Fulfill your dream to study in top Study in the Canada universities with hassle-free loans covering tuition, living, and travel — at competitive rates.
Flexible and low interest options to suit your needs.
No security required for reputed universities.
Repay only when you start earning.
One-stop solution for all education-related costs.
30K+ Students Counselled
600+ Universities
Canada has grown rapidly as a global education destination; international student numbers increased from 122,665 to over 800,000 in just two decades.
Recently, Canadian immigration policies have undergone significant changes to balance student influx and labour demand. These updates have created more competition but also clearer pathways for those who choose high-demand programs and plan smartly.
With a strong economy, rising need for skilled professionals, and world-leading universities, Canada remains one of the most reliable, safe, and student-friendly study destinations. At PayStudy, we help Indian students navigate new rules confidently, secure funding, and build a strong financial and visa-ready profile.
Submit your profile and loan requirements through our simple online form.
Receive loan offers matched to your profile from top partners.
We help gather and verify all your required documents quickly.
Our experts handle coordination with banks/NBFCs for fast sanction.
Funds are sent directly to the university or your account as needed.
Students aiming for high-employability programs gain an advantage, especially under new regulations.
| Factor | Details |
|---|---|
| Annual Tuition Cost | INR 9–22 Lakhs (varies by course & university) |
| Living Cost | INR 6.5–12 Lakhs/year |
| Funding Options | Education loans, scholarships, part-time jobs, family savings |
| Intakes | September (Primary), January, May |
| Visa Type | Study Permit |
| Major Cities | Toronto, Vancouver, Montreal, Calgary |
| Visa Fee | ~INR 9,200 |
| University | Entry Requirements | Popular Fields |
|---|---|---|
| University of Toronto | GPA ~3.6, IELTS/TOEFL, GRE/GMAT (course-dependent) | CS, Medicine, Engineering, Finance |
| McGill University | GPA ~3.2+, IELTS/TOEFL, GMAT/GRE for some | Engineering, Neuroscience, Law, Data Science |
| McMaster University | GPA ~3.0+, IELTS/TOEFL, GMAT/GRE if required | Health Sciences, Analytics, Engineering |
| University of Ottawa | GPA 3.0+, IELTS/TOEFL, GMAT/GRE (course-based) | Law, Political Science, Business |
| Simon Fraser University | GPA 2.5–3.0+, IELTS/TOEFL | Computing Science, Business, Criminology |
Age: 18 or above for higher education programs.
Academic Score: Strong Class 12 scores or recognized bachelor's degree. Competitive programs may expect 70%+
Entrance Exams: GRE/GMAT required for certain postgraduate and MBA programs.
English Language Proof: Accepted tests: IELTS, TOEFL, PTE (university-wise requirement varies)
You will need:
Start preparation at least 10–12 months in advance to avoid delays.
| Expense Type | Approx Cost |
|---|---|
| Tuition Fees | CAD 20,000–45,000/year |
| Living Expenses | CAD 10,000–15,000/year |
| Health Insurance | CAD 600–900 |
| GIC (Mandatory) | CAD 10,000 |
| Study Permit Fee | CAD 150 |
| Biometrics | CAD 85 |
| Textbooks & Supplies | CAD 500–1,000 |
| Local Transport | CAD 600–1,200 |
| Miscellaneous | CAD 1,000–2,000 |
Planning tip: A mix of education loans + GIC helps strengthen financial proof for visa evaluations.
| Scholarship | Benefit | Type |
|---|---|---|
| Horowitz Foundation Grants | ~INR 8.3 Lakhs | Merit |
| President’s International Scholarship (UofT) | ~INR 27 Lakhs | Merit |
| University of Saskatchewan Graduate Award | ~INR 16–20 Lakhs | Merit & Leadership |
Students often gain internships and valuable early Canadian work experience.
Many students apply after gaining Canadian work experience under Express Entry or provincial programs.
PayStudy helps you with:
We simplify Canada study financing and guide you with clarity and confidence.
| Expense Category | Average Annual Cost (CAD) |
|---|---|
| Tuition Fees (UG/PG) | 25,000 – 40,000 |
| Living Expenses | 12,000 – 18,000 |
| Health Insurance | 800 – 1,200 |
| Travel & Miscellaneous | 1,000 – 2,000 |
Total average annual cost: CAD 35,000 – 55,000 (≈ ₹22 – 35 Lakhs).
Canadian study-visa regulations (SDS stream) require proof of funds for the first-year tuition and living expenses. This includes:
PayStudy helps students meet both requirements — education loan + GIC account setup — with guidance on sanctioned letter formats accepted by Canadian High Commission offices.
| Loan Type | Description | Collateral Requirement | Interest Range (p.a.) |
|---|---|---|---|
| Secured Loan | Backed by property, FD, or insurance as security. | Yes | 9.75% – 10.75% |
| Unsecured Loan | Based on co-applicant income and academic profile.. | No | 10.5% – 13% |
| Parameter | Requirement |
|---|---|
| Nationality | Indian citizen |
| Age | 18 years and above |
| Admission Status | Confirmed offer from Designated Learning Institution (DLI) |
| Course | Degree/Diploma (min. 8 months) |
| Co-Applicant | Parent/guardian with verifiable income source |
| Collateral | Only for secured loans |
| Credit Profile | Satisfactory CIBIL score (> 700 preferred) |
Most banks fund 100 % of tuition and up to 90 % of overall costs.
| Lender / Institution | Loan Type | Max Loan Amount | Interest Range (Approx.) | Special Notes |
|---|---|---|---|---|
| State Bank of India (SBI) | Secured | ₹1.5 Crore | 9.8 – 10.5% | Covers GIC and fee transfer together |
| Bank of BAroda (BOB) | Secured | ₹1.25 Crore | 9.85 – 10.75% | Lower margin money requirement (10%) |
| Union Bank of India (UBI) | Secured | ₹1.25 Crore | 10 – 10.75% | Pre-visa disbursement possible |
| ICICI Bank | Unsecured | ₹50 Lakhs | 10.75 – 12.5% | Fast sanction for SDS universities |
| Axis Bank | Unsecured | ₹50 Lakhs | 11 – 12.75% | Pre-visa disbursement available |
| Credila | Unsecured | ₹60 Lakhs | 11 – 13% | Custom EMI & PSI repayment options |
| Avanse / InCred Finance | Unsecured (NBFC) | ₹40 – 50 Lakhs | 11 – 13.5% | No collateral, faster processing |
| Prodigy FinancE | USD-based | USD 100,000 | 11 – 13% | No co-signer required |
| MPOWER Financing | USD-based | USD 100,000 | 12 – 14% | Ideal for SDS programs, no collateral |
| Lender | Tenure | Moratorium | Repayment Type |
|---|---|---|---|
| SBI / BOB / UBI | Up to 15 years | Course + 12 months | EMI or Simple Interest |
| ICICI / Axis | Up to 10 years | Course + 6 months | EMI or Partial Interest |
| HDFC Credila / Avanse | Up to 12 years | Course + 12 months | PSI / EMI |
| MPOWER / Prodigy | Up to 20 years | Course + 6 months | USD EMI |
Note: Early repayment is allowed without penalty for most banks after 6 months of EMI start.
A Guaranteed Investment Certificate is a requirement under the SDS (Student Direct Stream) program as proof of funds for living expenses.
Interest paid on education loans for Canadian studies qualifies for Section 80E tax deduction for 8 years.This applies only to loans from recognized banks and NBFCs.
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