Canada Education Loan: GIC & Process in detail

Canada Education Loan: GIC & Process in detail


Event Description

Hi, Welcome to the much awaited 18th episode of Loanflix. This is perhaps, the most awaited episode, as it will give you detailed information on the steps to be taken, documents and other details about the Canada education loan process. This 18th episode is solely dedicated to information on the same. Be it higher studies or higher education, Canada is the preferred country of many Indian students. Many students had requested us to make a video on the same topic and the much awaited moment is finally here. Here’s a glimpse of what students can expect to find in this 18th episode of Loanflix.


Loanflix is the most comprehensive web-series on abroad education loans. The motive is to empower students and their guardians so that they can take an informed decision about the education loan.

Following are some of the major talking points in this episode of Loanflix.

What kinds of loans are possible for a Canada education loan?

As you all might be well aware that there are two types of education loans available. Despite this knowledge, many students are still confused about the same. In this part of episode 18, our speaker, Damini Mahajan gives you detailed information on the type of loans generally preferred by universities/colleges, whether there is any preference at all, etc.

At what stage of the Canada education loan process is the loan sanction required?

The information being relayed in this part of the episode is perhaps going to be the most awaited by students who plan on borrowing a Canada education loan. Questions like, What is the exact procedure of applying for an education loan for Canada? Are there different stages involved in the same? What steps does a student need to take before going for their visa interview at the embassy? Etc, are answered in this part of the 18th episode.

Visa requirements for the Canada education loan.

What actions should a student take in order to undergo a visa process successfully? How much in advance should students plan for one? If these questions are worrying you, then stop. Damini will tell you all about the mentioned points in this part of the 18th episode.

What is GIC and How is it done?

All of you watching this video might be aware of GIC being an important part of the Canada education loan process. But why is it important? What role does it play in the process? How much money is to be deposited in this account? These questions and many more are addressed by Damini in this part of the episode.

How to Include GIC amount in the loan?

This is the most frequently asked question by our viewers. Know all about whether a student gets to include the GIC amount in the education loan for Canada or not, by watching this part of the episode.

Fulfilling embassy requirements through an education loan.

How much is a student expected to pay in order to purchase a GIC account? Do banks approve pre-visa disbursement? Who issues these documents faster? Banks or NBFCs? These questions are addressed by Damini in this part of the video.

When should you apply for a Canada education loan?

In an education loan process, time is of ultimate importance. Hence, it is also essential to know when to apply for this education loan. Damini tells you all about it in this part of the 18th episode.


Most students decide to borrow an education loan when they decide on studying abroad. There are many students who missed out on their admission dates just because they were relayed the wrong kind of information by their bank officials. Our aim is to empower each student who is aspiring to study abroad with knowledge about how education loans work so the next time, they would know who to approach in case if anything goes wrong with their loan application process. Next up, in our next episode, we will be telling you all about the education loan procedure to be followed for an education loan for Australia. Till then, keep checking out this part of our website for updates.

Date And Time

Timezone : (GMT+05:30) Chennai

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Damini Mahajan

Damini Mahajan
CoFounder & CEO, WeMakeScholars 

Damini is the Cofounder & CEO of It’s a BITS start up supported and funded under the IT Ministry, Govt. of India. The organisation’s motive is to offer unbiased collateral/non-collateral based education loan support to students who are planning for studying abroad. As this initiative is under the digital India campaign, it's at free of cost. WMS works with 14+ banks (public/pvt) in India and help you get the best edu loan matching your profile.

Prior to launching WeMakeScholars, Damini had done her masters from the University of Sheffield, UK. Her education was funded under the Developing Solutions Masters Scholarship which covered her full tuition fee ($ 38,000). Damini is also a gold medalist in her Bachelors and also won the outstanding student award from the Vice president of India. 

She was the speaker at TiECon 2016 at Silicon valley, San Francisco in the social entrepreneurship segment. She was also covered in the Asian Entrepreneur magazine in the “Women on Top in Tech”, a global series of Women Founders, CEOs & Leaders in Tech. 

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