GIC Revised GIC to $20000 CAD

[yoyo555666]

You will have to pay your first semester fees before reaching canada. For example, for me in Humber college my first semester fees is due on June 15th 2019. If I don't pay this then I will lose my seat. Since this is before the program starts I will have to pay this in India.

My second semester on the other hand is only due on Jan 2020. I can pay the second semester in Canada.

Once you reach Canada, your GIC will be deposited to your Canadian bank account in monthly deposits for 12 months. You can use that to provide some money for tuition or all of the tuition money. Once the money comes to your account, it is yours to decide what you want to do with it.

last question, as of now 1 year fees is mandatory to deposit but when GIC get $20000 we should have to pay 1 year fees or is it ok to pay one semester fee in India?

 

[selvakk]

last question, as of now 1 year fees is mandatory to deposit but when GIC get $20000 we should have to pay 1 year fees or is it ok to pay one semester fee in India?

As of now it looks like you will not need to pay 1 years tuition fee upfront in the new proposed rules. In fact they do not require proof of tuition payment. So, you need to pay only what the college asks you to pay. The minimum is one semester's fee in most colleges.

 

[ivyivy]

Most updated: with GIC $20,000 they will give you maximum $8,000 as soon as you get to Canada in order to pay for your tuition fee later if you want to.

 

[bhupiister]

As of now no information has been given by IRCC, only by two agencies (IDP and Canam). I am sure it is only certain banks are increasing how much of money you can put into a GIC.

Yes i have also got the same news from the same agencies. It will be implemented from 1st of April.

 

[Ditibhanot]

As of now it looks like you will not need to pay 1 years tuition fee upfront in the new proposed rules. In fact they do not require proof of tuition payment. So, you need to pay only what the college asks you to pay. The minimum is one semester's fee in most colleges.

Proof of tuition fee as in ?? What does that mean

 

[selvakk]

Proof of tuition fee as in ?? What does that mean

Proof that you paid the fees, like fee receipt.

 

[sukhreetsinghrai057]

Proof that you paid the fees, like fee receipt.

can you tell me is it officially announced?

 

[AmrinderK]

what is in my case? I have already paid my first year fees , do still I need to buy 20k GIC,if that is the case then I would be facing problem of shortage of funds, what would be better in my case? according to my agent, she is advising me to buy GIC after April.

 

[selvakk]

can you tell me is it officially announced?

Not yet officially announced.

 

[amy333]

what is in my case? I have already paid my first year fees , do still I need to buy 20k GIC,if that is the case then I would be facing problem of shortage of funds, what would be better in my case? according to my agent, she is advising me to buy GIC after April.

if u have paid your one year fees then you should apply for visa before 1st april with $10000 gic . because no one knows what will happen after 1st april. or may be you have to pay $20000 gic .and u also cant refund that 2nd semester fees ..which u have already paid.

 

[selvakk]

what is in my case? I have already paid my first year fees , do still I need to buy 20k GIC,if that is the case then I would be facing problem of shortage of funds, what would be better in my case? according to my agent, she is advising me to buy GIC after April.

I would suggest you get the GIC before April and apply before April to be on the safe side. You have already paid the fees, so it would be safer to get the GIC and go for the visa now

 

[sukhreetsinghrai057]

I would suggest you get the GIC before April and apply before April to be on the safe side. You have already paid the fees, so it would be safer to get the GIC and go for the visa now

what if i pay fees and get GIC done in march and my file will get submitted after 1 april?

 

[selvakk]

what if i pay fees and get GIC done in march and my file will get submitted after 1 april?

I don't know as no official information has come.

 

[Ditibhanot]

Alright Thankyou
So what will be beneficial
To apply right now or in April itself

Proof that you paid the fees, like fee receipt.

 

[selvakk]

Alright Thankyou
So what will be beneficial
To apply right now or in April itself

If you already paid GIC and/or 1 year tuition fees then it is better to apply before April to be on the safe side.

If you have not paid anything then it does not really matter what you do, if you are sure you can get it done in this month the do it. Otherwise wait till official information comes.