Credit cards outstanding balance before filing for study visa

[Sam940]

do we have to clear all credit cards outstanding balance if we're going for studies in canada? And any other loan you've taken in the account you're going to show in the study visa?

 

[Anchal:]

do we have to clear all credit cards outstanding balance if we're going for studies in canada? And any other loan you've taken in the account you're going to show in the study visa?

Loans and credit cards outstanding have nothing to do with your Visa whatsoever. As long as you are showing GIC and fee receipts, you should be good with it, in case you have taken a study loan then loan papers are required to be shown.

 

[Sam940]

So while filing for visa we don't have to attach bank statements?

 

[andrews17]

So while filing for visa we don't have to attach bank statements?

You must attach bank statements for savings accounts or any money that you have available to be used. Credit cards are not considered.

 

[Anchal:]

So while filing for visa we don't have to attach bank statements?

For a student visa, this isn't required as long as you have attached fee receipt and GIC certificate.

 

[Sam940]

Thanks so if I've taken a personal loan in the account that I'll show in the visa for savings, do I have to mention that I've taken a loan and if I'll have any kind of issue?

 

[Anchal:]

Thanks so if I've taken a personal loan in the account that I'll show in the visa for savings, do I have to mention that I've taken a loan and if I'll have any kind of issue?

You don't have to really show your account statement for a study visa, so basically if you have taken a loan to pay your fee, then you don't really have to mention that. Bank statements are typically shown during PR and SOWP applications because Canadian high commission wants to see if you have ample funds to support your initial stay in Canada until you have secured a suitable job but with student permit, it's totally different because of GIC that you have already paid to support you during your studies. Hope that helps!

 

[Sam940]

You don't have to really show your account statement for a study visa, so basically if you have taken a loan to pay your fee, then you don't really have to mention that. Bank statements are typically shown during PR and SOWP applications because Canadian high commission wants to see if you have ample funds to support your initial stay in Canada until you have secured a suitable job but with student permit, it's totally different because of GIC that you have already paid to support you during your studies. Hope that helps!

Thanks for the info