I must have missed on that than. I would suggest you pay your tuition fee from loan amount which will be around CAD 13000. there is still an option which you can utilize, if this a genuine loan, ask your bank to disburse the amount. You can pay your tuition fee from bank loan and ask your bank to directly pay it to your college which they will gladly do. and for rest amount, ask them to disburse in your account and from there you can purchase GIC from it. However, in any case, if GIC needs to be purchased, Deadline for applying for GIC was 15th March for may intake.
Hope this helps.
Cheers!