Funds: Taking out a loan sounds like his only choice - unless you/he have/has a very considerate (and wealthy) friend/family member to sponsor him. You need a minimum of 1 years tuition + $10,000 (1 year living expenses) to show for proof. Anything after that you shouldn't need for the application, but to fund later years is your own responsibility there on. If you can't afford it, don't do it.
PR: Gaining PR is challenging. You either need money + patience, or be in a great position to get there - usually both. There are a number of ways to get to stay in Canada, generally on three paths.
Family/Spousal sponsorship (applications take the longest, depending on circumstances and where you are from): Have a family member or marriage/common-law relationship with a Canadian. You'll need definite proof of your relationship, reasoning for bringing them over, funds to support them to live until the application is complete. Proof of these funds.
Study (most expensive and semi-permanent): Tuition as an international student is 2.6 or 3 times the usual rate. Add in textbooks, flights, living fees too and you'll be paying a pretty penny.
Work (usually the most difficult route due to how much competition is out there): It is fairly easy if you have a company wanting to hire you over there or have oodles of work experience in a particular area. There are routes from Study Permits to being allowed to work in Canada available to international students, I don't have much knowledge in that area myself but he needs to have completed most if not all of his studies to then apply for such things. He'll need good grades to compete too.
The study permit route is the fastest way to get him over on a temporary visa, it may also give you some time to figure out your next steps to keep him with you permanently - as long as you guys are able to afford it.
