Canada has been showing strong signs during these tough economic times and our students are still heading to colleges and universities in droves. Just like most parts of the modern world, our education system isn't cheap and students have to manage their money like a hawk. Chances are you're more than likely to be getting a student credit card, and just about every Canadian bank has one. Let's take a look at some of your better options from the big name banks.

Interest rates are usually reasonable when it comes to student credit cards for Canadians. You're looking at 15-16% average interest rate these days without fees, but you can find some cards with low anual fees that will bring that rate way down. If you find that the interest rates are making it difficult to manage, or has in the past, consider a student line of credit from your local bank.

So I figured we could talk about the lowest interest credit cards for Canadian students first. Some of them require a paid annual fee to get you a much lower interest rate, but if you think about the long term this might be the best option. I know a lot of students tend to go with what will bring them the most rewards instantly, but think it out before makin a decision. Don't take my word fully either, it might be in your best interest to talk with your bank. That way you can ask the tough questions, and perhaps learn something you wouldn't from reading online.

Enviro Classic Visa For Students:
Interest Rate = 11.25%
Annual Fee: $25
Credit Card Type: VISA

The lowest interest rate I could find was with this card and it blows anyone else out of the water. There is a small annual fee of $25 which shouldn't be too much of a wallet buster. With every $2 you spend using your enviro Classic Visa card, you earn one My Visa Rewards Plus point redeemable for travel, merchandise, financial products, or charitable donations. Plus, earn double points when you book your travel through My Visa Rewards Plus using your enviro Visa.

Blue For Students Credit Card:
Interest Rate = 15.25%
Annual Fee: $0m!
Credit Card Type: AMEX

This card was an easy pick for the second best interest rate for a few reasons. One being the crazy low interest rate that doesn't require an annual fee of any sort. Don't let the name American Express fool ya, Canadians can apply for this credit card. The best feature about the Blue For Students is that for the first 6 months the interest rate is set at 8.90%!

VISA Desjardins d.plan for Students:
Interest Rate:18.4%
Annual Fee: $0
Credit Card Type: VISA

The VISA from Desjardins comes in at a few points higher in regards to the interest rate, but this card is packed with features you won't find on many others in Canada. You can choose between 3 different looks, you get cell phone insurance at no extra cost, travel and accident insurance, ticket reservation service, cash advances up to $2,500 anywhere in the world and better security than most cards.

Hopefully this will help you students get the lowest interest rate possible when they get their student credit card. Remember to ask your local bank to see what they offer because sometimes the smaller banks will have better deals. Make use of the online banking to keep track of your purchases, debts and security. Keep your budget in check and you'll survive the expensive process that is known only as the North American school system.