Loan Programs

Undergraduate Students

Undergraduate students who require financial assistance or would like to learn more about domestic and international financial aid options should visit York University Student Financial Services website.

Graduate Students

Many graduate students will need to secure private financing to help cover the cost of their degree. We encourage you to research and compare loan options offered by banks and other financial institutions to find the solution that best meets your needs.

Below, you’ll find a range of financing options available to both domestic and international students.

Loan Programs for Domestic Students

Student Line-of-Credit Program

Canadian citizens and permanent residents may apply for a student line of credit or loan through any recognized Canadian financial institution. Students are strongly encouraged to secure financing prior to the start of the academic year.

Schulich has established partnerships with several leading Canadian banks that offer competitive student loan programs tailored specifically for Schulich students. Below, you will find details regarding contact information, credit limits, and preferred rates for students admitted to our suite of MBA and select Specialized Master’s programs. These loans typically take the form of a personal line of credit, with interest charged monthly.

Repayment terms vary by institution. Some banks offer interest-only payments for up to one year following graduation, while others may extend this period to two years.

Each partner bank provides dedicated, one-on-one financial advising for Schulich students. To learn more, we encourage you to contact one of the banks listed below or consult a financial institution of your choice.


Bank Contact	Chris Mai (Schulich campus branch) phuong.mai@bmo.com (416) 665-2596	Tausheen Kapadia tausheen.kapadia@rbc.com (905) 738-4405 Gurwinder Singh gurwinder.y.singh@rbc.com (905) 850-3746	Oksana Salamandyk oksana.salamandyk@td.com (905) 660-6068 ext. 300	Mobile Team 1-866-525-8622
MBA/Joint MBA/EMBA
Partnered Rate	Up to $150,000 at Prime¹ Includes Tech MBA	Up to $125,000 at Prime	Up to $125,000 at Prime	Up to $125,000 at Prime Includes Tech MBA
Specialized Masters
Partnered Rate	MAcc, MBAN, MF, MHIA, MMAI, MMGT, MMKG, MREI, MSCM – up to $150,000 Prime + 0.5%¹	MF, MBAN – up to $70,000 MMAI – up to $65,000 MAcc- up to $80,000 Prime + 0.5%²	MF – up to $125,000 Prime²	Please contact the bank for details.²

^{1 Visit BMO Schulich campus branch for further details.}

^{2 Please contact the bank to get the maximum loan amount and to confirm the interest rate for your program of choice.}

^{3 For programs not listed above, you may still contact our banking partners or your bank of choice to discuss possible loan options, eligibility and rates available.}

Ontario Student Assistance Program (OSAP) and Out of Province Government Loans

Full-time students may be eligible for government student loan funding through the provincial government from their home province.

OSAP is a need-based program available to Canadian citizens and landed immigrants who are Ontario residents. Information and application forms for assistance programs administered by the Province of Ontario are available at http://ontario.ca/osap. Full-time and Part-time students are eligible to apply. The OSAP program is administered through York University. Please visit the Student Financial Services website for more information: http://osap.yorku.ca/.

For information regarding other provincial student loan programs, consult the website of your provincial student assistance office. Out-of-province student assistance information and website links are available at http://sfs.yorku.ca/aid/outofprovince.

Note: All funding (scholarships, bursaries and awards, etc.) awarded by the University will be reported to OSAP and may have an impact on your OSAP entitlement. York University regularly provides updated funding information to the Ministry of Training, Colleges and Universities so students are not required to report these awards themselves. Undergraduate students who are employed in Work/Study positions (Work/Study, RAY, CLAY or YES) are required to report this income on their OSAP applications.

Lifelong Learning Plan

The LLP allows you to withdraw up to $10,000 a year (Max $20,000) from your registered retirement savings plan (RRSPs) to finance training or education for you or your spouse or common-law partner. Amounts withdrawn under the LLP do not count towards income and the RRSP issuer does not withhold taxes on these amounts. Withdrawals must be repaid over a period of no more than 10 years.

For further information on this plan, visit the government’s website at https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/lifelong-learning-plan.html

Loan Programs for International Students

International students are encouraged to explore all available sources of funding within their home country, including government-sponsored and private loan programs. While most Canadian banks require permanent residency status to qualify for student loans, some may offer financing to international students who have a creditworthy Canadian co-signer. For more information, please contact the Schulich Financial Aid office.

Private Loan Programs

Below is a list of private lenders that offer education loans specifically for international students. As interest rates and repayment terms vary by provider, we encourage students to carefully review and compare the options available through these and other student loan sources.

Prodigy Finance: Prodigy Finance offers education loans for international graduate students at the world’s top universities without requiring co-signers or collateral. They assess an applicant’s future earning potential to determine loan affordability. Prodigy’s model is borderless, allowing them to offer competitive rates to students from over 150 nationalities. Learn more at Prodigy Finance.

For more information, email info@prodigyfinance.com, call Prodigy Finance or follow their social media pages.

For details about the terms and conditions, and how to apply for a loan, visit Prodigy Finance.

Over 40k students funded
No collateral or co-signers required
Easy online process
No repayments while you study
6 months grace period post study
Over $2billion in loans funded

MPOWER Financing: MPOWER Financing is the leading provider of no-cosigner loans to students from around the world. MPOWER loans are based on your career potential and can cover tuition and other education-related expenses.

Support Team (24/7 coverage)
mpower.me@mpowerfinancing.com
+1-647-503-4607 (Canada)
WeChat (ID: mpowerstudentloans)

No co-signer or collateral needed
Fixed-rate loans of up to $125k CAD (100k USD) – over 2 academic terms. Please refer Repayment Disclosure for details on payment disclosures.
Career and immigration support through MPOWER’s Path2Success program
Applying is fast, free, and has no commitment. Apply here today!
Also check out their Scholarships!

Additional Funding Options (Country-Specific)

U.S. Residents:

Schulich students who are citizens of the United States are eligible to apply for the Federal Direct Student Loan Program and the Graduate/Professional PLUS (GRAD PLUS) Loans through the U.S. government. Information about eligibility and application procedures for the loans is available at http://sfs.yorku.ca/aid/usloans

Mexico Residents:

Residents of Mexico are able to apply for a loan through the Fund for Development of Human Resources (FIDERH) which is a federal trust managed by the Bank of Mexico. Students can also explore funding options through the Mexican Foundation for Education, Technology and Science (FUNED).

India Residents:

Schulich partners with multiple financial institutions and FinTechs like GradRight to extend competitive and favorable loan products to our MBA and MBA in India students.

Learn More: Funding for Indian Students