Your Most Asked Questions About Passage Loan, Answered

Studying abroad, particularly in Canada, is a dream for many international students across Africa and beyond, but financing this dream often stands as a major barrier.

Thankfully, innovative platforms like Passage are changing the game by offering accessible student loans that cover both tuition and living expenses, and also help you find a job when you get to Canada.

In this detailed Q&A interview with a representative from the Passage team, we covered everything prospective students need to know, from eligibility and program coverage to repayment timelines, job support, visa guidance, and more. This interview will answer all your questions and help you determine if Passage is the right path for your Canadian study journey.

Q 1: What eligibility criteria does Passage consider when reviewing a loan application?

Apart from academic performance, we consider factors such as study gaps. For instance, if someone completed their last degree 10 to 15 years ago, it may be difficult to get study permit approval. We assess these applications with the study gap in mind. We also evaluate the applicant’s chances of obtaining a work permit or permanent residency. A good credit score is important as well. If the applicant has taken out a loan before, we check if they have been repaying it on time. Other criteria include the alignment of the selected program with the applicant’s educational background and work experience. Additionally, applicants must have a minimum of 25% of the total loan amount as cash collateral.

Q 2: What happens after I complete the eligibility test?

Once you complete the eligibility test on the platform, you will immediately know whether or not you are eligible. After that, you will see the necessary steps to follow in order to get your loan and begin your process of relocating to Canada.

Q 3: Is Early Childhood Education an eligible program?

Yes, Early Childhood Education is available at Niagara College and Toronto College. All of these are listed on the Passage platform and are eligible for loan financing. Each listing clearly states Passage loans available.

Q 4: I just completed NYSC in Nigeria. Can I still apply without work experience?

Yes, that is not a problem. NYSC, which is the National Youth Service Corps in Nigeria, can be considered as work experience. Not all programs require work experience. For example, diploma programs such as welding techniques, contracting, and early childhood education may only require WAEC or NECO. Postgraduate certificate programs, on the other hand, typically require a bachelor’s degree.

Q 5: Can I pay off the loan early?

Yes, absolutely. There is no penalty for early repayment. In fact, we encourage students to repay their loans as early as possible. If you choose to pay off the loan a few months after arriving in Canada, you are free to do so.

Q 6: Is there an age restriction for Passage loans?

There is no strict age limit. We assess applications based on the immigration perspective, including the likelihood of permanent residency approval and employment potential. Age alone is not a disqualifying factor.

Q 7: What happens if my visa is refused? Will I get my cash collateral back?

Yes, if your visa is refused and you request a refund, we will return the full collateral amount in Canadian dollars. This process usually takes three to four weeks.

Q 8: Can I bring my spouse or family with me if I take a Passage loan?

Currently, the programs supported by Passage are primarily diploma and postgraduate certificate programs, which do not allow for spouse visas. Spouse visas are typically available only for master’s degree programs, which we plan to offer soon.

Q 9: Can I defer my admission if necessary?

Yes, it is possible to defer your admission, provided the program is available for the next intake and there are still available seats. Not all programs are open every intake, so availability must be confirmed.

Q 10: What happens if I return to my home country or cannot repay the loan?

You must inform us if you are facing financial challenges or planning to return home. Each student has access to our Talent Success Team, which helps with resumes, job search, and networking. If repayment becomes an issue, it is important to communicate with us. Loan repayments are reported to the Canadian Credit Bureau, which can impact your credit score positively or negatively depending on your repayment behavior.

Q 11: Does Passage help students find jobs in Canada?

While we do not guarantee employment, we assist students in becoming job ready through resume support, LinkedIn optimization, employer connections, and networking events. Students must actively participate and put in effort to benefit from these resources.

Q 12: How do I pay the cash collateral?

After loan approval and signing the loan agreement, a step will appear in your application portal instructing you to make the cash collateral payment. Options include bank transfer and payment via our secure remittance partner. Once payment is confirmed, you will receive the Passage Pass, which serves as financial proof for your study permit application.

Q 13: Is the Passage Pass accepted for visa applications?

Yes, the Passage Pass is widely accepted and has been successfully used for many visa applications.

Q 14: Can I apply for a loan for a program not listed on Passage?

No, we only fund programs listed on our platform because they have passed our vetting process, including job market demand and immigration compatibility. However, if you obtain an offer letter for an approved program independently, we can still provide the loan.

Q 15: When does loan repayment begin?

Loan repayment starts one month after the program begins. For students who receive living expenses through Passage, the monthly repayment amount will be deducted from the monthly disbursement. For example, if you receive $1,700 per month and your repayment is $500, you will receive $1,200. 

Q 16: Does Passage cover Practical Nursing programs?

Yes. For instance, Practical Nursing at George Brown College is covered. Admission requires at least 70% in English, Math, Biology, and Chemistry at the secondary education level.

Q 17: I studied Agricultural Economics. Does that fall under STEM?

You can look up CIP codes (Classification of Instructional Programs) to check whether your program qualifies as STEM or is eligible for a Post-Graduate Work Permit. The Canadian government maintains a list of approved programs.

Q 18: I studied Microbiology. Can I transition to healthcare for my master’s program?

That transition may be possible. Use the Check Eligibility tool on the Passage platform. Based on your background, you may be recommended suitable healthcare postgraduate programs that accept a bachelor’s degree in microbiology.

Q 19: Will Passage offer loans for studying in the UK?

We are working on expanding our services to include UK colleges, but there is no confirmed timeline yet.

Q 20: What is the deadline to pay the collateral for the September intake?

There is no fixed deadline for collateral payment. However, you must consider the study permit application timeline. Ideally, you should apply for your visa at least three months before your program starts. For a September start, aim to complete your application by April or May.

Q 21: Is English proficiency required?

This depends on your country of education and the program. Countries like Nigeria, Ghana, and Kenya are generally exempt. Others like India, Pakistan, Cameroon, and Nepal usually require IELTS or other proficiency tests. Some healthcare and regulated programs may require English proficiency regardless of country of origin.

Q 22: Will Passage help me with my visa application?

Yes. We provide guidance to help students apply on their own, or you can work with one of our immigration partners for a fee. Either way, you are responsible for preparing and submitting all required documents.

Q 23: Is an HND qualification acceptable?

It depends on the program. Some accept HNDs, especially diploma-level and a few postgraduate certificate programs. Others may require at least a three-year bachelor’s degree.

Q 24: I have a BBA (Bachelor of Business Administration). What postgraduate program can I apply for?

The Information Systems Business Analyst program is a good option for BBA holders with at least one year of work experience. Use the Check Eligibility tool to explore other suitable programs based on your profile.

Q 25: What are the final steps after confirming eligibility?

Once you complete the eligibility test, follow the provided instructions to sign up and submit your documents. All necessary steps are detailed on the platform after the test is completed.

Conclusion

If you are serious about studying in Canada but unsure how to finance it, Passage could be your stepping stone. With transparent requirements, supportive career services, and a growing network of eligible institutions and programs, they are not just offering loans, they are offering real access to opportunity.

Remember, the first step is simple, take the eligibility test on the Passage platform. From there, you will receive personalized guidance, admission support, and a clear roadmap toward funding your education.

If you have further questions after reading this Q&A, feel free to drop them in the comments section or visit the Passage website for more information.