Experts..Please help

[meet0700]

Hi there,
I am currently residing in New Zealand as a student. Its been 1.5 years over here and now I wanna pursue a 3 year advance diploma for May intake in Canada. I got offer from Seneca and Humber. I'll pay my tuition of 1st semester which is around $7k and GIC of $10k and apart from these, I need to show $7-10k more but I do not have any old money. Can I show a bank statement holding that much amount for a month because it is completely impossible for me to show 3 months old funds.
-I have also got some properties back in India but under my father's name.
Looking forward to hear back from any experts. Help me with this as much as you can. Appreciate your time to have a look on my query.
Thanks in advance.

 

[meet0700]

Is there anyone to help me with this???

 

[chrbrow]

Hi,

I am looking at some options for you. Give me a bit of time. I believe that the financial bit is pretty straight forward. So long as you can prove money in your name and meet the minimums, you should be ok. Also, what ties to India can you prove? Most applications will be rejected on the basis that the officer is not convinced you intend to return home. By the way, you are coming from NZ, so that is already going against you (officer is inclined to think you're a traveler, not a student.) Prove to me that you only intend to come to Canada to study. What case would you make? Can you prove that your life is in India? Do you own any assets in India? Jobs, car, family, previous schooling. Without a strong connection there will be no chance. Lets hear more info please.

C

 

[meet0700]

Thanks for your reply. As I have already mentioned, I got some properties but under my father's name. 4 properties at different places and then I have a part time job in a reputed firm over here. I do not have any problem with my first sem fees and GIC. The main problem is rest of the funds are not old and thinking of submitting 1 month statement of NZ bank account under my name.
Thanks

 

[chrbrow]

Well from my limited research, the money just needs to be in your name, and accessible. I would be more concerned that your bank account is NZ and not India. They will consider your ties to NZ as part of your application.

 

[meet0700]

Thanks for your help. Yes, NZ bank account is under my name. I am looking forward to deposit the remaining amount for a month and then get a bank statement for that and submit to CIC.
Thank you

 

[meet0700]

Hi again,
In addition to my previous query, I just need to get information regarding 3 months bank statement.
I need to get my proof of funds sorted for May intake. My question is:
If I show a bank statement from 15th of Dec to 15th of Feb, would it be considered as a 3 months bank statement? Because according to the dates, it is just 2 months, but that deposit will remain in the bank for Dec, Jan and Feb.
Little bit tricky, but looking forward to hear back from you guys.
Any type of help would be appreciated. Thanks for reading.

 

[meet0700]

Experts?
Is there anyone to solve this matter?
Any idea?

 

[chrbrow]

Hello again,

I am just looking up the regulations on study permits and the financial component states that applicants must show "1 full year" of tuition. You mentioned that you've paid the first semester. I'm not sure if you mean 1st year? Can you clarify please. in addition to the tuition being paid you will also have to show 10K for living expenses.

Also, the regulations also state that the officer can use discretion in assessing the documents you provide. If you are considered a low-risk applicant, or one whom possesses, or has access to lots of money, then the officer may not ask to see all your documentation. (In practicality this means if you can prove a lot of money right away he will likely just pass judgement right away).

Just to clarify your last question: You say you need information regarding your 3 month bank statement. Where have you the idea that the statement needs to be 3 months? I cannot find any reference to a time frame for financial documentation.

C

 

[meet0700]

Thanks for replying bro.
First, my 1st semester and GIC fees will be paid (7,000 1st semester + 10,000 living). I am worrying about the rest (7,000 2nd semester + other expenses). The estimated total would be around 10,000$.
If I keep these 10,000$ in my bank from 15 Dec to 15 Feb, would these be considered as old funds?? Because CIC does not accept new funds.
At last, I have read somewhere (CIC) that the funds should be 3-4 months old and have recently talked with a lawyer and he is also asking for 3 months bank statement.
If you are not sure or have not heard about 3 months rule, Just give me your opinion considering following options:
GIC (10,000) paid
1st semester (7,000) paid
Papers of 4 properties under my dad's name in India.
- Just confused about the rest. Would it be beneficial to keep 10,000 in my bank from 15 Dec to 15 Feb?
Thanks

 

[chrbrow]

OK, thank you for clarifying the issue.

Again, I can only advise you on what the regulations say and that is that you must be able to prove you have the funds for 1 year of full tuition, 10K living, and travel costs. It also mentions that the degree to which you will be scrutinized for proof of this is directly related to your asset level. It sounds like you and your family have a lot of money, and that can be proven, so I think you will be fine. As for that 3 month rule, I guess this rule is in place to prevent applicants 'faking' their money level by borrowing money just to show, then taking it back. One sure way to avoid this assumption is to pay your full year tuition in full, right now. Have you thought of that option?

Also, are you willing to tell me where the money came from and why it isn't shown for three months? Did it come directly from your parents? If yes, then this could be good for several reasons: 1) it lends more evidence that you intend to go back to India after your studies, and 2) that the money is legit in the sense that you're not faking it.

C

 

[chrbrow]

I've only found reference to a guideline to show bank statements for the past 4 months. It doesn't mention that these bank statements have to have the total amount in them, just that they are provided. I assume this is because it is used to pass judgement by the officer, so it is not a cut and dry thing, but rather used to gather evidence in the approval process. Again, I think you'll be good if you can show the money is coming from a trusted source such as a family member. In this case, it might be wise to get proof of where the money came from. Hope that makes sense.

 

[meet0700]

Thanks for your valuable reply.
The funds are coming from my relatives who live in an another country. But for some reasons, they cannot sponsor me. So, the only option I have left with is to deposit that money in my bank and make those funds old.
The tuition fee which is stated on my offer letter is just for one semester as they are not sure of an accurate amount for next semester. Even I am not willing to pay the whole tuition.
Since most of the amount will be paid, I do not think that they will completely focus on those remaining funds for next semester fee. It is just my opinion.
Thanks

 

[chrbrow]

OK, well it looks like you have a solid grasp of the situation. Just let me leave you with one bit of advice, if you in any way misrepresent yourself, on purpose or not, you will become inadmissible under the law and will have to wait 6 months to reapply. So I do not recommend trying to make anything 'seem' as something it is not. Also, the law states that if your tuition is paid in full, there is no need to provide additional evidence of funds aside from the 10K living expenses. Again, if you're worried about this, I would contact the university and see if they will allow you to pay out your academic year in full. If the officer has any suspicion that you a) don't have enough money to pay for schooling, or b) do not intend to enroll for a full year, he will reject you. Good luck bro.

 

[meet0700]

Thanks bro.. Appreciate your help..