finances in letter of explaination

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I m accepted for a 3 year program as a full tie student for which 3 year tution fee is round about $22000 and living expenses for 3 years are $30000, however i have in my account in total $495000, out of which, $13980 are of my own, rest are bank loan, however we have some faily land and property, what should i show in my proof of means of financial support and what should be written in letter of explaination about this situation? please help

 

[neelpatel19071994]

I m accepted for a 3 year program as a full tie student for which 3 year tution fee is round about $22000 and living expenses for 3 years are $30000, however i have in my account in total $495000, out of which, $13980 are of my own, rest are bank loan, however we have some faily land and property, what should i show in my proof of means of financial support and what should be written in letter of explaination about this situation? please help

Dear it depends upon your file, whether it is SPP or Non-SPP/ University file.

If Your college is under SPP colleges,
you have to show GIC for minimum 10000 CAD and tution fees receipt provided to you by your college that you have paid.

For Non-SPP/University,

Though GIC is not compulsory, but it is the most safest option to convince Visa Office that you have enough balance to support your self in Canada

so for non-spp/university,

you have to show tution fee receipt given by your college and other means to show atleast 10000 CAD . You can show it by GIC, Education Loan Sanction Letter, Bank Statment Letter etc.

For your case, Though only receipt and GIC are enough but it should be advisable for you to put college fees receipt, GIC and Education Loan Sanction letter in your file. Because it is no harm to show more funds and as you have Edu Loan then show it.

And if your file is non-spp and you dont want to show GIC then just shoe receipt and Edu Loan sanction letter.
I also did same because my file was University file so I did show receipt from Uni for tution fees and Edu loan sanction letter.

 

[bibinchacko]

Hey,can you help with some doubts regarding finance.
1)Is it compulsory to show my fathers income proof.
2) I'm planning to take loan by placing my fathers property as collateral security,and it values 4th times more than of my actual loan amount, so is that enough for the visa process

 

[neelpatel19071994]

Hey,can you help with some doubts regarding finance.
1)Is it compulsory to show my fathers income proof.
2) I'm planning to take loan by placing my fathers property as collateral security,and it values 4th times more than of my actual loan amount, so is that enough for the visa process

No dear. It is not compulsory.
But as per minimum requirements, you have to show
1) 10000 CAD funds per person to support your self ( Best option GIC which is compulsory for SPP file. For non spp file you can also show Edu Loan Sanction letter instead of GIC)

2) Tuition fees receipt provided by colleg/University for confirming that u have paid fees to collge/university.

You can find more details in this link.

http://www.cic.gc.ca/english/study/study-how-documents.asp

 

[Ghanastud]

Good day, please i was denied visa last year for financial reasons for masters programs in Manitoba. I used my an Aunty as sponsor and the VO was not convinced by that hence the reason for denial.

I intend to reapply in April but this time will be using my dad as my sponsor. Will the change in sponsorship be an issue and how will i be able to improve my next application with regards to showing proof of finance as my dad is self employed and also the best way to package my application for easy scrutiny by the Visa officer. Thanks

 

[Loveey92]

Good day, please i was denied visa last year for financial reasons for masters programs in Manitoba. I used my an Aunty as sponsor and the VO was not convinced by that hence the reason for denial.

I intend to reapply in April but this time will be using my dad as my sponsor. Will the change in sponsorship be an issue and how will i be able to improve my next application with regards to showing proof of finance as my dad is self employed and also the best way to package my application for easy scrutiny by the Visa officer. Thanks

Hello. I will be lodging my visa soon with my relative sponsoring me. I am just curious about your case of refusal. How come they denied you with your aunt as sponsor? Isn't it okay to have blood related sponsor other than parents? If u don't mind, what did they tell you about them being not convinced? Thanks much. And nope. I personally think it wouldn't be an issue if you change your sponsor.

 

[Ghanastud]

Hello. I will be lodging my visa soon with my relative sponsoring me. I am just curious about your case of refusal. How come they denied you with your aunt as sponsor? Isn't it okay to have blood related sponsor other than parents? If u don't mind, what did they tell you about them being not convinced? Thanks much. And nope. I personally think it wouldn't be an issue if you change your sponsor.

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the visa officer officer in the gcms report said i didnt show proof of relationship. The issue if that my dad and his sister misplaced their the birth certificates so it was difficult t show relationship through other means. Hence, my decision to use my dad now