International Loans and Scholarships

International Loans

Bank of Montreal (BMO) and Royal Bank of Canada (RBC)

All international students admitted to the Full-Time MBA program are eligible to apply for a loan with Bank of Montreal (BMO) and Royal Bank of Canada (RBC) as part of the Rotman Professional Student Loan Plans (PSLP). International students will be considered with a qualified Canadian resident co-signer or cash collateral.

International students can also be considered for a non-cosigned BMO loan for up to 100% of their program tuition fees with a Standby Letter of Credit issued from any BMO-approved bank in the student’s home country. With a Standby Letter of Credit, the bank in the student’s home country guarantees to pay the BMO loan amount should the student end up not re-paying it. The bank will then collect from the student the amount it pays to BMO.

Prodigy Finance

International students are also eligible to apply for a non-cosigned loan from Prodigy Finance. Although Rotman has no formal agreement in place, this firm has indicated a willingness to entertain loans up to the entire tuition fee for international students attending Rotman. Please note that these loans are governed by Prodigy Finance, and all decisions regarding approval and eligibility are made by Prodigy Finance.

MPower Financing

New to Canada, MPower Financing provides international students fixed-rate loans without co-signers. Although Rotman has no formal agreement in place, this firm has indicated a willingness to entertain loans up to $50,000 USD for two years of study.

ICICI Bank

Students coming from India are eligible to apply for a non-cosigned loan from ICICI Bank. Although Rotman has no formal agreement in place, this firm as indicated a willingness to entertain loans up to the entire tuition fee for Indian students attending Rotman. ICIC Bank also offers banking solutions for newcomers to Canada through their Hello Canada program. Please note that these programs are governed by that bank, and all decisions regarding approval and eligibility are made by ICICI Bank. For more information, please contact:

Mr. Kiran Babu
Mobile Number: +91 8297500223
Email: a.babu@icicibank.com

Mr. Ashwin Kumar
Mobile Number: +91 9985784567
Email: ashwin.bm@icicibank.com

International Scholarships

A number of organizations offer scholarships or fellowships to citizens of various countries to study in Canada. These programs can change annually and have not been screened by the Rotman School. Students are responsible for reviewing the details, particularly with regards to deadlines and eligibility. Students are also encouraged to research new opportunities with their home governments and institutions on an annual basis.

Government of Canada International Scholarship Programs

The Government of Canada has a number of scholarships available to international students for study/research in Canada.

International Peace Scholarship Fund for Women

The International Peace Scholarship Fund (IPS) is a program which provides grants-in-aid for selected women from other countries for graduate study in the United States and Canada. An applicant must be qualified for admission to full-time graduate study and working toward a graduate degree in the college or university of her choice in the United States or Canada. A student holding citizenship in the United States or Canada is ineligible.

Rotary Foundation Ambassadorial Scholarships

The Rotary Foundation has scholarships that aim to further international understanding and friendly relations among people of different countries. During their time abroad, Rotary scholars are expected to be ambassadors of goodwill through presentations to Rotary clubs and districts, school and civic organizations. Upon return home, they are expected to discuss and share their experiences with Rotarians and others.

Applicants must be nationals of a country where Rotary Clubs are located and must have completed at least two years of university level coursework before the scholarship begins.

Other External Scholarships

The University of Toronto also retains a list of external scholarship opportunities, which may be viewed from the Award Explorer and the Student Opportunities Database (Ulife). The list is updated regularly, however international students are strongly encouraged to seek out and apply for all possible funding opportunities from their home countries as well.

Last Updated: 2021-02-17 @ 11:35 am