ApplyBoard Student Loans makes studying abroad to be one of the most significant investments you can make in your future. However, the cost of tuition, living expenses, travel, and other related fees can be a major barrier for many international students. ApplyBoard’s Student Loan Services aim to bridge that gap by offering tailored education loans designed specifically for students pursuing studies overseas.
I will explains how ApplyBoard student loans work, their key benefits, the application process, related financial services, and important considerations for prospective borrowers.
What Are ApplyBoard Student Loans?
ApplyBoard partners with global banking institutions to provide education loans that help international students finance their studies abroad. These loans are designed to cover a wide range of expenses beyond just tuition, making it easier for students to focus on their academic goals rather than financial stress.
The ApplyBoard Student Loans service is positioned as a solution for students who need funding support without the traditional barriers like collateral often associated with education loans.
Benefits of ApplyBoard Student Loans
ApplyBoard has different advantages that set its loan offerings apart:
1. No Collateral Required
One of the biggest advantages is that students generally do not need to provide collateral (such as property or other assets) to secure the loan. This makes the option more accessible to a wider range of applicants.
2. No Proof of Funds Requirement
Unlike many traditional study-abroad financing options, ApplyBoard loans do not require students to show existing proof of funds as a condition for the loan itself. This can simplify the process for students who need financing to meet visa or institutional financial requirements.
3. Extensive Expense Coverage
The loan can cover more than just tuition. Eligible expenses may include:
- Tuition fees
- Living expenses
- Travel costs
- Student laptop or necessary equipment
- Other related study-abroad costs
4. Competitive Interest Rates
ApplyBoard states that students can access some of the best rates in the industry, with interest rates starting as low as 6%* (evaluated on a case-by-case basis).
5. Flexible Repayment Terms
- Students may receive a grace period of up to 2.5 years* before starting EMI (Equated Monthly Instalment) payments.
- There are no penalties for early repayment, giving borrowers flexibility to pay off the loan ahead of schedule if their financial situation improves.
Note: Specific terms such as interest rates, grace periods, and repayment schedules are assessed individually and may vary depending on the lender, the student’s profile, destination country, and programme.
How to Apply for an ApplyBoard Student Loan
To apply for student financing through ApplyBoard Student Loans Services, visit the ApplyBoard Student Loans Page or log in to your account, navigate to the 360 Solutions tab, and complete the digital application form. The application process is designed to be straightforward. Follow these steps:
- Fill out the registration form
Start by completing the online registration form on the ApplyBoard Student Loan Services page. - Check your eligibility
ApplyBoard or its partner lenders will assess your eligibility based on the information provided. - Apply for the programme
Once eligibility is confirmed, you proceed with the formal loan application. - Receive your loan sanction letter
If approved, you will receive a loan sanction letter confirming the approved amount and terms. - Start your study abroad journey
With funding secured, you can move forward with your visa application, tuition payments, and travel plans.
ApplyBoard Loan Features
- No Collateral: Most options require no valuable assets to hold.
- No Proof of Funds: Traditional bank statement hurdles are removed.
- Expense Coverage: Covers living costs, travel, and school gear.
- Repayment Grace: Up to 30 months (2.5 years) of flexibility.
The ApplyBoard process is simple. There is no pressure or obligation when you begin the process. Completing the form simply allows their team to discuss available options with you. However, applicants should note the following;
- After opening the investment account, students must send a one-time international wire transfer covering the minimum GIC amount required by IRCC (currently CAD 20,635 in most provinces, with different requirements for Quebec), plus applicable fees.
- A handling fee (e.g., CAD 200 for RBC) is typically non-refundable.
- Refunds are possible if a study permit is refused (minus the handling fee).
- Once in Canada, students can open a chequing account and receive monthly disbursements from the GIC.
ApplyBoard Student Loan Eligibility Calculator: Check Your Chances
Not sure if you can get an education loan for studying abroad? You don’t have to fill a full application to find out. The ApplyBoard Student Loan Eligibility Calculator helps you check your chances quickly. Just enter a few simple details and see if you are likely to get approved.
How to Use the Calculator
Follow these easy steps:
- Log in to ApplyBoard and go to the 360 Solutions tab.
- Click on Financial Services.
- Click the Check Eligibility button.
- Fill in the form that appears.
- You must enter your Nationality and the Loan Amount you need.
- For better results, also add details like Field of Study, Tuition Amount, Annual Income, and School Name (these are optional).
- Click Check Eligibility to see your result.
The tool will show you an instant estimate, such as “HIGH” chance of approval.
Understanding Your Results
The calculator gives you a quick idea of your chances. It is only an estimate, not a final decision. If your result looks good, you can then start the full loan application with more confidence.
| Status Result | Recommended Next Step |
|---|---|
| High Chance | You have a strong profile. Click Start Loan Application to begin the formal process immediately. |
| Medium Chance | You may be eligible. You can proceed with the application or contact support for guidance on strengthening your profile. |
| Low Chance | You may face challenges securing a loan. Click Contact Support to discuss your situation or explore alternative options. |
Note: The Loan Eligibility Calculator provides only an estimate and is not a guarantee of loan approval.
Additional Financial Services Offered by ApplyBoard
Beyond student loans, ApplyBoard provides related financial tools that support international students, particularly those heading to Canada:
Guaranteed Investment Certificates (GICs)
For students applying for a Canadian study permit, a Guaranteed Investment Certificate (GIC) is often required to demonstrate financial capacity. ApplyBoard partners with major Canadian banks to offer digitally verifiable GICs, including:
- BMO International Student GIC Program
- TD International Student GIC Program
- RBC International Student GIC Program
These GICs help strengthen study permit applications by providing official proof of funds that meets Immigration, Refugees and Citizenship Canada (IRCC) requirements.
Tuition Payment Solutions
ApplyBoard also partners with Flywire to make international tuition payments faster, more secure, and more transparent. Flywire is a global payment platform that specialises in international education payments. As an official partner of ApplyBoard, it helps students pay tuition fees to universities and colleges quickly, securely, and at competitive exchange rates.
Through Flywire, students can make payments from almost any country using local payment methods (bank transfer, credit/debit card, e-wallets, etc.). The platform tracks payments in real time, reduces bank fees, and ensures funds reach the institution reliably.
ApplyBoard integrates Flywire so that students can complete their tuition payments easily as part of the study-abroad process, making the financial side of applications smoother and more transparent.
Frequently Asked Questions (Based on ApplyBoard’s GIC Services)
This ApplyBoard’s loan guide also addresses common questions related to GIC accounts (particularly RBC):
How do I follow up on my application status?
After receiving your account details from RBC, you may directly contact your assigned RBC advisor for all questions relating to your application. To help you receive a quick response, you must ensure that you include in the email all the information available on your application form such as SRF # and full name, as well as date of submission.
Can I get a refund if my visa gets denied?
Absolutely! To receive a refund, you will need to provide proof of study permit rejection and submit a request to your RBC advisor. You will receive a refund your one-time deposit, minus the $200 CAD handling fee which is unfortunately non-refundable.
How can I access my funds when I arrive in Canada?
Once you arrive in Canada, you can visit an RBC branch (with some identifying documents) to open a chequing account. You will then receive an initial lump payment into your new account. Monthly payments from your GIC will be deposited into your account until the GIC is redeemed in full.
If I defer my start date, what happens to my account and the funds?
If you wish to defer your start date, please notify your RBC advisor and they will assist you in updating your GIC.
How long will it take for me to receive a GIC certificate?
After your payment is received by RBC, it will take 3 business days to process and receive a verifiable GIC certificate from RBC on the ApplyProof platform.
What other information should I know about?
Considerations Before Applying
While ApplyBoard student loans offer attractive features, prospective borrowers should keep the following in mind:
- Loan terms (interest rate, repayment period, grace period) are evaluated on a case-by-case basis.
- Approval is not guaranteed and depends on the lending partner’s criteria.
- Students should carefully review the full loan agreement, including interest rates, repayment schedule, and any conditions.
- It is advisable to compare offers and understand the total cost of borrowing before accepting a loan.
Concluding Remarks
ApplyBoard’s Student Loan Services aim to make studying abroad more financially accessible by offering collateral-free loans, flexible repayment options, and coverage for a wide range of expenses. Combined with supporting services such as GICs and tuition payment solutions, ApplyBoard provides a broader financial toolkit for international students.
If you are considering studying abroad and need funding support, the first step is to complete the registration form on the official ApplyBoard Student Loan Services page. Their team can then guide you through eligibility and available options.
Visit the Official Page to Apply for Student Loan: https://www.applyboard.com/student-loan-services
Do not forget to always verify the most current terms, rates, and conditions directly with ApplyBoard or their partner lenders, as these can change.