Student recruitment platform ApplyBoard has signed an agreement with one of Canada’s largest banks to assist students from top source countries with finance management.
TD, which hosts over 27 million customers as of January 2024, will help students coming to Canada from India, China, Pakistan, the Philippines, Morocco, Senegal and Vietnam, to meet eligibility requirements under the Student Direct Stream.
The specific collaboration – The TD International Student GIC program – pertains to demonstrating proof of financial ability, helping provide incoming students with a Guaranteed Investment Certificate, which proves those financials.
A hike of the necessary proof of funds was made at the beginning of the year, more than doubling from CAD$10,000 to CAD$20,635 from January 1.
“Students can strengthen their study permit application with verifiable Proof of Financial Support from ApplyBoard [through the TD program]. Our secure and private technology provides a positive experience, giving students peace of mind during the application process,” said ApplyBoard CEO Meti Basiri on LinkedIn.
“The TD International Student GIC Program offers students the opportunity to open an International Student Guaranteed Investment Certificate at TD with no application fee. Plus, students can start earning interest at a competitive rate even before arriving in Canada,” he added.
Those on the TD International Student GIC program, will also be able to use ApplyProof, the company’s verification platform to “strengthen study permit applications” when providing proof of funds on TD’s system, the bank said.
“The platform aims to provide centralised, streamlined verification of documents to help decrease wait times and build trust in legitimate documents provided,” the bank noted.
Basiri also said that the collaboration would offer students on the TD program with financial resources and “personalised support” before and while they’re in Canada.
“Students can start earning interest at a competitive rate even before arriving in Canada”
The international education landscape in Canada has seen some major changes in recent months, after the proof of funds was hiked, a cap was placed on international student enrolments, with provinces each receiving a certain allocation of Provincial Attestation Letters to control the number of students in each region.
