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Hey friends!

Incoming 1L here. I’m trying to negotiate a better contract for my student line of credit with scotiabank. I’m trying to extend the grace period to 2 years from 1 year after articling (so 36 months total) after graduation. I brought this up with my advisor but he said he’s never heard of that being offered and wants some form of proof? 
 

If anyone has that kind of contract, can you please comment or pm me? Thanks so much friends!

Edited by stillcryinboutkawhi

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I'm not sure how extending your grace period is a better deal. You still are charged interest during the grace period, so that's just an additional year of interest accruing on your loan.

Personally I have never heard of anyone extending their grace period.

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12 minutes ago, lawstudent20202020 said:

I'm not sure how extending your grace period is a better deal. You still are charged interest during the grace period, so that's just an additional year of interest accruing on your loan.

Personally I have never heard of anyone extending their grace period.

Yeah that’s true. I’m just thinking it would be less pressure , especially considering that the job market might be rocky then. But you have a point.

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6 hours ago, stillcryinboutkawhi said:

Hey friends!

Incoming 1L here. I’m trying to negotiate a better contract for my student line of credit with scotiabank. I’m trying to extend the grace period to 2 years from 1 year after articling (so 36 months total) after graduation. I brought this up with my advisor but he said he’s never heard of that being offered and wants some form of proof? 
 

If anyone has that kind of contract, can you please comment or pm me? Thanks so much friends!

I've worked for Scotiabank and two other major banks in Canada... I have never heard of grace period being extended. Is this something you read somewhere?

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On 7/29/2020 at 2:54 PM, stillcryinboutkawhi said:

Hey friends!

Incoming 1L here. I’m trying to negotiate a better contract for my student line of credit with scotiabank. I’m trying to extend the grace period to 2 years from 1 year after articling (so 36 months total) after graduation. I brought this up with my advisor but he said he’s never heard of that being offered and wants some form of proof? 
 

If anyone has that kind of contract, can you please comment or pm me? Thanks so much friends!

I can confirm that the current policy is 24 months grace period after articling for law students. This has been the case for quite a while now. You would also keep your bank account free during that time, it doesn't state that about the credit card fee waivers though still says 1 year across the board on those.

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