Welcome to IEFC

US STUDENTS

CANADIAN STUDENTS

INTERNATIONAL STUDENTS


RESOURCES

	Prime Interest Rates

CanHELP Loan Terms & Conditions
Canadian Grad Students

Bank Name Rates Fees

Without
Co-Signer With Co-
Signer
Bank of America LIBOR plus(+):
Own Signature - 2.9%
with Co-Signer - 2.4% Initial: 8.0%
Second: 2.0% Initial: 8.5%
Second: 0.0%

*All fees added and financed to principal loan amount

ELIGIBILITYCanHELP is a credit-based loan that requires applicants to have a satisfactory credit history.

* You and your co-signer must be a Canadian citizen.

Co-signers must have:
* An established satisfactory credit history.
* Be employed or have sufficient income to meet current liabilities including the CanHELP loan.
* Stable residence and employment history.

LOAN AMOUNT

Minimum: US $1000
Maximum: Graduate students may request up to US $20,000 on their own signature. Students requesting more than US $20,000 will need a credit-worthy co-signer. Medical students may borrow up to US $25,000 each year on their own signature. Annual maximum loan amount is the lower of $45,000 or Cost of Education as determined by the school, whichever amount is lower.

RATES

Please see the above chart for CanHELP Graduate Loan interest rates. Interest rates are variable (subject to monthly or quarterly adjustment), and based on either LIBOR* or the US Prime Rate as published in the Wall Street Journal.

For current PRIME and LIBOR rates please CLICK HERE

*LIBOR = London Interbank Offered Rate, a base index used in setting rates for U.S. capital markets. Rate used is the quarterly average of one-month LIBOR rates.

FEES

Varying according to co-signer status and lender, these fees allow you to borrow without pledging assets or collateral. Initial fees will be added to the principal of the loan at disbursement. Second fees, when applicable, are added to the principal loan balance at repayment.

REPAYMENT/DEFERMENT

You can defer payment of principal and interest for up to four consecutive years while enrolled in school. Your first principal and interest payments become due 6 months after you graduate. Any unpaid interest accrued during this period will be capitalized before you commence repayment. An additional deferment period of up to 48 months is available to medical students during an approved internship or residency.

Repayment terms vary between 10 and 25 years, based on the cumulative amount borrowed; minimum monthly payment allowed is US $50.There are no penalties for early repayment.

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CANADIAN GRADUATE


	CanHELP Applications and Loan Term & Conditions

ELIGIBLE SCHOOL LIST(S)
	International Eligible School List
	U.S. Eligible School List

APPLICATIONS
	Attending a U.S. School Application
	Attending a INTL School Application