How Passage education loans work for international students in Canada: amounts, fixed rate, collateral, eligible fields and how to apply.
Many families find the perfect program, then pause at the cost. It is one of the hardest moments in planning: the student is ready, the school fits, but savings alone do not cover tuition and living costs. That pause does not have to be the end of the conversation.
Through our partnership with Passage, eligible international students can apply for an education loan for select programs at partner Canadian institutions. Here is exactly how it works, based on the terms Passage publishes.
What Passage offers
Passage is an education-financing company that works with partner colleges and focuses on fields where Canada needs skilled people.
- Amount: up to CAD 65,000, for tuition only or tuition plus first-year living costs.
- Interest rate: a fixed 11.95% APR, so the rate does not change during repayment.
- Early repayment: no prepayment penalty.
- Collateral: upfront cash collateral, set by Passage for each loan. In the example we checked it was about 35% of the loan, credited against the monthly payments.
- Eligibility check: no credit check to see if you qualify.
Which programs qualify
Passage financing covers select programs at partner colleges in four fields: healthcare, skilled trades, early childhood education and STEM. Partners include George Brown, Bow Valley and others. The list changes, so we check it every week. You can browse eligible programs in our program finder.
To make the numbers concrete, Passage’s own calculator shows a tuition-only loan of CAD 37,426 for a Computer Systems Technician program at George Brown, with upfront collateral of CAD 13,227.80 and payments of CAD 502.20 a month for 84 months. Try your own figures in our loan calculator.
How the application works
- Choose an eligible program at a partner institution that matches the student’s goals.
- Get admitted: Passage requires an offer from the school.
- Apply to Passage with the admission letter, transcripts, ID and income documents for the student and any co-applicant.
- Approval and payment: Passage reviews the file, and once approved, tuition is paid directly to the institution.
- Plan the rest: housing, insurance and living costs combined into one first-year budget.
What to keep in mind
Canadian Edu Centre is not a lender. Passage offers, reviews and approves every loan under its own criteria and terms, and approval is never guaranteed. Terms can change at any time, so we confirm them again for your program before you apply. Many students borrow only part of the cost and combine the loan with family savings or a scholarship, which keeps monthly payments lighter.
A loan should support a well-chosen program, not replace careful planning. To check whether your program is eligible and see how financing fits your full budget, book a free pre-assessment with Canadian Edu Centre.