Is it possible to get an education loan for MS in Canada without collateral?

Question

Hey students! Does someone here know if it is possible to get an education loan for MS in Canada without collateral? Please explain the eligibility criteria in detail. #MS  #EducationLoan

Anushka Mendjoge · Answer

Hello Varun!

Your eligibility to obtain an education loan depends on a lot of factors which differ from bank to bank. Having said that, your 'loan requirement' will be an important deciding factor when it comes to loans with or without collateral.
If you have already received admits and have finalized a university, please calculate your anticipated living expenses and the cost of attending the university to get a rough idea of your minimum loan requirement. Universities generally do give you an estimate of the cost that includes tuition fees, health insurance, book supplies cost, etc. They also sometimes give a rough figure for living expenses (on-campus).
This is an article that should address all your queries:
https://yocket.com/blog/education-loan-for-abroad-studies-without-collateral
Good luck!