How long do I have to repay back the loan?

The Foreign Credential Recognition (FCR) loans program is funded in part by the Federal Government of Canada to help skilled newcomers to get back into their professional field or an alternative related career field.

FCR is a process to verify that your education and work experience, obtained in another country, is equivalent to the standards established by the Canadian workforce.

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Skilled Newcomers who meet the following requirements:

• Permanent Resident, Canadian Citizen Temporary Resident, or Refugee with legal document representing working status in BC
• Proof of education credential and work experience outside of Canada
• Seeking to get credentials recognized in Canada and/or undertaking training for an Alternative Career

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• Loans can be used for credential evaluation, association & exam fees, books & course materials, short-term bridge training, and travel expense/living allowance
• Multiple Loan amounts from $1000 – $30,000
• Flexible repayment from one to five years
• Competitive low-interest rate.

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• Different from banks, credit unions, and student loans; the FCR loan program focus on processing the application based on character assessment
• If you are a skilled newcomer who just arrived in Canada with no credit history, the FCR loan program can help you if you need financial support to get back to your own profession or an alternative related career field.

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