How to Get a Student Loan for International Students in Canada
According to The Canadian Bureau for International Education, 642,480 international students studied in Canada in 2019. This represents a 185% increase since 2010. Canada is the 4th most popular destination for international students, behind the USA, the UK, and China.
Why is Canada such a popular destination for international students?
The high quality of the Canadian education system
Canada is one of the leading first-world countries known for its academic success, its economic abundance and high standard of living. Because of this, their educational system gets great reviews and that’s what international students are looking for. Canadian schools are equipped with the latest equipment and with proper resources required to get the best educational experience possible.
Canada has a reputation as a tolerant and non-discriminatory society
Canada is best known for being one of the most tolerant countries when it comes to skin color and nationality. This makes it a prime destination for international students who wish to avoid the risk of encountering racism or xenophobia.
Canada has a reputation as a safe country
The crime rate is minimal in Canada because of its strict security and adherence to the law. Canadians are also naturally peace and law-abiding citizens, making it a great country to study in. No need to worry about distractions and potential safety hazards because its authorities are working round the clock to provide and maintain a safe and secure place conducive for studying.
Talking about stats…
96% of international students recommend Canada as a study destination, while 60% say that they plan to apply for permanent residence in Canada. This is one of the top reasons why they want to apply for a student loan in Canada over any other country.
Who are the international students in Canada?
In terms of student numbers, the nationalities with the largest representation of students in Canada are China (with around 22% of the market) and India (with around 34% of the market). US students represent only around 2% of all international students in Canada.
Where are the international students studying?
Across Canada, the province with the largest number of international students is Ontario (48% of international students) with the next most populous provinces being British Columbia (23%) and Quebec (14%).
Funding for International Students in Canada
IEFA.org can connect students with education loan providers where they can access private loans without cosigners, collateral, or credit history. These education loans are available to students from 190+ countries pursuing degrees in any academic field. They are perfect to help cover the cost of your studies in Canada.
International student loans are made available to international and DACA students studying in the USA and Canada. Undergraduate and graduate students within two years of graduating are eligible.
These loans can be used for past, current, and future semesters, and you can use the funds to pay for expenses including tuition fees, living expenses, accommodation, food, insurance, and books.
The Benefits of an International Student Loan in Canada
- For this type of loan, you don’t need a cosigner, collateral, or credit history
- You can apply for an education loan with a fixed interest rate from $2,001 to $50,000 – making budgeting easier and stress-free Students from over 190 countries can apply
- 10-year loans with no prepayment penalties
- Interest-only payment period during school and 6-months post-graduation
- Undergraduate and graduate students within two years of graduating are eligible
- Loans are available to students attending one of the 300+ schools in the USA and Canada
How does the loan process work?
- Check to see if your school and program are eligible.
- Complete your application.
- Receive a conditional offer after submitting your application.
- Upload your requested documents and complete any further required paperwork.
- Receive a final approval after all of your uploaded documents are verified.
- Your school certifies your enrollment status with the loan provider. Once that is done, your funding is disbursed directly to your school on an agreed upon date.
How much will the loan cost?
Please note that the total cost in every case is different, but here is an example for informative use only – this is not a guarantee of costs for your individual circumstances.
An international (non-US, non-Canadian) student studying a Master’s-level program borrowing $10,000 USD would expect to repay $100.54 per month during their studies and for 6 months after their expected graduation date, and then $141.62 per month thereafter.
Find out more and apply for your International Student Loan in Canada today.
More on Loans That Do Not Require a Cosigner in the US and Canada
10 things you need to know about international student loans
Canada: Scholarships for International Students
Other useful posts:
120 Comments
Join the conversation
Find My Student Loan
Find a Loan
Recent Posts
- Getting an MBA for international students in the U.S.
- The benefits of international students
- Unlock a world of education with affordable study abroad programs
- Finance for studying abroad: What you need to know
- Finding financial aid: Your guide to scholarships, grants and student loans for international students
Recent Comments
Archives
- December 2024
- November 2024
- March 2024
- January 2024
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- December 2019
- November 2019
- October 2019
- September 2019
- August 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- November 2018
- October 2018
- September 2018
- July 2018
- May 2018
- March 2018
- January 2018
- December 2017
- November 2017
- October 2017
- August 2017
- July 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
- June 2016
- May 2016
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- August 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- August 2010
- May 2010
- April 2010
- March 2010
- January 2010
- November 2009
- September 2009
- August 2009
- July 2009
- January 2009
- November 2008
- September 2008
- August 2008
- July 2008
- April 2008
- February 2008
- January 2008
- November 2007
- October 2007
- September 2007
- July 2007
- May 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- July 2006
- June 2006
Categories
- Budgeting Tips for International Students
- Credit Cards
- Financial Aid
- Health Insurance
- International Education
- International Financial Aid News
- International Scholarships
- International student loan refinancing
- International Student Loans
- Off campus employment
- Scholarships
- Study Abroad
- Study Abroad Loans
- Study in Canada
- Study in Germany
- Study in Spain
- Study in the UK
- Study in the USA
- Uncategorized
- Work in the USA
Help me please
I want to study in canada
Hi there.
Have you tried applying for a scholarship yet?
To browse the scholarships available, please visit our website. There, you can view scholarships that you might be eligible for by browsing our awards or using our quick search tool, which will narrow down the scholarships based on what you are studying, where you are studying, or where you are from. https://www.iefa.org/scholarships
Once you find a scholarship you are eligible for or interested in, you must contact the institution responsible for the scholarship directly. They can assist you with the application process and any questions.
Best of luck with your application
– The IEFA Team
Help me please
Hi there.
Congratulations on your admission!
To browse the scholarships available, please visit our website. There, you can view scholarships that you might be eligible for by browsing our awards or using our quick search tool, which will narrow down the scholarships based on what you are studying, where you are studying, or where you are from. https://www.iefa.org/scholarships
Once you find a scholarship you are eligible for or interested in, you must contact the institution responsible for the scholarship directly. They can assist you with the application process and any questions.
Best of luck with your application
– The IEFA Team
Am from kenya, and aspiring student to study piloting in C.F.C aero, i have already applied for school and they have replied me, but there is the application fee which i need to get admmition full letter, what will i do to get the amount, please guide me, thankyou.
Hi there!
You can access additional financial aid information and resources, including loan details, by visiting our website. There, you will find comprehensive information on various financial aid options. https://www.iefa.org/international-student-loans
Best of luck with your application
– The IEFA Team
hello my name is kabir live in afghanistan how can i get scholership
Hi,
Thank you for your comment!
We recommend exploring various scholarship and financial aid options that might be available to you. Our scholarship search tool can be a great resource. You can access it here: https://www.iefa.org/scholarships.
Additionally, for more comprehensive information on financial aid options, including loans and other forms of assistance, please visit our resources page here: https://www.iefa.org/international-student-loans
Remember, each scholarship or financial aid program will have its own application process and requirements, so be sure to contact the relevant organizations directly for guidance.
Best of luck with your studies, and keep pursuing your dreams!
– The IEFA Team
I’m Abdul from Liberia, I have applied to a school and they have accepted me but how can I get a student loan?
Hi,
Thank you for your comment!
We recommend exploring various financial aid options available to you. For more comprehensive information on financial aid options, including loans and other forms of assistance, please visit our resources page here: https://www.iefa.org/international-student-loans
Remember, each scholarship or financial aid program will have its own application process and requirements, so be sure to contact the relevant organizations directly for guidance.
Best of luck with your studies, and keep pursuing your dreams!
– The IEFA Team
Hello, I hope you are well. I am asking you for assistance and a helping hand. I am a Yemeni citizen. My name is Muhammad Yaqoub. My country is Yemen. Who did not provide a decent life for the weak. Here I no longer have anything, nor a shelter, nor a decent life. I am asking for your help. First time ordering. lhave. My situation has become bad. I lost all my support because of the war in my country. Because I became homeless in my country, and I did not receive any help from my country, and I did not even get a job in my country, and my condition has become bad, and because I still live alone, I am homeless. I hope for your financial assistance and assistance in getting me out of my country, which is no longer fit for living. I ask you for help for the first time. Once. I hope my application will not be rejected. I need a doctor’s referral to verify my health. I do not have anything. I hope you will give me help so that I can live because I have nothing left. I don’t speak English, but I use translation software. I hope you will contact me and I will document everything. This is my phone ????????????number 00967711129985
Hi,
Thank you for your comment!
We recommend exploring various scholarship and financial aid options that might be available to you. Our scholarship search tool can be a great resource. You can access it here: https://www.iefa.org/scholarships.
Additionally, for more comprehensive information on financial aid options, including loans and other forms of assistance, please visit our resources page here: https://www.iefa.org/international-student-loans
Remember, each scholarship or financial aid program will have its own application process and requirements, so be sure to contact the relevant organizations directly for guidance.
Best of luck with your studies, and keep pursuing your dreams!
– The IEFA team