Scotiabank has entered the student loan sector.
The bank on Thursday announced the launch of the Scotia Professional Student Plan to provide financing to persons pursuing a professional degree.
The plan begins with a pilot for medical students and offers up to US$155,000 in funding over the five years of study.
The non-revolving loan covers the entire cost of the programme of study and will provide up to 100% financing for students from year two to the fifth year of their course of study, and 80% for those beginning the course.
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