application for scotialine personal line of credit for students - Scotiabank

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TERMS & CONDITIONS

By submitting this application, you affirm that you are a Canadian citizen or Permanent Resident; the Student Co-Borrower is attending a post-secondary school; you will provide proof of enrollment and any other information we may require; and the information you have given us is true and complete. If you do not qualify for the credit limit you have applied for, you agree that the application is for the credit limit for which you do qualify.

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If your application is approved, you agree to abide by the Agreements which govern the ScotiaLine personal line of credit for students, the No-Fee Scotia Moneyback VISA card (if applicable) and the Student Banking Advantage Plan (if applicable), as well as the Scotiabank Group Privacy Agreement, copies of which will be provided to you and can be obtained at any Scotiabank branch or online at www.scotiabank.com. We may collect from, and use and disclose certain personal information to, any person or organization for the following purposes: to confirm your identity; to understand your needs; to determine the suitability of our products and services for you; to determine your eligibility for our products and services; to set up, manage and offer products and services that meet your needs; to provide you with ongoing service; to meet our legal and regulatory requirements; to manage and assess our risks; to investigate and adjudicate insurance claims; and to prevent or detect fraud or criminal activity. You can tell us at any time to stop using information about you to market our products and services. We may ask for your Social Insurance Number to use in verifying and reporting credit information to credit bureaus and credit reporting agencies. You may refuse to consent to its use or disclosure for these purposes.

We will obtain a credit bureau report concerning the Student Borrower, the Parent/Guardian Borrower and the Supporting Borrower in connection with this application for credit.

When you apply for, or accept, a credit facility and during the course of the loan or credit facilitiy, we may use, give to, obtain, verify, share and exchange credit and other information about you with others including credit bureaus, mortgage insurers, creditor insurers, registries, other companies in the Scotiabank Group and other persons with whom you may have financial dealings, as well as any other person as may be permitted or required by law. You also authorize any person whom we contact in this regard to provide such information to us. We may use third party service providers to process or handle personal information on our behalf and to assist us with various services such as printing, mail distribution and marketing, and you acknowledge that we may release information about you to them. By choosing to provide us with your personal information, you are sending to its use in accordance with the principles set out in the Scotiabank Privacy Agreement, a copy of which may be viewed at any time at www.scotiabank.com.

Interest paid on the ScotiaLine personal line of credit for students is not tax deductible. The ScotiaLine personal line of credit for students Preferred Interest Rate as of September 9, 2010 starts at Prime + 2.00%, subject to change. The interest rate floats with Prime. Prime refers to the prime lending rate of The Bank of Nova Scotia. Prime as of September 9, 2010 was 3.00% and is subject to change without notice.

If you have indicated that you have received or have been approved for a government student loan for this academic year or previous academic years, please note the total estimated amount of government student loan(s) will be subtracted from the credit limit you may qualify for on your ScotiaLine personal line of credit for students.

The limitation period for this agreement is extended to the greater of six years (3 years in Quebec) or any longer period permitted by provincial or territorial law.

You have asked us that this agreement and all related documents be in English only. Vous avez demandé que ce contrat et tous les documents qui s’y rattachent soient rédigés uniquement en anglais.

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Please fully complete all of the questions on this application and use dark ink when completing. If there are unanswered questions there may be a delay in processing your application.

Each borrower is entitled to receive separate agreements and cost of borrowing disclosure documents related to the account. By signing this application, you consent to all agreements and cost of borrowing disclosures related to the account being sent only once to the address of the primary borrower, rather than separate documents also being sent to you at your address that appears in our records. This includes the initial disclosure statement and credit agreement, as well as all subsequent periodic statements, agreements, disclosure or other notices related to the account. You acknowledge that you have been advised of your ability to receive separate disclosure and have declined. You agree that we may rely on this consent through all subsequent extensions, renewals and amendments related to the account, until such time as you give us notice in writing that you wish to change your disclosure preference. You may change your disclosure preference at any time in the future by contacting your Scotiabank branch. Alternatively, if you do not consent to all documentation being provided only once to the address of the primary borrower, and wish to receive separate disclosure, please indicate by checking the box below. I (Student Borrower - Secondary), wish to receive separate disclosure related to the ScotiaLine personal line of credit for students account, at the address I have provided on this application Yes I (Student Borrower - Secondary), wish to receive separate disclosure related to the No-Fee Scotia Moneyback® VISA account, at the address I have provided on this application

Yes

Student Borrower (Secondary) Signature _______________________________________________________________________________________

Date ________________________________________________

I (Supporting Borrower - Co-Signor), wish to receive separate disclosure related to the ScotiaLine personal line of credit for students account, at the address I have provided on this application Yes Supporting Borrower (Co-Signor) Signature

_______________________________________________________________________________________

Date ________________________________________________

I/We, the named account holder(s), have read and agree to the Terms and Conditions of applying for a ScotiaLine® personal line of credit for students attached to this application and the Application Disclosure Statement for the credit card (applicable if the credit card is selected below). Parent/Spouse/Guardian Borrower (Primary) Signature __________________________________________________________________________________________

Date ________________________________________________

Which Scotiabank branch would you prefer to deal with? ________________________________________ Transit # ___________________ You prefer to correspond in English French

Do you currently deal with Scotiabank?

Yes No

If Yes, what is your ScotiaCard Number? ____________________________________________________________________

You can complete this application and fax it to us at 1-800 -403-7448; or fold, seal and mail it to us; or simply drop it off at any Scotiabank branch.

To mail, fold in half along yellow dotted line, moisten glue and seal.


Please indicate the amount you require over the duration of your education: ScotiaLine® personal line of credit for students $ ___________________________ (eg. $40,000 for a 4-year Bachelor’s Degree program) No-Fee Scotia Moneyback® VISA* card with up to 1% Moneyback reward (check appropriate credit limit)

$3,000

$2,000

$1,000

How did you hear about our ScotiaLine personal line of credit for students?

Parent Friend Studentawards.com Guidance Counselor Financial Aid Administrator Other

STUDENT BORROWER – SECONDARY Mr Miss Mrs Ms Dr

Last Name, First Name & Initial

Street #

Street Name

Apt #

Date of Birth (YY/MM/DD)

Postal Code

City

Prov.

Current Employer

Employer’s full address

Current Occupation

Full-time Self-employed Part-time Seasonal

Monthly housing costs (rent/mortgage, condo fees, heat, property taxes) $

Social Insurance # (optional)

Years at residence

Home phone # ( ) Business Phone # ( )

Gross Monthly Income $

Other monthly obligations (eg. spousal, child support)

Mother’s Maiden Name

Have you declared bankruptcy in the last 7 years? Yes No

Are you either a Canadian Citizen or Permanent Resident? Yes No

TELL US ABOUT YOUR STUDIES Name of post-secondary institution

Program name (eg. BA, BAH, MBA, MA, MSC, etc.) Full-time

Expected graduation date (year, month)

Part-time

Are you enrolled in a graduate program?

If you are currently in your 2nd or later year of study, have you received

How long is your program? (years, months) Is this school located in Canada? Yes No

If yes, what is the total amount of government loan(s) that you

any government student loans (federal or provincial) in the previous years? Yes No

have received (excluding any non repayable government bursaries)? $

Have you been approved for a government student loan

If yes, what is the total amount of government student loan(s) approved

(federal or provincial) in this academic year

for this academic year (excluding any non-repayable government bursaries)? $

Yes No

Street #

Street Name

Apt #

Current Employer

Postal Code


City

Prov.


Years at residence

Employer’s full address

Business Phone # ( )

Full-time Self-employed Part-time Seasonal

Current Occupation

Home phone # ( )


Monthly housing costs (rent/mortgage, condo fees, heat, property taxes)

Other monthly obligations (eg. spousal, child support)

$

$




SUPPORTING BORROWER (CO-SIGNOR) – IF REQUIRED TO SUPPORT THE APPLICATION Mr Miss Mrs Ms Dr

Spouse/supporting Borrower Last Name, First Name & Initial If no: Street #

Street Name

Apt #

Current Employer

Postal Code

City


Prov.

Years at residence

Employer’s full address Full-time Self-employed Part-time Seasonal

Current Occupation

Monthly housing costs (rent/mortgage, condo fees, heat, property taxes) $


Home phone # ( ) Business Phone # ( )


Other monthly obligations (eg. spousal, child support) $

Address same as Parent/Guardian Borrower above? Yes No




Will you be using this ScotiaLine personal line of credit for students on behalf of anyone other than the named account holder(s)? Yes No (You should answer “no” to this question if the account will only be used by the Student Borrower, Parent/Spouse/Guardian Borrower, or Supporting Borrower.) Yes, I am/We are under 56 and want to apply for Disability, Loss of Life and Health Crisis Protection. Single coverage

Joint coverage (both applicants must be under age 56)****

(06/09)



Mr Miss Mrs Ms Dr

Last Name, First Name & Initial

PARENT / SPOUSE / GUARDIAN BORROWER – PRIMARY

Page 1

APPLICATION FOR SCOTIALINE PERSONAL LINE OF CREDIT FOR STUDENTS

Fold, moisten and seal To mail, fold in half along yellow dotted line, moisten glue and seal.

To mail, fold in half along yellow dotted line, moisten glue and seal. Fold, moisten and seal

Tear across this line Fold, moisten and seal

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INSURANCE

You understand that if you have applied and are approved for Line of Credit Protection, you authorize Scotiabank to collect your insurance premiums (and sales tax if applicable) by charging it to your ScotiaLine account. If your co-Borrower is applying for Line of Credit Protection, it is your responsibility to ensure the co-Borrower has given consent to collect insurance premiums on their behalf. The coverage is subject to exclusions and restrictions.

Details of your coverage will be provided in the Distribution Guide(s) that Scotiabank will send you. Your insurance becomes effective on the date your application is received by Scotiabank. You receive a 10-day free look period to review the details of a plan at no cost or obligation to you. Line of Credit Protection for Loss of Life or Health Crisis is provided by Canada Life Assurance Company of Canada and Disability Protection is provided by Sun Life Assurance Company of Canada under their group policies issued to Scotiabank.

The maximum coverage for any one of your Loss of Life/Health Crisis Protection insured line of credit accounts is $150,000 and $300,000 for all of your insured Lines of Credit combined. For Disability Protection, the maximum coverage for any one of your insured line of credit accounts is $100,000 and the maximum monthly benefit is $3,000.

If you decline insurance coverage, you acknowledge you have been given the opportunity to buy Protection and have decided not to take advantage of the offer.

IMPORTANT VISA DISCLOSURE INFORMATION

If this application includes a request for a No-Fee Scotia Moneyback® VISA* card, a card will only be issued to the Student Borrower even though the Parent/Guardian Borrower agrees to be jointly and severally liable for the card with the Student Borrower and to be bound by the terms of the Agreements which govern the card.

For program details, please consult the Moneyback ® Terms and Conditions at www.scotiabank.com. Your Moneyback ® reward rebate will be credited to your account every year on your July statement. The Moneyback ® reward is tiered: on the first $1,500 of Annual Net Eligible Purchases, the % Moneyback ® reward is 0.25%; on the next $1,500, the % Moneyback ® reward is 0.50%; and on any amount over $3,000, the % Moneyback ® reward is 1%. † Purchase returns, VISA payments, cash advances, fee and service charges do not qualify for cashback.

The information on this disclosure statement is subject to change in accordance with the Scotiabank VISA Revolving Credit Agreement. For current rates and information on fees and interest costs, call 1 888 882-8958.

ADDITIONAL DAY-TO-DAY BANKING ACCOUNT (STUDENT BANKING ADVANTAGE PLAN) TERMS & CONDITIONS

If this application includes a request to open a Student Banking Advantage Plan, you agree to the following additional terms and conditions that govern this plan.

If you're attending a university, community college, or another recognized post-secondary school in Canada, you can take advantage of this reduced-fees plan. This plan is available only for full-time students registered in a course for credit. To take advantage of the Student Banking Advantage plan account benefits, you will need to visit your branch each calendar year prior to October 31 and present proof that you are enrolled full-time in a post-secondary school. When you are no longer enrolled full-time in school, or you have not presented proof of full-time post-secondary school enrollment, your Student Banking Advantage plan will be removed and your account will automatically be converted to a Powerchequing account.

Please refer to the Day-to-Day banking companion booklet to obtain further details on the Student Banking Advantage Plan and the Deposit Account Agreement.