Student loans are among the most frequently asked questions by applicants to study in Canada. They want to know if international students can get Canadian student loans. This article provides information about Canadian student loans for international students interested in studying in this country. So stay with us until the end.
Canada Student Loans for International Students
In general, many international students lack funds when immigrating to Canada. Still, the good news is that those international students who have been admitted to a university in Canada can use student loans, But only loans whose resources are provided by the private sector or banks Because government-backed loans are only for Canadian citizens.
International students need guarantors to get Canadian student loans from banks, But in case of studying in some selected educational institutions, there will be no need to have a guarantor. This page shows the list of selected Canadian universities and institutes. It should be noted that student loans will cover expenses such as tuition, housing, food, insurance, educational resources and books.
When examining the application of international students to receive loans, banks also pay attention to factors such as the student’s educational and employment status. Therefore, only the history of their bank account or guarantor will not be necessary. In addition, in this process, banks may pay attention to other factors such as the country of origin, the graduation time of students, and the university where they study. Another point is that if the student’s application is accepted, the loan will be paid to them about six weeks later.
How to get a Canadian student loan
For international students who want to get acquainted with the available and suitable student loans, it is better to go to the Find your International Student Loan page, find the right loan, and apply for it online. The loan amount will be deposited directly to their college and university if their application is accepted. As we said earlier, students will not need a guarantor in this case. Ultimately, it is good to know that a loan is not like a scholarship and fund and must be repaid. So, consider this issue before deciding to get a Canadian student loan.