Canada study permit: proof of funds

[Adi@911]

Hi all, I accepted the offer from Fanshawe college for a 2 year graduate certificate in business management - BMT1B starting May 2022. I will be applying my study permit under SDS category and have paid my 1st year fees plus a GIC of CAD 10000.

My question is,

1. How much additional amount should I show in bank balance or FDs while applying for study permit?

2. Can my maternal aunt along with my mother be my sponsors? My father has filed zero IT return and I do not wish to mention him as one of the sponsors. Is that ok?

TIA

 

[Adi@911]

Hi all, I accepted the offer from Fanshawe college for a 2 year graduate certificate in business management - BMT1B starting May 2022. I will be applying my study permit under SDS category and have paid my 1st year fees plus a GIC of CAD 10000.

My question is,

1. How much additional amount should I show in bank balance or FDs while applying for study permit?

2. Can my maternal aunt along with my mother be my sponsors? My father has filed zero IT return and I do not wish to mention him as one of the sponsors. Is that ok?

TIA

@selvakk

 

[Naturgrl]

Hi all, I accepted the offer from Fanshawe college for a 2 year graduate certificate in business management - BMT1B starting May 2022. I will be applying my study permit under SDS category and have paid my 1st year fees plus a GIC of CAD 10000.

My question is,

1. How much additional amount should I show in bank balance or FDs while applying for study permit?

2. Can my maternal aunt along with my mother be my sponsors? My father has filed zero IT return and I do not wish to mention him as one of the sponsors. Is that ok?

TIA

1. SDS requirements are met but if you can show any additional funds to pay your tuition and living expenses then that is good.
2. Yes, but you need to show your own funds too.

 

[Adi@911]

1. SDS requirements are met but if you can show any additional funds to pay your tuition and living expenses then that is good.
2. Yes, but you need to show your own funds too.

Hey, thank you for your response.

1. When you say about additional funds to cover tuition and living expenses, is that for 2nd year as my 1st year tuition is covered by Loan and living expense by GIC? My 1 year fee is around CAD 18k, so should I show an equivalent amount for 2nd year too along with living expense of 10k?

2. Can you also please suggest an approximate figure which we can show as proof, both my maternal aunt and me considering 1st year expenses are covered by student loan.
Thanks.

 

[Naturgrl]

Hey, thank you for your response.

1. When you say about additional funds to cover tuition and living expenses, is that for 2nd year as my 1st year tuition is covered by Loan and living expense by GIC? My 1 year fee is around CAD 18k, so should I show an equivalent amount for 2nd year too along with living expense of 10k?

2. Can you also please suggest an approximate figure which we can show as proof, both my maternal aunt and me considering 1st year expenses are covered by student loan.
Thanks.

1. Any additional funds are great. You have provided the amount required for SDS so you meet the requirements.
2. How old are you? If an adult, you should be showing the funds with support from your aunt.

 

[Adi@911]

I'm 28 now and have a study gap during which I was working. I will enclose my salary slips, experience letter along with bank statement but won't be able to show funds equivalent to my 2nd year fee all by myself. Can only show a small amount. Though with support from my aunt, it can be a substantial amount.

So the funds to be shown in bank statements/FDs be equivalent to the 2nd year fees or could be a lesser amount?
Can you please suggest approximately how much?

Thanks.

 

[Naturgrl]

I'm 28 now and have a study gap during which I was working. I will enclose my salary slips, experience letter along with bank statement but won't be able to show funds equivalent to my 2nd year fee all by myself. Can only show a small amount. Though with support from my aunt, it can be a substantial amount.

So the funds to be shown in bank statements/FDs be equivalent to the 2nd year fees or could be a lesser amount?
Can you please suggest approximately how much?

Thanks.

There is no perfect amount but you have to show funds to support yourself. You have showed the amount required for SDS. Funds are not the only thing considered in approving a study permit.

 

[Adi@911]

There is no perfect amount but you have to show funds to support yourself. You have showed the amount required for SDS. Funds are not the only thing considered in approving a study permit.

Noted. Thank you.

 

[Mnt]

Hello, I have a similar question, I’ll be applying under SDS along with my partner as a work permit. Having the GIC is proof for my funds only or it’s my partner too?

I recently got my regular study permit denied because of “insufficient funds”, because I actually didn’t had it on my own bank account, only on my partner and my father in law. I wish to try again with SDS as it’s a stronger form of financial proof, cause in fact I do have the funds.

 

[jp242]

Hi all! Just asking for your opinion on how strong do you think my proof of funds is:
1. Showed bank statements from my supporters (mom and dad) of about 8000 CAD
2. Bank loan approved in Sept and used it to pay for all my tuition, room and board and ancillary fees for the academic year
3. Showed proof of renewable scholarship of 7500 CAD which I receive half of every semester
4. Showed personal assets of 5000 CAD in a growth and maturity fund my grandma started for me (I'm not sure if this one will be taken into consideration as my grandmother who started the account has her name on the statement)
5. Sponsorship Letter from a local company dated Oct 6th (which practically is there to help with any expenses that my main supporters may not be able to provide which was stated explicitly in the letter) and a letter from the bank saying they can support me if needs be.

 

[Naturgrl]

Hi all! Just asking for your opinion on how strong do you think my proof of funds is:
1. Showed bank statements from my supporters (mom and dad) of about 8000 CAD
2. Bank loan approved in Sept and used it to pay for all my tuition, room and board and ancillary fees for the academic year
3. Showed proof of renewable scholarship of 7500 CAD which I receive half of every semester
4. Showed personal assets of 5000 CAD in a growth and maturity fund my grandma started for me (I'm not sure if this one will be taken into consideration as my grandmother who started the account has her name on the statement)
5. Sponsorship Letter from a local company dated Oct 6th (which practically is there to help with any expenses that my main supporters may not be able to provide which was stated explicitly in the letter) and a letter from the bank saying they can support me if needs be.

Is this your first application (if so were all other refusals addressed) and what school gives a scholarship? Personal funds are low depending on your age.

 

[jp242]

Is this your first application (if so were all other refusals addressed) and what school gives a scholarship? Personal funds are low depending on your age.

This is my third but before I got refused twice for personal assets and financial status, but those two times I did not pay the full tuition nor show as much as I have personally now. The sponsor is there for that reason: to help to boost funds I or my parents cannot source. I am 19 and I do not have a job. This is my second year in university...I did my first one online. The scholarship is from Lakehead University

 

[jp242]

This is my third but before I got refused twice for personal assets and financial status. However I am 19 and I do not have a job. This is my second year in university...I did my first one online.

Is this your first application (if so were all other refusals addressed) and what school gives a scholarship? Personal funds are low depending on your age.

Also on my latest refusal, I also got purpose of visit and a further explanation saying that they are not sure I'll be able to pay fees without working. Clearly I addressed the latter with full payment of everything for the year. The former I attached an SOP for it.

 

[Naturgrl]

This is my third but before I got refused twice for personal assets and financial status, but those two times I did not pay the full tuition nor show as much as I have personally now. The sponsor is there for that reason: to help to boost funds I or my parents cannot source. I am 19 and I do not have a job. This is my second year in university...I did my first one online.

Did GCMS notes state only financial status/personal assets? What university because if the program is 4 years old then your funds are very low. How will you pay the other 2 years. Letter from a bank shows VO that you can’t afford it. How can a company sponsor you if you are only 19.

 

[jp242]

Did GCMS notes state only financial status/personal assets? What university because if the program is 4 years old then your funds are very low. How will you pay the other 2 years. Letter from a bank shows VO that you can’t afford it. How can a company sponsor you if you are only 19.

I did not order GCMS notes so I am not sure. I am only going based off the correspondence letter. I am at Lakehead University and the sponsor will help me to pay for the other two years. Also, the only letter from the bank I have is the one saying that the sponsor can indeed help me. The sponsor is my dad's place of work... It is a proprietorship (one person owns it) and she is sponsoring me through her business (also stated explicitly in the letter).