Your ticket to getting the career—and the lifestyle—you want.
Step into your future
Immediate, reusable access to your full approved amount. You can start your apprentice training today, without worrying about the future.
Keep your student perks
Nothing changes after you graduate. Keep your line of credit at the same low interest rate, even after you start earning industry wages.
Repay on your terms
Make the minimum monthly interest payment or pay more—up to the entire balance. There's no repayment deadline and no fixed term.
Frequently Asked Questions
- You must provide a guaranteed letter of employment or a letter from your Union.
- The letter from your employer acts as the Confirmation of Income.
- The letter must state the previous income earned instead of the current income.
- Minimum FICO score of 620
- You must also provide Confirmation of Enrollment. Refer to confirmation requirements section below.
- You must be enrolled in a regulated trade or optional certification trade as an apprentice. Refer to Regulated Trades and Optional Certification Trade for more information.
Any technical school or college listed on the Government of Canada's List of Designated Institutions that is located in Alberta. Institutions outside of the province do not qualify for the ALLOC.
ALLOC Confirmation Requirements
- Applicants must provide verification of enrollment from one of the following:
- Receipt of payment of tuition
- Letter of acceptance from a qualifying post-secondary educational institution
- Letter from the Union
- Legible copy of applicant's time table, indicating the applicant's name, name of school and dates of the term
- Verification of enrollment can be accepted in the following formats:
- Original copy
- Faxed or scanned copy
- Legible picture of acceptable proof of enrolment taken with a smart phone or camera
Yes, and yes. You can get an ATB loan protection plan (life or disability) for this line of credit. With a loan protection plan, your interest rate could be as low as prime plus 2%—as opposed to prime plus 2.5% without loan protection.
You can access your line of credit through ATB Online, ATB Mobile and any ATB ABM.
Based on approved credit.
Related documents: Little Book of Personal Line of Credit