Periculum Connect FAQs

Frequently asked questions

Answers to common questions our users are asking about Periculum Connect. If you can’t find what you’re looking for, contact us at sales@periculum.io

What programs do you fund?

Our partner organization funds postgraduate diplomas and degree certificates in STEM, healthcare, skilled trades, tourism, and hospitality programs to target Canada's labour shortages.

When does repayment start?

Loan repayment starts 1 month after you resume.

Will Students be able to repay the loan?

Big Yes. Students can work while studying. International students can generally work up to 24 hours per week. The wages typically range from $16.55 to $20 per hour, depending on the job and location. At the end of the month, a student earns an average of $1,522.6 to $1,920. In addition to living expenses already applied for $3,272.6 to $3,670.

What if students don’t get their visa?

Full refund in 48 hours (no fees)

Will students be able to find accommodation?

Yes - but you should be strategic and plan early.

Can students find a part-time job?

Yes - GBC is in downtown Toronto, all students who truly want to work can find part-time work

What are student chances of PR?

Our programs are chosen because they lead to jobs in areas of labour shortage, which are the most aligned for future PR.

What are the schools you support?

We support the following universities

What does the repayment flow look like?

For a loan of $18,000, your monthly repayment is typically around $260. A $38,000 loan would increase this to about $540 per month, while a $56,000 loan would require approximately $840 monthly

How long is the repayment duration?

You can repay the loan for up to 7 years, that's 84 months.

What are the repayment fees and terms?

Up to $75K loan
11.95% APR
Unlimited & free early repayment
Repayment starts 1 month after school starts
No penalty for early repayment
25% Initial Deposit
For a loan of $18,000, you need a refundable cash collateral of $4,500 paid to our partner financial institution
For a loan of $38,635, you need a refundable cash collateral of $9,650 paid to our partner financial institution
Loan repayment starts after enrollment, with reduced monthly payments via cash collateral. Part-time work helps students manage costs during and post-study.

Why cash collateral?

We employ the use of cash collateral to mitigate against fraud and to boost credibility before the IRCC.

How can the cash collateral be sent?

If you apply to GBC, GBC sends you LOA with instructions, Use Flywire to connect with the bank & send money, the loan is finalised once the collateral is received.

What are the loan Eligibility criteria?