Financial Proof for Study Permit

[dontknow1987]

Hi All,
I have been accepted for Uni of Toronto for 2 year full time MBA. The total expense for the program is
Tuition CN $100K
Living expense CN $40k
The question now is,how much do i need to show for visa purpose? $140K is a big sum and its unusual for Indians to have this much of money at a time.I have heard but not confirmed that i need to show only 1st year( tuition fee + living expense) + travel cost.

Also, Whatever is the amount i need to show, can i provide proof of fund via Sponsorship by friend/uncle/blood relative? Are there any eligibility condition to become sponsor?

Will really appreciate your inputs.

Cheers,

 

[maan2010]

Hi All,
I have been accepted for Uni of Toronto for 2 year full time MBA. The total expense for the program is
Tuition CN $100K
Living expense CN $40k
The question now is,how much do i need to show for visa purpose? $140K is a big sum and its unusual for Indians to have this much of money at a time.I have heard but not confirmed that i need to show only 1st year( tuition fee + living expense) + travel cost.

Also, Whatever is the amount i need to show, can i provide proof of fund via Sponsorship by friend/uncle/blood relative? Are there any eligibility condition to become sponsor?

Will really appreciate your inputs.

Cheers,

hi
just follow d rules

First year Tuition fee + living expenses(one year) + 3K(ticket expenses)

all d best

 

[nazia2k]

Blood Relative is preferred. Siblings and parents.

 

[iluvcanada77]

Hi All,
I have been accepted for Uni of Toronto for 2 year full time MBA. The total expense for the program is
Tuition CN $100K
Living expense CN $40k
The question now is,how much do i need to show for visa purpose? $140K is a big sum and its unusual for Indians to have this much of money at a time.I have heard but not confirmed that i need to show only 1st year( tuition fee + living expense) + travel cost.

Also, Whatever is the amount i need to show, can i provide proof of fund via Sponsorship by friend/uncle/blood relative? Are there any eligibility condition to become sponsor?

Will really appreciate your inputs.

Cheers,


Hi,

You definitely don't need to show all that money. I came to Canada as an international student myself for my undergrad in 2004. My yearly tuition plus living expenses were about $40,000. All I did for proof of financial means was submit my Dad's bank statement (which only had about $30,000), I also submitted his work contract which showed his monthly salary of about $7,000 per month. Many times I renewed my study permit and his statement showed around $10,000. In addition, my dad was already paying my sisters tuition here which was about the same cost.
So all in all, whoever is paying your tuition (preferably blood relative) doesn't need to have all that money in the account. I guess what really matters most, is your ability to demonstrate that your coming to Canada with the sole intention to study, and be able to take care of yourself while here. Land titles, houses you own and rent out, work contracts et.c do the job. Fat bank account is definitely a plus.

 

[Shoaib Akhtar]

Every thing is fine just give it a try now

 

[Danish_tensed]

Hi Guys and gals,
I am also having proof of funds issue, how much do I have to show in my bank account and how, I have not maintained my bank statement but my consultant is saying that if I enclose a bank draft i.e pay order of my total tuition fee of 5 years + C$10k + C$2k. I dont have such a huge amount, tell me what to do.

I have been accepted in Memorial University of Newfoundland for Bachelor of Commerce(Co-op).

I will be waiting for responses from you people.

Regards,
DANISH YOUSUF

 

[nazia2k]

Who is your consultant? Cuz he is a money scam. If you want help, learn to read posts. Your question has been answered above. First year tuition fees+10k living expenses+6000 airfare. Probably, you will show around $30,000 in your account. This amount should be maintained in your account from the last 4 months .

 

[nazia2k]

Avoid this pay order, bank draft Crap. Just transfer money in your account and show bank statements from the last 4 months . Let's suppose, if you have not transferred money at all , going to transfer in April. You will show statements from April, may, June , July . From the time you transfer money till filing your visa application, bank stAtements should be 4 months old.

 

[Danish_tensed]

Yes, I have got your point for proof of funds I just reconfirmed it. Thanks!

 

[dontknow1987]

Guys thanks for your inputs.
I have another doubt

Since the MBA program cost is $1,50,000.
Here is what i intend to show for visa purpose
Personal Liquid Cash(mine + parent's) : $78K
Domestic Loan(From the country of my birth with) : $34k
Canadian Loan: $40k
Total $ 152K

The questions i have here
1) Is it okay to show two loans (the loans dont have the same collateral pledged so they are both legal)
2) Do my parents need to provide an affidavit sponsoring my education?


Will really appreciate your inputs.

Cheers,

 

[romakhalil]

Dear Frnds I'll also b applying for study permit...
I have sold a plot for around $20K and i'll take loan from bank against this money which is almost $19K i'll keep them both in one account and will show a combine statement of $20K+$19K= $39K
my yearly fee is $10K + $10K yearly expense + $3K extra
Will this work???

but these will b in my father's (Sponsor) account for a max of 1month will it b ok?

 

[lonesoul]

Dear Frnds I'll also b applying for study permit...
I have sold a plot for around $20K and i'll take loan from bank against this money which is almost $19K i'll keep them both in one account and will show a combine statement of $20K+$19K= $39K
my yearly fee is $10K + $10K yearly expense + $3K extra
Will this work???

but these will b in my father's (Sponsor) account for a max of 1month will it b ok?

No.You need to maintain them constantly over a period of 4 months.Applying before that would be needless.

 

[gm2011]

Re: student visa rejected,will apply again,,,good idea?

No it will not work needs to be in your named account for minimum 4 months. It seems your dad does not trust you with his money if he is keeping it in his account?! And not in your name!

 

[jigzyy]

I have similar kind of issue... I had my money deposited in my wife's account for over 10months.. It was around $17k.. I was planning to apply for her as well as dependent but got to know from this forum that I might face home tie issue.. So I transferred all these funds to a joint account.. I am planning to attach last 6 months of previous account + new accounts statement (1 month old now) with a cover letter explaining everything.

Other than this, My mother have saving certificates (National Saving Center) of about $19k which are purchased over the period of 3 years.. Last one was in June 2008.. I can have xerox copies of those certificates to be attached with my application..

What should I do??

I have two options:
1-----------------
Mums Certificate ........... $19k
My Bank Balance ........... $25k (2 different accounts)
TOTAL ............................ $42k

2-----------------
Mums Certificate ........... $19k
My Bank Balance ........... $6k (1 account)
TOTAL ............................ $25800 (approx)


Total Funds that I need to declare is: $25200 ($12200 + $10000 + $3000)


What should I do?? Classes are in september!!

No.You need to maintain them constantly over a period of 4 months.Applying before that would be needless.

 

[romakhalil]

as I have mentioned that i have sold plot for this purpose. If i attach cover letter along with the statement explaining all the detail of the money that where did they come from and when did they come to the account...

2ndly my father is sponsoring me so isn't it fine? and f hes sponsoring me thn ths will b hs acount nt mine rite?

Regards