Are there monthly fees with student banking?

Nope – you can enjoy student banking with no monthly fees* when you bank with BMO. In fact, you can save some serious cash – more than $130 a year on fees!*

Are there any benefits after I graduate?

You can continue enjoying student banking for an extra year after you graduate, just pop into your closest branch before November 30th of the year you graduate and provide proof of graduation – saving you another $203 on Plan Fees.* If you don’t update your status, regular Plan fees will apply starting in December.

What is the difference between a student loan and a student line of credit?

A line of credit is actually a type of loan that functions like something between a debit and credit card. The line of credit lets you withdraw money up until a certain limit, and use that money on whatever you need – books, tuition, rent, and even groceries. The best part? You only pay interest on what you borrow. Student loans tend to be given out federally (although banks can too!) and when paying off your loan you will pay interest on the entire amount borrowed.

How can I plan for my child's education?

Investing in a Registered Education Savings Plan (RESP) generates tax sheltered earnings for your child’s education, housing and other expenses. The earlier you start, the more time your money has to grow. Learn more about RESPs.