Canada has long been a top choice for Indian students seeking to study abroad. Canada boasts of academic excellence, quality of life, cultural diversity, and so on. Nevertheless, studying in foreign countries may be expensive because it requires a number of expenditures, such as tuition, living expenses, visa fees, airfare, and more.
This is where Leap Finance comes in. They provide competitive loans, which give students flexible interest rates to choose from. Let us explore why you should consider Leap Finance for your Canadian education loan.
Table of Contents:
- No Collateral Required
- Flexible Interest Rates
- Full Cost Coverage
- Quick Application Process
- Frequently Asked Questions
No Collateral Required
Leap Finance is recognized for offering no-collateral foreign education loans to students planning to study abroad. They believe that loans should be given based on the student’s potential, rather than the family’s assets. Leap Finance does not ask for any immovable collateral (or property) and believes in students’ future potential.
Flexible Interest Rates
Leap Finance provides flexible interest rates beginning from 8.45%. Nevertheless, every student gets a unique offer and an interest rate which might differ depending on the university, program, co-applicant, and so forth.
Full Cost Coverage
Leap Finance covers the full cost to students who want to go to Canada for their studies. The loan covers 100% of the tuition and living expenses. The 100% cost consists of tuition fees, books, supplies, room and board, transportation and personal expenses.
Quick Application Process
Leap Finance is known for its quick application process. You do need to visit the bank for your Canadian education loan. The online application process involves only three steps:
Step 1: Choose your university and program of your choice
Step 2: Start filling out your online application form (which usually takes 9 minutes to complete)
Step 3: Get your loan offer from Leap Finance (and sanction in 3 days)
Frequently Asked Questions
Who is eligible to apply for a Leap Finance education loan?
You can apply for a Leap Finance education loan if you are an Indian student aged 18 or above with a co-signer. You should be applying for or accepted into a supported Canadian university.
What is the grace period for the Leap Finance education loan?
Leap Finance education loan offers a 36-month grace period. However, you must pay a minimum monthly payment of US $100 when you start your course.
How will the Leap Finance education loan cover my living expenses?
When you apply for an education loan, Leap Finance directly transfers your living expenses to your US bank account.
What is the processing fee for a Leap Finance education loan?
Leap Finance charges a 4% processing fee for education loans at the time of the fund request. A $500 sanction fee is also charged for obtaining the sanction letter.
Who can co-sign my Leap Finance Canada education loan?
The applicant’s parent can co-sign the Leap Finance Canada education loan. If this is not possible, the applicant’s sibling or a close relative can also co-sign the education loan.
