CIBC - Your Financial Guidebook

1.6 million young Canadians aged 18-24 years attended post-secondary school in 2001/2002.
University tuition has gone up 135% in the last 10 years.
In 2001/2002, 26% of students had government student loans, 16% borrowed from parents and 14% used a bank line of credit.
The median amount spent by university and college students for an academic year was $9,740; a full-time Canadian university student forks over more than $11,000 to get through an eight-month academic year.
The median educational expenditure is $3,100/year for college students and $5,000/year for university students. This includes tuition, fees, books and supplies.
The average student debt sits at $19,000 after four years of study.

1 Source: 2002 Education, Skills and Learning Research by Statistics Canada.

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 next year. 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.2 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. For more details, visit your local CIBC branch or check out www.cibc.com/studentlife. 2 CIBC Education Line of Credit applicants must meet CIBC standard credit criteria. Credit limit depends on credit position.

	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 transactions1 and no monthly fee on the CIBC Everyday® Chequing Account. 1 "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. ® Registered trade-mark of CIBC. 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.† 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. Visit your local CIBC branch or www.cibc.com/studentlife for more information. † Additional fees will apply on withdrawals at bank machines not displaying the CIBC name or Logo.

	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†, 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. For more information on applying, visit www.cibc.com/studentlife, call 1-800-465-CIBC (2422) or stop by your local CIBC branch. * A Int./CIBC Lic. user. † This is the current rate as of October 2004. The rate will change with at least 30 days prior notice.

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For more information, visit www.cibc.com/studentlife.