Like I said, I called some banks, went in person to other banks and I was told that they do not give loans to international students. As for credit cards I got one, weeks after coming here, and I could get many more if I wanted to. As for the credit limit increases I dont know if you can get 5k, 10k and so one bcs I never looked into it. But I am talking about a student line of credit, I researched all the big 6 banks in Canada, with no luck. Now, if you are working full-time and have a good income chances are you can get a line of credit, however being an international student with a work permit, you can't exactly work full-time (except for summer time, or which ever term you choose to take off of the three), unless you illegally work full-time, as there is restrictions to the amount of hours that you can work. I don't know how it works with pgwp.
Therefore by extensive research I mean looking at every possible option to get a student loan, whether it was by the gov ( they did have a board that helped international students in need of financial assistance long time ago, but it's no longer functioning) or banks, and by personal experience all banks that I approached told me that I couldn't get a loan due to me being an international student. Like i said in my previous post, it is possible with a cosigner (who needs to be a citizen), however it is up to the branch that you go to,whether they will give you a student loan with a cosigner or not. I never did pursue it any further so I couldn't tell you if you'll be able to get a loan with a cosigner
However, this is experience from 3-4 years ago, so maybe things have changed. To be on the safe side, you can try calling or going in person to some banks and finding out your options.
sabby2612 said:
what do u mean by extensive research? do u know even as student you can get a credit card on the very first day u land here and that too without any work experience with a limit of 500 to 1000 CAD$. and as the time passes you can even have a limit of 5k in just one years' time. and people who have work permit, can have upto 10k credit card limit. Perhaps you should do research on that. I personally visited CIBC and they were okay giving me car loan, so i kinda feel it's possible to get loan too if you are working full time.
