Let me give you my personal experience which I had very recently. I got an offers from Conestoga and Sheridan colleges from Canada for May 2024. But somehow I felt that somewhere I got stuck during my banking process. I tried with several banks and NBFC.

In case If you wish to go through banks here are two important things you need to know

1. You better have any collateral , because most of the banks does not provide you educational loans without collateral.
2. Banks will ask you to pay up the deposit money to confirm your seat in the college by your own money ,later you can reclaim it. I actually wanted to go to Sheridan college, but the tuition fee for the college was my first term of tuition fee which is somewhere around 5.6Lakhs (INR). which I wasn’t able to afford . Hence I had to choose Conestoga college where they asked me to pay 92,167 Indian rupees to confirm my seat.
3. The processing time for banking system will be too long since you will be going through collateral .

Incase if you go through NBFC

1. The processing time will be less comparing to the banking process.
2. They will give you non collateral loans.

But going through NBFC is always considered to be a risk. I have researched through online and also by the experience of few peoples I know who took loans from the NBFC like Auxilo and Credila .

Some had a good experience and the others had a terrible one.

I went with an Organization called We Make Scholars. My Counsellor’s name was Oviya who helped me in getting loans through the ICICI Bank with Non- collateral option. Yes you heard it right ! its a non-collateral and with a Rate of interest of 10.99% also I got from Avanse and credila with 12.5 % . So without any confusion I chose ICICI .

I hope this helps you well. All the best guys .