+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445

loan and other enquiries

virtigo

Full Member
Feb 19, 2012
48
1
Hello.i got into sheridan college mississauga for september intake for the course computer systems technician.iam currently undergoing the loan processing.can anyone tell me how much money iam supposed to have in the bank as per new rules?
 

tiger007

Champion Member
virtigo said:
Hello.i got into sheridan college mississauga for september intake for the course computer systems technician.iam currently undergoing the loan processing.can anyone tell me how much money iam supposed to have in the bank as per new rules?
Hi,

Considering, you are a first time applicant... and as citizen of India, you will be applying under SPP, as Sheridan is a participating college under SPP.

Here's the official checklist of SPP category (fewer documents and faster visa processing):
http://www.vfs-canada.co.in/pdf/Student_Partners_Program_09022013.pdf

Acco. to this checklist:

Copy of receipts for tuition payment provided by the SPP institution.

Proof of funds: You MUST demonstrate the purchase of a special Guaranteed
Investment Certificate (GIC)
from a participating Canadian financial institution, in the
amount of $10,000 CAD to cover living expenses for your first year in Canada.
Please consult page 2 for information on how to obtain a GIC.

GIC: http://www.scotiabank.com/ca/en/0,,5698,00.html

That's it. You need to pay atleast 1st semester/term tuition fees (it's better if you pay 1 year/2 sem tuition fees) , attach payment receipts from college and purchase a GIC certificate of 10,000C$ for living expenses with your application package.

Doesn't matter..how you do it... pay by taking loan... or pay from your own pocket.... There's no need to show any official loan letter with your actual application package whatsoever.

Also, to strengthen your application... apart from whatever mentioned on the SPP checklist, it's highly reccomended that you write a short 1-1.5 page crisp to the point SOP, as to how and why this course will be beneficial for you, and for your career in long run, keeping in view your background.

Best of Luck.


***All opinions expressed are purely personal, and pieces of information mentioned are to the best of my knowledge... You should consult other sources too.
 

Can.ott

Hero Member
Feb 21, 2013
342
5
Job Offer........
Pre-Assessed..
Does it not effect if you show loan letter?
What about 2nd year fees? Does not he visa officer think "if he paying 1 st year fee by loan how would he pay the 2nd"??
Then how to convince that we will be back after the course?
 

tiger007

Champion Member
Can.ott said:
Does it not effect if you show loan letter?
What about 2nd year fees? Does not he visa officer think "if he paying 1 st year fee by loan how would he pay the 2nd"??
Then how to convince that we will be back after the course?

Hi,

Requirements for Indian citizens under SPP (only to selected colleges participating under SPP) is very simple, with least amount of documents and faster visa processing time.

As far as the 3 visa application categories for Indian citizens are concerned - SPP (only to selected colleges participating under SPP... can apply only once), UNIVERSITY (University students) and Generic (all other, repeat college applicants etc.)... the CHC is not concerned about the 2nd year fees or living expenses. Only 1st year fees+ living expenses is required to show in different forms in 3 of the categories. That's the main criteria. Although, one can show more funds... no harm.

Citizens of India need to show evidence of funds- only for 1st year fees+10,000$ for 1 year living expenses. This much is convincing enough for the CHC (even if the course is 4 years long). That's the rule.

See for yourself:
Official checklists for citizens of India:

SPP- http://www.vfs-canada.co.in/pdf/Student_Partners_Program_09022013.pdf

UNIVERSITY- http://www.vfs-canada.co.in/pdf/Delhi_study_permit_eng.pdf

GENERIC - http://www.vfs-canada.co.in/pdf/study_permit_20-09-2012.pdf




***All opinions expressed are purely personal, and pieces of information mentioned are to the best of my knowledge... You should consult other sources too.
 

vijai

Star Member
May 11, 2012
190
1
@tiger

then,what abt first year health insurance,books fee, etc charges? will they taken in to account while considering application?
 

tiger007

Champion Member
vijai said:
@ tiger

then,what abt first year health insurance,books fee, etc charges? will they taken in to account while considering application?
Hi,

Usually Miscellaneous fees+ Annual/ 2 sem Health insurance are covered within the total tuition fees. It will be mentioned on the offer letter. As for books, international students buy second hand/ used at pretty affordable rates. Books budget should be separate..and there's no need to show that in the application package.


***All opinions expressed are purely personal, and pieces of information mentioned are to the best of my knowledge... You should consult other sources too.