Education Loan For Canada: GIC Expenses Details

Education Loan For Canada: GIC Expenses Details


Event Description

Welcome to the viewing of the eighth episode of Loanflix Inshorts. This episode will reveal to you whether an education loan Canada caters for GIC account expenses.

Loanflix InShorts is a series of really small duration, three-minute episodes which cover some of the basic, common terms involved in the abroad education loan process. The major aim behind introducing Loanflix InShorts is to provide knowledge of the education loan process at a deeper level, thus enabling you to have a hassle-free experience.

Canada is well known for housing some of the most well-ranked universities in the globe. It is a dream destination for higher education, especially for Indian students due to its flexible policies on education and immigration. A major percentage of such students opt to fund their higher studies with the help of a Canada education loan in India. One doubt which bothers students who have borrowed an education loan for Canada is how a study loan for Canada in India caters for GIC expenses. This episode of Inshorts sheds light on this very topic. 

What is GIC? What is its significance in the process for a  Canada education loan in India? 

If you have already applied to universities in Canada, you must be well aware of GIC and its provisions. The first part of the video will provide answers to various questions related to the significance of GIC and its provisions and how an education loan for Canada in India caters to it.

Will a Study loan for Canada in India provided by banks cover your expenses to purchase a   GIC account? 

This is a common question asked by a lot of students who apply for an education loan for Canada in India. The second part of the episode will shed light on certain provisions of a typical scheme of study loan for Canada. For example, did you know that in order to apply for a student visa, applicants must deposit their total living expenses for MS in Canada and submit proof of the same? Know all about how the Canadian government has made provisions for migrant students to prepare a funding source in order to take care of their total living expenses for MS in Canada.


What are some of the major problems faced by students while applying for an education loan for Canada? 

In this part of the episode, you will get to learn about some of the major hurdles in the process of getting certain portions of an education loan for Canada. For example, if you are funding your higher studies with the help of an education loan for MS in Canada, you are required to withdraw your living expenses way in advance of your visa application process. Know all about the possible hurdles you could face in the entire process, in this part of the episode.

Solution to the hurdles faced by students while applying for a Canada education loan

What is the role of the services offered by WeMakeScholars for students who are finding it difficult to get a pre visa disbursement approved? Get to know all about it in this part of the episode.

The episode comes to a conclusion with the discussion of the above point. The process of getting a study loan for Canada may seem to be overwhelming and tedious, unless and until aspirants don’t educate themselves on the various provisions of the same. Do stay tuned for the next episode which will highlight how an abroad education loan caters for the expenses to be deposited in a blocked account to study in Germany.


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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