Student Financing

• Student approved loans for a maximum period of 18 months, upon acquiring his or her license.

Particularities:

• No payment required until the end of the study period.

Characteristics:

Admission:

Canadian citizens or landed immigrants enrolled in a full time course with Grondair (non transferable)

Purpose of the loan:

Theoretical courses, course material, course books, and flight training.

Loan Limit:

A maximum of $40,000.00 depending on the type of course chosen.

Type of Financing:

Adapted line of credit.

Method of payment:

Payment will be required upon issuance of the bill, within the 18-month period, at the request of Grondair. The student will be required to present the bill to La Caisse Desjardins, where La Caisse will issue a check payable to Grondair. The amount on the bill will have been confirmed by Grondair prior to it issuance.

Loan Payment:

During the training: Payment of interest only, at a base rate of +1.0%

Upon completion:    Payment of the loan in full, over a maximum period of 5 years. The first payment must be within a 6-month period, upon completion of the course, at the rate of +1.0% interest. 

Guaranties:

Loan guaranties, such as tangible assets, may be required. 

Line of Credit Insurance:

Life insurance is required.

Invalidity insurance is optional.

Advantages:

• Ease of financial needs while paying only the interest owed on the total amount.

• Employment opportunities are possible upon payment of the first installment of the loan, once the course is complete.

• Payment may be extended over several years on the total amount financed.

Other services:

• Profit Jeunesse Desjardins account, according to certain criteria.

• Multiservice Desjardins card.

• A VISA Desjardins credit card.

• AccèsD online services.

Please note:  This document is not a legal document

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