Loan by sponsered family member

[Nia]

Hi

I am sponsered as a dependant with my parents in family class sponsership. My plan is to study when i arrive in Canada. Can I take student loan and study or will it be considered as a responssibility of the sponser?

Thanks

 

[wilson]

As you are a dependent child parents do have responsibility to support for your education. Your education will be free for the high school.

If you are looking for loan the federal government funds the Canada Student Loan Program (CSLP) and the provinces also have their own programs providing funds to eligible students. Also Canadian banks offer commercial loans for students in professional studies for which the bank charges will apply accordingly.

 

[Nia]

I am planning to do my professional studies in Canada i.e. MBA. My parents will go back to their home country after first time landing in Canada but i will stay in Canada and do my studies. My question is can I apply for student loan or would that be the responsibility of our sponser and he will be questioned if i apply for loan?

Thanks

 

[greenoil]

May be you should not come to Canada to study as a PR. It costs a lot to study MBA and you may default the loan when you're done and leave Canada. I believe you're not one of these people. Having said that, you may not eligible to receive student loan since they will assess your parents' income and your credit worthiness which will be zero in your case. You should plan to work your butt off to save for MBA since you won't see much of daylight while studying MBA.

 

[Iay]

Once you get a PR status, you are eligible for student loans and grants from the governemt without obligations from the sponsor. The only time that they will have to pay for what you ask from the government is if it's government social assistance like when you can't find a job.

Student loans are not counted as government social assitance.

 

[Nia]

Thanks Iay