Finances

Employer Sponsorship

Many of our current students receive partial or full tuition support from their employers. Connect with our team to get guidance on how to start this conversation with your supervisor or HR department and visit our guide.

Bank Loans

Banking with RBC

• Maximum loan amount is $65,000 (based on projected income of $80,000)
• Interest:  Variable Rate (Subject to change)
  • RBC’s Prime Rate + 0.5%
• Payments:
  • Monthly Interest-Only While Studying
  •  Up to 2 years before you need to start repaying the principal
• RBC on Campus McMaster Advisor Contacts:
  • Gage Robinson (1-365-323-3068)
  • Gabriella Wang-Giurdanella (1-365-889-5639)
  • McMaster Hamilton Campus – 1280 Main Street West, Hamilton, ON, L8S 4L8

Banking with BMO

A student line of credit* is a flexible, affordable way to pay for school. Here’s how:

• Easy access cash to help cover tuition, rent, books, etc.
• Get a competitive interest rate with no annual or monthly fees.
• Make interest-only payments while you’re in school, plus two years after graduation.
• You have access to funds whenever you need them, and only pay interest on what you borrow.
• There are no annual or monthly fees.
• You can pay the entire outstanding balance whenever you want, without a penalty.

DeGroote Student Rate:

BMO is here to help you focus on what’s important – your studies. BMO is offering DeGroote students’ a low-interest rate of BMO’s Prime Rate+ 0.5% while you’re in school; up to a limit of $90,000 depending on your program or borrowing needs*.

Do Full-time and Part-time students qualify for the same amount?

Part-time students may not qualify for the full maximum academic year credit limit. Annual education expenses will determine the credit limits for these students. Expenses may include the cost of all courses for the year, such as tuition and books, etc. For correspondence courses, the credit limit cannot exceed the total costs for the course. Carry-over may be allowed, however discretion should be exercised and assessed based on the budget the student provides.

DeGroote Designated BMO branches:

Branch staff at these locations will be available to answer any questions you have related to your graduate studies. To access the DeGroote specific PSLOC rate you’ll need to visit one of the branches listed below.

BMO Branch – Burlington Location
1841 Walkers Line
Burlington, ON
L7M0 H6
Branch Manager – Shawn Hokansson
E-mail: Shawn.Hokansson@bmo.com
Phone : 905-336-3726

BMO Branch – Dundas Location
81 King Street West
Hamilton, ON
L9H 1T5
Branch Manager – Niloofar Heidari Beni
E-mail: Niloofar.HeidariBeni@bmo.com
Phone : 905-628-2284

BMO Branch – Hamilton Main
50 Bay Street South
Hamilton, ON
L8P 4V9
Branch Manager: Rita Vetresnco
E-mail: rita.ventrescasantini@bmo.com
Phone: 905-526-7463

For more information, visit Professional Student Line of Credit – BMO Canada or talk to a BMO employee at any BMO DeGroote designated Branch.

Note: DeGroote does not play any role in determining loan eligibility.

Payments to your student account are intended specifically to cover all outstanding charges directly associated with your education at McMaster University. Your student account should not be utilized as an intermediary for transferring funds. By adhering to this policy, we ensure the proper allocation of funds and maintain transparency in financial transactions. Refunds related to payments originally received through private lender must be returned to the lender by the student. The student is responsible for any foreign exchange transaction costs related to the borrowed amount. Learn more.

DeGroote does not guarantee, co-sign, or endorse any of these specific programs of funding. Any students engaging with third-party lenders must follow McMaster University’s Third-Party Sponsorships policy.

*Terms and conditions apply

OSAP

Unfortunately, the Blended Learning Part-Time program is not eligible for OSAP.