Loans for international students in Canada – cosigner not required!
June 25th, 2019 by Al C

Loans for international students in Canada - cosigner not required!

Loans for international students in Canada – a cosigner is not required.

The Canadian Bureau for International Education reports that over half a million international students studied in Canada in 2018. That’s more than a 150% increase in international students in Canada since 2010. As a result, Canada has overtaken France and Australia to become the 4th most popular destination for international students behind the USA, the UK, and China.

Loans for International Students in Canada without a Cosigner

Once international students have exhausted all other available sources of funding such as family support, personal savings, and financial aid from their school, they often need to turn to a student loan to cover any remaining costs of their studies.

This was very difficult to do until recently because of the lack of availability of loans to international students in Canada.

Now, International Student Loan allows international students to connect with loan providers where they can access loans without requiring any credit history, without needing any collateral, and even without a cosigner. These loans are available to students enrolled in Bachelor’s and Graduate degrees in any academic field from countries around the world at 300+ colleges and universities across the USA and Canada.

Students who will be graduating within two years – whether they are undergraduate or graduate students – are eligible to apply.

The Benefits Loans for International Students in Canada – without Cosigners

  • For this type of loan, you don’t need any credit history in the US or Canada, a cosigner, or any collateral
  • You can borrow from $2,001 to $50,000 with a fixed interest rate
  • Students from over 190 countries are eligible to apply for these loans
  • There is a 10-year repayment period and no prepayment penalties
  • During school and for 6-months after graduation there is a lower, interest-only payment period, making it more affordable at the time
  • These loans are available at over 300 schools across the USA and Canada. Undergraduate and graduate students who will be graduating within two years are eligible You can use the funds to pay for expenses including tuition fees, accommodation costs, food, student insurance, and books. They can be used for past, current, and future semesters.

How does the loan process work?

  • Check to see if your chosen school and program are eligible.
  • Complete your application online in just a few minutes.
  • Receive a conditional offer from the lender.
  • Upload documents the lender requires to complete your application.
  • The lender checks to make sure everything you have provided is in order, then sends you final approval of your loan.
  • The lender contacts your school to confirm your enrollment status. Once this is done, your funding is disbursed directly to your school.

How much will the loan cost?

Every case is different. This example is for informative use only. This is not a guarantee of costs as they will depend on your individual circumstances and the lender you work with.

An international (non-US, non-Canadian) student, studying a graduate-level program who borrows $10,000 US dollars can expect to repay $100.54 a month while they are studying and for the first 6 months after graduation. After this time the repayment would be $141.62 per month.

Why is Canada such a popular destination for international students?

  • The Canadian education system is internationally regarded as being of very high quality
  • Canada is considered a safe country with a tolerant and non-discriminatory society
  • 96% of international students recommend Canada as a study destination, and 60% of international students say that they plan to apply for permanent residence in Canada.

Who are the international students in Canada?

The nationalities with the largest populations of students in Canada are:

  • Chinese ( around 28% of all international students)
  • Indian (approximately 25%)

US students represent only around 3% of all international students in Canada.

Where are the international students in Canada studying?

The Canadian province with the largest number of international students is Ontario (with almost half of all international students). The next most populous provinces are British Columbia (a quarter) and Quebec (about one tenth).

Find out more and apply for your International Student Loan in Canada today.

More on Loans without a cosigner in the USA and Canada

How can an international student finance their education in the USA?

International Student Loans for Students from the UK

27 Comments

  1. David Darko Acheampong says:

    Yes I want to grant a loan to study in Canada.

  2. Senanile Georgia Ngwenya says:

    I would love to study in Canada for computer Science and I need a scholarship and help with the applications. Please help

  3. Fekadu genie says:

    How i can start the loan? Am from abroad is it possibl?

  4. vanessa says:

    i am already a holder of a bachelor’s degree in cameroon but i stll feel empty inside so i wish to study management in canada.

  5. francis says:

    J’aime

  6. James Akpofure says:

    i have previous education in the university of jos, Nigeria and i wish to apply for loan to study in Canada for a bachelor decree program, what is first step to take?

  7. Eric Mihigo says:

    I really love to study in Canada on scholarship!!
    And I also need your help!! Can you help me get
    A scholarship please??

  8. David Linn Nai says:

    I want to come to Canada for my Theological study, so how can I come to there ? Thank you

  9. Tchouar hiba says:

    Hi can I study médecine in Canada ????????
    And how much?

  10. Jeneba Bah says:

    Hi
    My name is Jeneba Bah, I am from Sierra Leone. Will it be possible for you to enroll me, if it will be possible I will be very greatful.

  11. sunday charles Dickens says:

    Also I request study loan to do master’s in nursing in Newbronswick universities

  12. Benet Graham says:

    I am Jamaican living in Jamaica. I applied to Pacific Coast Community College in Canada and was accepted. I.am seeking assistance to pay my college fee. Do l quality.?

    • Al C says:

      Unfortunately it doesn’t look like Pacific Coast Community College is on our list of approved schools for loans at this time. You might like to see if you can apply for any scholarships at http://www.iefa.org and contact the school directly for financial aid advice.

  13. Mohammed says:

    my name is Mohammed Abrahim from Ethiopia. I want to get international loan to study master degree in USA or Canada. I can’t pay for my study. I would be great full if grant me these opportunity.
    Thank you ,

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