limits
|Program||Credit Limit Per Year||Total Maximum Credit Limit|
|Medical Student Line of Credit|
|Medicine (Medical Doctor)||$50,000||$200,000|
|Professional Student Line of Credit*|
|Master of Business Administration (MBA)||$10,000||$50,000|
1Includes up to 2 years of specialty studies for Dentistry Professional Student Line of Credit and for Medical Student Line of Credit monthly interest payments applies to a maximum of 7 years of residency.
2Applies only to Dentistry Professional Student Line of Credit and for Medical Student Line of Credit only. Certain conditions apply. Visit your local branch or call 1-877-CALL-BMO for complete details.
*A co-signer may be required. Subject to credit availability and verification of identity.
Are You Eligible?You must:
- Be a Canadian citizen or landed immigrant
- Be enrolled in a Canadian or non-Canadian post-secondary school or university
- Meet BMO’s usual credit criteria
- Need help with budgeting for school? Click here for our Student Budget Calculator
The Student Line of Credit is a part of the BMO Student Six Pack. Find out more about how you can take advantage of more great services designed just for students.
Learn more about the BMO Student Six Pack