Passage Loan FAQs

Do you have questions around the Passage loan program, eligibility or how we can help you achieve your educational and career goals in Canada? Find out more here.

What is passage?

Passage is a platform that matches international talents with Canada's workforce needs. Its mission is to provide access to life-changing educational and career opportunities through student financing.

What countries are eligible for a passage loan?

Passage supports students from most countries but cannot yet assist those in Europe, Afghanistan, Belarus, Central African Republic, China, Eritrea, Haiti, Iran, Iraq, Lebanon, Libya, Moldova, Myanmar, North Korea, Russia, Somalia, South Sudan, Sudan, Syria, The Democratic Republic of Congo, Ukraine, Venezuela, and Yemen.

What programs and Schools does passage support?

Passage offers school admission support and student loans for selected Healthcare, STEM, and Skilled Trades programs at partner institutions including George Brown College, Niagara College, and Bow Valley College. They also provide student loans for select STEM master's programs at reputable Canadian universities.

Passage is continually expanding its list of partner schools and eligible programs. We’ll be sure to keep you updated as new options become available.

Does this program support students outside of Canada?

Yes! Passage serves students both onshore (currently in Canada) and offshore (currently outside of Canada). Whether you’re already in Canada or applying from abroad, you may be eligible for their programs and student loan options.

How much does it cost to study in Canada?

We recommend doing thorough research to understand the full cost of living and studying in Canada, as expenses can vary by location, program, and lifestyle.

Here are some average estimates (source: Statistics Canada):

Undergraduate tuition (international students): Approximately C$36,100 per year
Graduate tuition (international students): Approximately C$21,100 per year
College tuition (international students): Typically ranges from C$17,000 to C$25,000 per year

In addition to tuition, international students are required to show proof of at least C$20,635 for their first year of living expenses. Other costs to consider include books and supplies, health insurance, housing, food, transportation, and personal or travel expenses.

What is a letter of acceptance (LOA), and why is it important?

A Letter of Acceptance (LOA) is an official document issued by a Designated Learning Institution (DLI) in Canada. It confirms that you have been accepted into a specific program of study at that institution.

An LOA is a mandatory requirement when applying for a Canadian study permit through Immigration, Refugees and Citizenship Canada (IRCC).

Your LOA will typically include:

The name of the institution
The program of study
The level of study
Program start and end dates
Any conditions attached to your acceptance

You can learn more about LOAs and study permit requirements here.

How do I know if I’m eligible to study in Canada?

To be eligible to study in Canada, you must meet the following key requirements:

Acceptance by a Designated Learning Institution (DLI): You must have a valid Letter of Acceptance (LOA) from a recognized Canadian school.
Proof of funds: You need to show that you can pay for tuition, living expenses, and return transportation.
Good character: You must have a clean criminal record (a police certificate may be required).
Good health: You may need to complete a medical exam, depending on your country of residence and length of stay.

For full details, visit the official Government of Canada website here.

What's the maximum amount of loan I can secure through Passage?

You can qualify for up to a loan of $65,000. However, the amount of loan you're qualified for depends on your academic program, the funding amount you're able to contribute, as well as a variety of other factors. To find out how much exactly you can qualify for, please email us at passage@oasislendinggroup.com to speak to our Student Intake Officer.

Can I apply for a loan before receiving my university acceptance?

Yes, you can start your loan application before receiving your Letter of Acceptance (LOA). However, you won’t be able to complete or finalize your loan approval until you have your LOA. This document is required as part of the final loan processing and approval steps.

We recommend checking the specific eligibility and document requirements for each program here or by contacting our support team.

Still, have questions? Our team would be happy to answer your questions and help you get started on your application. Contact us here