CIBC - Your Financial Guidebook

1,047,700 students signed up for post-secondary classes in 2005/2006.1
University tuition is increasing at a rate four times faster than inflation.2
In 2003/2004, The median average amount spent by university and college students for an academic year was $14,500.; That includes $2,500 - $8,000 for tuition alone!

This financial guidebook is designed for people like you - high school students who are thinking about attending university or college. We created this guide to give you the information you need to make smart financial decisions when you start college or university in the coming years. Inside, you'll learn about school financing options, how credit works, basic money management and more. We hope you find this guide useful and informative, and wish you all the best with your studies!

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	CIBC Helps

	CIBC Education Line of Credit If you do not have a government student loan or are still in financial need despite receiving government financial assistance, you can apply for the CIBC Education Line of Credit. While you are a post-secondary student, you can receive up to $15,000 if you're a part-time student or up to $40,000 if you're a full-time student.3 With the CIBC Education Line of Credit, you pay just the interest while you are in school and for 12 months after you graduate or 6 months after you leave your program. After this period, your CIBC Education Line of Credit converts to a personal term loan and you start to pay back both the interest and principal.

	CIBC Advantage® for Students If you're a full-time student in a qualifying post-secondary program, the CIBC Advantage for Students offers you free transactions4 and no monthly fee on the CIBC Everyday® Chequing Account. CIBC Advantage for Youth If you're 18 years of age or younger, the CIBC Advantage for Youth provides you with a CIBC Premium Growth Account with special benefits such as higher interest, free statements and free transactions.5 This is a true savings account with interest calculated daily and paid out monthly. Higher interest rates are paid on higher balances. This account can be opened and held by anyone 18 years of age or younger with your parent's consent.

	CIBC Classic VISA* Card for Students Make your first credit card a CIBC Classic VISA card for students. Pay no annual fee and get an 18.5% interest rate 6, as well as discounts on Avis car rentals at participating locations. To apply for the CIBC Classic VISA Card you must be a Canadian citizen and full-time student enrolled in a recognized college or university with a minimum annual income of $1,200.

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* VISA Int./CIBC Lic. user

1 The Daily, Statistics Canada, 2008

2 Ouellette, Sylvie, How Students Fund Their Postsecondary Education: Findings From The Postsecondary Education Participation Survey, Statistics Canada Human Resources and Social Development Canada, April 2006

3 CIBC Education Line of Credit applicants must meet CIBC standard credit criteria. Credit limit depends on credit position

4 "Transaction" includes the following: cheques, withdrawals, pre-authorized payments, bill payments and INTERAC Direct Payment purchases. Additional fee(s) apply to all withdrawals at bank machines not displaying the CIBC name or logo; the student discount does not apply to these

5 Additional fees will apply on withdrawals at bank machines not displaying the CIBC name or Logo

6 This is the current rate as of September 2008. The rate will change with at least 30 days prior notice