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Nursing Student Loan Repayment Plan

Need a cheaper way of repaying your student loan?

Nurses 4 Ontario has arranged a program with the Fort York Credit Union in Toronto to help newly graduated RN students to help reduce the cost of repaying your student loans.

How the program works:
Currently, when you repay your student loan through the National Student Loan Centre, you pay between 5 and 7 % on average of interest on each student loan. The variance depends on whether or not it is a federal, provincial or federal/provincial integrated loan. The Fort York Credit Union and Nurses 4 Ontario want to help recent RN students who have graduated from the Bachelors program and have developed a program which includes:

• Paying only the current bank prime rate, which has stayed at approximately 4.5% for the last few years
• Option of paying only the monthly interest plus $5 per month for the first 2 years after graduation, if you choose not to pay towards the principle of the loan, to get a head start on your career first
• Convenient banking packages to help reduce your banking costs upon graduation.

Fort York Credit Union will issue a cheque to the National Student Loan Centre on your behalf, and in turn, you pay Fort York Credit Union.

There are conditions that apply and not every student will be eligible.

To determine if you are eligible for this program please contact:

Collette Coulter
Fort York Credit Union

416-530-6474 OR fyinfo@fortyork.com