Everything You Need to Know About Indian Banks' Education Loans for Studying in Canada

 


Due to the ongoing political tension between India and Canada over the past month, Indian banks and financial institutions had temporarily ceased sanctioning and disbursing loans for students heading to Canada for higher education. However, as of October 18th, the situation has taken a complete turn, with banks and financial institutions now actively issuing education loans for students planning to study in Canada. This presents a unique opportunity for any student interested in pursuing post-graduate studies in Canada, as these financial institutions are eager to provide loans, given the lack of business in the past 45 days. Additionally, the visa approval rate is currently exceptionally high, exceeding 90%. Therefore, this is the perfect time for students considering studying in Canada to initiate their application process.

The sudden shift in the situation can be attributed to the improved diplomatic relations and the resumption of financial services for students. The Indian government and Canadian authorities have worked to resolve the political concerns, which has led to a positive environment for Indian students wishing to study in Canada.

Moreover, it's worth noting that the Canadian government has been issuing more visas to Indian students than in previous years. Data from "Canada Immigration Statistics 2023" reveals a significant increase in the number of Indian students receiving visas. In 2015, they represented 14.6% of all student visas issued, while by 2023, this figure had risen to 40%. This surge in Indian students studying in Canada can be attributed to various factors, including the Post-Graduation Work Permit (PGWP) Extension program introduced in April 2023, which allows international students to stay in Canada for an additional three years after graduation.

In addition, Indian students have made a substantial economic contribution to Canada, bringing in approximately $10 billion CAD annually. This economic impact has been a driving force behind resolving political concerns between the two nations, as highlighted in recent research.

It's advisable for students interested in studying in Canada to make the most of this opportune moment, given the availability of loans and high visa approval rates. For assistance throughout the application process, students can reach out to The Overseas Consultants, Popularly known as TOC, 

Director: Vinit Kejriwal

Email: info@theoverseasconsultant.com

Mobile No: 9321451386

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