With renowned universities like: McGill, U of A, U of BC and McMaster, Canada attracts many international students.
While attending university in Canada, international students can choose whether they want to begin their careers here, or elsewhere.
Opportunities like internships, practicums, and co-op programs give international students the chance to put down occupational roots in Canada.
Some students may only stay for a short time, however others choose to continue their careers in Canada.
The retention of international students in their province of study is increasingly being regarded as a potential source of skilled labour by regions seeking labour force growth.
Source: Stats Canada
Less than half of Canada’s international students stayed in the province they studied in. After five years international retention was just over a 1/3rd.
With a sufficient retention rate, and students taking on fulltime positions in the Canadian workforce, it’s important to think about finances.
If you are an international student and have obtained fulltime employment in Canada, establishing yourself financially and building credit is important.
For international students, and anyone establishing or rebuilding their credit, you must remain in good standing with lenders and establish a positive credit score. Your credit score is determined by how much debt you have and how you repay that debt.
A great way to start building a credit score is a secured credit card.
A secured credit card offers lower credit limits. The limit is determined by the small amount required to be put down as your security deposit.
International students that are planning on being residents of Canada can benefit from this easy approach to building credit.
The EP Climb Credit Card is accepted everywhere VISA® is and can be used for everyday purchase. To learn more, check out our blog How to Choose The Right Secured Credit Card for You.
The route to homeownership
One of the first steps on the path to homeownership is understanding how credit works, and in turn working towards good credit.
A credit rating ranks between 300 and 900. A good credit score is between 660-724.
If you do not qualify for a traditional mortgage based on your credit score, or have no or low down payment, the Bridge to Homeownership™ Program could be for you.
Why rent when you can own! Check out our EP Homes’ blog Rent to Own vs. Bridge to Homeownership™.
When international students stay in Canada and land a permanent position their compensation packages can vary.
Some roles may include a benefits package, while hourly jobs may not.
Jobs with benefit packages often require a probation period before employees are able to access them.
Some benefits have full coverage, while others only cover a certain percentage of a medical procedure or health service.
Those without insurance are more likely to report avoiding going to the dentist due to the cost and to have a pattern of emergency dental visits
Source: MNP Impact of EP Care on Dental Clinics
In any of these cases, obtaining financing for emergency wellness treatments such as: root canals, emergency dental work or even one-time cleaning and fillings is important.
EP Care provides an easy payment plan solution to manage health and wellness costs, so that you can get the treatment you need, when you need it.
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