AMOUNT OF Education LOAN

[neha11985]

Dear Sir,

I am going for Sept 2012 , One year Project Management Diploma at Humber

Cost of course and living expense is :


CAD INR (@ exchange rate of 55/dollar)
Fees for Two semesters: $12800 Rs.704000
Books: $900 Rs.49500
Living Expense: $8000 Rs.440000
Total : $21700 Rs.11,93,500

80% amount of this $17360 Rs.9,54,800

I got loan Sanctioned for Rs. 8.5 Lacs against FDR of 10 Lacs

Now I have paid $6450 (CAD) i.e my first semester fee from my education loan and 15% from my saving account and got the disbursement letter from bank stating that 15% of $6450 is paid from my saving account and rest is from loan.

Now my question here is :

Ideally I feel my loan should have been ~ Rs 9.5 lacs. but my consultant told me that there is no problem as my loan terms are with 15% margin so 8.5 lacs would be sufficient.

Other saving we have

GPF of my mom : Rs 18lacs
Annual Income of 6 lacs + agriculture income


PLEASE LET ME KNOW AS PER THE EXPENSED MENTIONED ABOVE, IF MY LOAN AMOUNT 8.5 LACS is sufficient for SPP visa?

Thanks and Regards,

Neha

 

[happygarcha]

hi neha!
those are okay funds for spp.
you will surely get your visa ...
thx..best wishes for bright future..

 

[neha11985]

Plz reply....

 

[neha11985]

Plz let me know if my loan amount is sufficent?

 

[peep]

hi neha ur loan would be around 10 lakh it would be 80%of one year fee +living expenses $10000+travel expenses$3000
pay 1st sem fee from ur saving

 

[neha11985]

Hie... I have already paid first sem fee from Loan with 15% margin from my saving. Like my loan has 15% margin condition (which means 15% I would pay from my savings) so my consultant said that 8.5 lacs would be sufficient, though 80% amount works out to be Rs. 9,54,800. (This is as per SPP : 1 year fee + CAD $8000).

 

[peep]

thn it would be sufficient from where u have applied n ur consultant name? ?

 

[peep]

ahh grzz i have applied from wwics mohali best of luck for ur visa when will u submit ur file

 

[neha11985]

Thank you and Same to you..In 2 weeks or so I will apply

 

[peep]

for which course n college
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