I have got an admit for McGill MBA 2013 program and I currently trying to gather info on whether I can get my MBA education financed by a Canadian Bank (Desjardins Bank as per McGill website). I am an Indian applicant with no acquaintance in Canada, so I would need a co-signer to get a education loan from a Canadian bank (quoting Desjardins Bank website).
But I have following queries:
1) Can a non-citizen working in Canada with a work permit act as a co-signer? If yes, what would be the conditions for him being a co-signer?
2) If a Canadian citizen decides to act as co-signer for an International student, what are the conditions which he/she needs to fulfill. For example,
- a mandatory account in Desjardins;
- a property (or any savings) for guarantee equivalent to that of student loan amount from Desjardins;
- in case a co-signer doesn't have a account in Desjardins, could he still act as co-signer?
I would be glad if GMAT club folks could provide me few pointer on my queries.
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