dentyst05 said:
Hi,
I just became a P.R of canada, but I live in U.S., have never lived in Canada my question is am i eligible to take a loan from a bank in Canada to finance my IDP program here in U.S.?
Would be great if someone could help me with some info in this regards.
Thank you in advance,
Dentyst 05
hi dentyst05
congrats on your permanent residency for canada
I am a P.R in canada myself
I got admission in ucsf ,
Loans for your education is given by Federal and Provincial govts
Federal contribution is very limited and majority of school funding is given by provincial govt but for that you have to reside in that province for at least one year before you become eligible
secondly they only fund your education if you get into canadian schools
if you are studying outside canada , than you need to approach some banks who give a student line of credit
there are few banks like royal bank of canada who give a maximum of 150K in canadian dollars but you need to have a credit history in canada
other banks like scotiabank and bank of montreal will give you student line of credit if you produce a canadian citizen as a co-signor who has a good credit history
so it is quite difficult to secure loans from canada if you just got your permanent residency and you are studying outside canada
hope this information helps
good luck
