Canadian Loan Programs

Financial aid options for Canadian students

Most major banks in Canada (Scotia, NBC, RBC) offer lines of credit for students studying outside Canada. These educational lines of credit are specifically designed to fund the costs associated with the student’s studies.

For students studying outside of Canada, most lenders will require a credit-worthy cosigner for the student to obtain approval. Approvals are made at the discretion of the local branch where the application is submitted. Students are advised to apply at the location where they and/or their co-signers conduct most of their banking transactions. Credit-based loans and lines of credit are typically approved for students and cosigners who have good credit ratings.

To apply for an educational line of credit, accepted students should provide the bank with a copy of their letter of admission, along with a printout of the UMHS IMED directory listing and the CaRMS Eligibility Criteria.

Canadian Student Financial Assistance

Starting with the 2026-2027 award year (8/1/26), Canadian Student Financial Assistance (SFA) will no longer provide funding to students attending a school outside of Canada or a proprietary school in Canada.

However, if you have already received funding from SFA to attend UMHS, you may still be eligible for funding towards your degree at UMHS. A transition period has been established for students who are currently receiving SFA. If you received SFA and remain enrolled in the same program at UMHS, you may continue to receive SFA through July 31, 2029, provided you continue to meet all other eligibility criteria set by your province. Students in some provinces, including Ontario, may be subject to a special application review process to remain eligible under this provision.
 
For province-specific information, application instructions, and deadlines, please visit the student aid website for your province:

• Alberta
• New Brunswick
• Newfoundland and Labrador
• Northwest Territories
• Nova Scotia 
• Ontario
• Prince Edward Island
• Saskatchewan

UMHS institutional loan program

UMHS maintains a loan program for students who have been unsuccessful at qualifying for a Canadian line of credit or provincial loan. This University-funded program provides loans to students who have made a concerted effort to obtain funding for the upcoming term and have fallen short of their needs. Loans approved under this program are applicable toward tuition only. These loans are available on a per-semester basis. The maximum amount available per semester is $6,000. 

Contact the Office of Financial Aid for further information and to determine eligibility.

Geneviève Gagné Associate Director of Admissions - Canada 819-412-4887 ggagne@umhs-sk.net Book an appointment As the Associate Director of Admissions Canada at UMHS, with effective communication and networking skills, I joined the UMHS team after six years of owning my own business. Before that, I worked for three years here at UMHS, six years at the Canadian Resident Matching Service (CaRMS), and four years at the Faculty of Medicine of the University of Ottawa. I have extensive knowledge of the residency match process for International medical graduates and the Canadian medical education community, including how it pertains to Canadian students who have studied or are looking for a medical program abroad.  I speak French and English.