Education Loans for UG Degrees, Diplomas, and Certificates in Canada

Indian students who want quality education abroad increasingly choose Canada thanks to cultural similarities between the countries as well as straightforward visa procedures. Canadian education offers both low expenses and exceptional academic institutions coupled with an extensive selection of educational programs to create an attractive study destination. We will examine education loan options that lead to success in obtaining UG degrees diplomas and certificate programs in Canada.

Why Choose Canada for Your Education?

Canada offers numerous advantages for international students, particularly Indian students looking for global exposure and quality education tailored to their aspirations:

Affordable Education:

1. Tuition Fees: Canadian education costs less for tuition than both US and UK universities. The tuition expenses for undergraduate Canadian programs start at CAD 15,000 and extend to CAD 35,000 annually according to program type and educational establishment. Compared to education in alternative international destinations the cost of higher education in Canada suits Indian students financially.
2. Living Expenses: Students need approximately CAD 10,000–12,000 (INR 6–8 lakhs) per year to cover their living expenses for accommodation food and transportation within Canada. The majority of Indian students discover that living in either shared rental properties or university housing proves economically advantageous.
   

Top Universities:

1. The University of Toronto along with McGill University and the University of British Columbia create a worldwide academic reputation based on research excellence and leadership in computer science and medicine as well as health sciences, law and environmental studies, and technology.
2. According to QS and Times Higher Education rankings, these educational institutions permanently maintain their position within the global top 100.
3. Universities in Canada offer students the best research labs and libraries together with multicultural campuses that promote networking opportunities between students.

Post-Study Work Opportunities:

1. Under Canada’s Post-Graduation Work Permit Program (PGWPP) international students receive authorization to work in Canada post-studies for three years.
2. International work experience in Canada through the PGWPP becomes particularly attractive to Indian students because it creates a valuable job market asset.

Also Read: 5 Reasons Why Canada Is the Best Place for Higher Education

Types of UG Programs in Canada: Duration and Overview

Program	Duration	Description
UG Degree	3-4 years	Comprehensive academic programs offering theoretical and practical knowledge.
UG Diploma	2 years	Skill-focused courses with a hands-on approach for industry-oriented roles.
UG Certificate	6 months to 1 year	Short-term programs designed for targeted skills enhancement.

 

Eligibility Criteria for Indian Students:

• Academic Requirements: To enroll in most top universities students require minimum scores ranging between 70% to 75% in their Class 12 examinations.
• Language Proficiency: IELTS score of 7.0 or higher (minimum 7.0 in each band). Most academic institutions admit students with their TOEFL test results.
• Entrance Exams: Universities demand SAT results mainly for admission into competitive undergraduate programs.
  Additional Documents: Statement of Purpose (SOP), Letters of Recommendation (LORs), and proof of financial ability.
  

Degree Programs in Canada with Secured Education Loans:

If you have collateral, you can apply for an education loan to fund your studies no matter which of the undergraduate degrees, diploma, or certificate programs you’re applying for in Canada. Lenders such as government banks and private financial institutions approve loans more easily when security, say property, fixed deposits, or insurance policies are pledged. By doing this, you’ll get a lower interest rate and a higher likelihood of loan approval (even for courses with moderate job prospects).

At WeMakeScholars we provide guidance for students to find an education loan scheme perfectly suited for them from 14+ public banks, private banks, and NBFCs connected with us. You can get a personalized assessment of your profile by requesting a callback from our Financial Officers. Depending on your academic background, financial standing, and loan needs, our team will connect you with the most suited lenders to get the best deal in terms of terms that would be favorable to you.

If you’re curious about your chances of securing an unsecured loan, check out the tables below, showing which degree and course has the best chance of securing you an unsecured loan.

Top UG Degree Programs in Canada: Are Education Loans Available?

Pursuing a UG degree in Canada can be transformative for Indian students. Below are popular programs and their loan options:

Engineering:

• Fields: Mechanical, Civil, Software, Electrical.
  
• Benefits: High demand globally, lucrative job opportunities. Engineering graduates often secure starting salaries of CAD 60,000–75,000 (INR 36–45 lakhs) annually.
  
• Average Tuition: CAD 25,000–30,000/year (INR 15–18 lakhs).
• Loan Options:
  
  • Government Banks: The lending institutions offer educational loans against real property assets to students enrolled in prestigious educational institutions. SBI extends education loan packages to students studying at universities that hold rankings in the top 100 globally.
    
  • Private Banks/NBFCs: Loans provided without security come with interest rates between 9% and 14% annually.
    

Business and Management:

• Fields: Finance, Marketing, Entrepreneurship.
• Benefits: The curriculum prepares future professionals for work in rapidly changing business sectors. Graduates either accept positions within multinational corporations or create their own new businesses.
  
• Average Tuition: CAD 20,000–28,000/year (INR 12–17 lakhs).
  
• Loan Options: Available through government and private financial institutions. For bigger loan amounts financial institutions demand collateral from applicants.
  

Computer Science and IT:

• Fields: AI, Data Science, Cybersecurity.
  
• Benefits: Canadian technology-focused companies create many employment prospects that pay employees CAD 70,000–90,000 (INR 42–54 lakhs) per year on average.
  
• Average Tuition: CAD 25,000–35,000/year (INR 15–21 lakhs).
• Loan Options: Widely available, especially for programs with strong ROI. The NBFC Credila provides IT program-specific loan plans that are tailored to individual needs.
  

Health Sciences:

• Fields: Nursing, Pharmacy, Biomedical Studies.
  
• Benefits: Robust career growth in Canada’s healthcare sector. Nursing graduates often secure jobs immediately upon graduation due to high demand.
  
• Average Tuition: CAD 18,000–25,000/year (INR 11–15 lakhs).
  
• Loan Options: Often collateral-based due to high costs. The Vidya Lakshmi government scheme assists.
  

Arts and Humanities:

• Fields: Literature, History, Creative Arts.
  
• Benefits: Graduates will acquire critical thinking abilities and communication skills to pursue careers in education media or public service.
  
• Average Tuition: CAD 15,000–20,000/year (INR 9–12 lakhs).
  
• Loan Options: Reputed educational institutions offer limited access to funding opportunities.

Unsecured Education Loans for UG Degrees	Private Banks	NBFCs
Engineering	Higher Chances	Higher Chances
Business and Management	Higher Chances	Higher Chances
Computer Science and IT	Higher Chances	Higher Chances
Health Sciences	Moderate Chances	Moderate Chances
Arts and Humanities	Moderate Chances	Moderate Chances
Natural Sciences	Moderate Chances	Moderate Chances
Law and Legal Studies	Higher Chances	Higher Chances

Top UG Diploma Programs in Canada: Are Education Loans Available?

The practical nature of diploma courses together with their alignment with industrial needs makes them highly regarded programs. Below are popular diploma options:

Diploma in Engineering Technology:

• Focus: The fields of design manufacturing and construction benefit from practical applications.
• Average Tuition: CAD 12,000–18,000/year (INR 7–11 lakhs).
• Loan Options:
  • Government Banks: Available with collateral.
  • NBFCs: Those institutions that maintain reputation status such as Centennial College along with Humber College make diplomas accessible.

Diploma in Business Administration:

• Focus: Financial management, marketing, operational planning.
• Average Tuition: CAD 10,000–15,000/year (INR 6–9 lakhs).
  
• Loan Options: Recipients from recognized institutions can obtain loans without providing collateral. People who take loans must pay an annual interest rate between 10% and 14%.

Diploma in Computer Programming:

• Focus: Several key components define the curriculum including programming languages software development and web technologies.
  
• Average Tuition: CAD 15,000–20,000/year (INR 9–12 lakhs).
  
• Loan Options: Widely available due to high job prospects in IT
  

Diploma in Healthcare Management:

• Focus: Leadership roles in healthcare organizations.
  
• Average Tuition: CAD 10,000–15,000/year (INR 6–9 lakhs).
  
• Loan Options: Requires collateral in most cases.
  

Unsecured Education Loans for UG Diploma	Private Banks	NBFCs
Diploma in Engineering Technology	Higher Chances	Higher Chances
Diploma in Business Administration	Higher Chances	Higher Chances
Diploma in Computer Programming	Higher Chances	Higher Chances
Diploma in Healthcare Management	Moderate Chances	Moderate Chances
Diploma in Graphic Design	Lower Chances	Lower Chances
Diploma in Hospitality Management	Moderate Chances	Moderate Chances
Diploma in Event Planning	Lower Chances	Lower Chances
Diploma in Film Production	Lower Chances	Lower Chances
Diploma in Data Science	Higher Chances	Higher Chances

List of Popular UG Certificate Courses in Canada: Are Education Loans Available?

Certificate programs are ideal for gaining specific skills quickly. Below are examples:

Certificate in Digital Marketing:

• Topics: SEO, social media, data analytics.
• Tuition: CAD 8,000–12,000 (INR 5–7 lakhs).
• Loan Options: Limited availability for short-term courses.

Certificate in Project Management:

• Topics: Leadership, organizational skills, resource management.
• Tuition: CAD 10,000–15,000 (INR 6–9 lakhs).
• Loan Options: Mostly collateral-based.

Certificate in Web Development:

• Topics: Coding languages, UX/UI principles.
  
• Tuition: CAD 12,000–18,000 (INR 7–11 lakhs).
• Loan Options: Available with restrictions.
  

Unsecured Education Loans for UG Certificate	Private Banks	NBFCs
Certificate in Digital Marketing	Lower Chances	Lower Chances
Certificate in Project Management	Moderate Chances	Moderate Chances
Certificate in Web Development	Lower Chances	Lower Chances
Certificate in Business Management	Moderate Chances	Moderate Chances
Certificate in Graphic Design	Lower Chances	Lower Chances
Certificate in Human Resources	Moderate Chances	Moderate Chances
Certificate in Supply Chain Management	Lower Chances	Lower Chances
Certificate in Accounting and Finance	Moderate Chances	Moderate Chances
Certificate in Hospitality and Tourism Management	Lower Chances	Lower Chances

Why Banks and NBFCs Avoid Offering Unsecured Loans for UG Courses

Banks and NBFCs often hesitate to offer unsecured loans for UG courses due to:

• Limited Experience: Most UG students maintain limited capability to repay loans because they have yet to gain employment experience.
• Longer Duration: Loans distributed during longer periods along with increased monetary amounts raise substantial financial threats.
• Uncertain Job Prospects: UG programs do not always create stable job markets leading to unpredictable repayment prospects.
• Higher Financial Risk: Eligible lenders show greater reluctance to accept higher financial responsibility stemming from uncollateralized loans.

Conclusion

The educational loan process for participating in UG programs in Canada presents difficulties that can be managed through proper academic coaching. WeMakeScholars provides customized loan solutions that match your specific requirements. Our financial officers can provide expert support throughout the entire loan process, from loan approval to disbursement and throughout your education period.