Personal Loan for International Students in Canada

If you’re an international student in Canada, getting funding can feel confusing.

You usually have higher tuition, limited work hours, and fewer options than domestic students—but you do still have some choices.

KOHO Line of Credit

With the KOHO Line of Credit, you can:

• Apply online for about $1,000–$15,000 in available credit

• Get interest rates as low as 19.9%

• Only pay interest on what you actually use, not on your full limit

• Avoid extra charges—no late, annual, or origination fees, just the interest on what you borrow

• Apply without a hard credit hit; checking if you qualify won’t impact your credit score

For international students who qualify, a KOHO line of credit can work as a flexible top-up for living costs or emergencies.

1. Student Lines of Credit from Banks

Many Canadian banks offer student lines of credit, often targeted at:

• Domestic students

• Professional programs (medicine, law, dentistry, etc.)

International students sometimes qualify, but usually only if you:

• Have a Canadian co-signer with strong income/credit

• Can show a solid study permit and proof of enrollment

• Meet the bank’s income and documentation requirements

These lines of credit are often used for tuition + living costs, and you generally:

• Pay interest only while in school

• Start paying principal + interest after you graduate

2. Government Student Loans & Grants

Federal and provincial student aid in Canada is usually designed for:

• Citizens and permanent residents, and in some cases certain protected statuses

Most international students are not eligible for Canadian government student loans and grants, which is why they lean more on:

• Personal/family savings

• Bank or private loans

• Income from part-time work

If you’re not sure whether you qualify, you’d need to check the rules for your province or territory plus the federal program.

3. Private Loans & Co-Signed Loans

There are also private lenders who offer loans to international students, often with:

• A Canadian co-signer (family or close contact)

• Higher interest rates than government loans

• Fairly strict eligibility checks

These can help cover tuition gaps, but because rates and fees can be high, it’s important to:

• Compare interest rates and total cost

• Watch for origination fees and other charges

• Borrow only what you realistically need

4. Loans from Your Home Country

Some international students borrow in their home country and bring the funds to Canada. That can include:

• Student loans from home-country banks

• Government-backed programs for students studying abroad

• Family loans/formal arrangements

Here you need to watch:

• Exchange rates (they can move a lot over a multi-year degree)

• Any foreign transaction or transfer fees

• How repayment will work once you’re earning in CAD (if you plan to stay in Canada)

5. Personal Loans, Credit Cards & “Last Resort” Options

Other ways students sometimes borrow:

• Unsecured personal loans (often higher interest, especially with thin credit history)

• Credit cards (handy, but very high interest if you carry a balance)

• Payday-style loans (very expensive and usually best avoided)

These can add up quickly and are usually better as short-term, emergency tools, if at all—not long-term tuition strategies.