Means of financial support - 1 or 2 years needs?
- Thread starter jimmyM
- Start date
Financial sufficiency
Students are required to demonstrate financial sufficiency for only the first year of studies, regardless of the duration of the course or program of studies in which they are enrolled. In other words, a single student entering a four-year degree program with an annual tuition fee of $15,000 must demonstrate funds of $15,000 to satisfy the requirements, and not the full $60,000 which would be required for four years. Officers should be satisfied however that the probability of funding for future years does exist (i.e., parents are employed); scholarship is for more than one year. Applications for extensions made to CPC-V must also meet this requirement.
In assessing the adequacy of a student’s financial resources, officers may exercise discretion in the documentation they request from applicants. In situations where student applicants generally pose a very low risk regarding funds, officers may choose to limit or waive routine requirements for documentary evidence. Low-risk applicants are more likely to be exempted from the requirement to obtain a temporary resident visa. Based on the known incidence of indigent and non-bona fide applicants, reliability of financial documentation, and so forth, individual visa offices are best placed to determine whether routinely requiring banking documentation and/or more extensive financial background information is necessary to ensure program integrity. Students from developed countries who are both visa exempt and from socio-economic backgrounds similar to Canada might only be required to state their available funds.
Conversely, in some very high-risk environments, requiring and systematically verifying substantial history of funds and supplementary individual or family financial and employment documentation may be necessary to ensure that only genuine students capable of supporting their program of studies are accorded study permits.
Officers may take into consideration such sources of funds derived through scholarships, fellowships, assistantships and the like, as well as financial support or support in kind that may be available from relatives in Canada. International students in Canada are ineligible for benefits under the Canada Student Loan program.
Assessing available resources
All provinces except Quebec
The following base amounts will help to assess financial sufficiency. The base amount for students includes all requirements related to transportation and maintenance, including the cost of books, equipment, and supplies. The size of the community where the student is destined is not a consideration. Some provinces are examining the possibility of imposing fee differentials to children accompanying parents who are in Canada for study or work purposes. Officers should keep abreast of future changes when assessing funds required for the family stay in Canada.
- Student base: $10,000 for twelve-month period, prorated at $833 per month, plus cost of tuition.
- Spouse/common-law partner/first family member base-$4,000 for twelve-month period prorated at $333 per month.
- Dependent child/subsequent family member base-$3,000 for twelve-month period per dependent child of any age, prorated at $255 per month.
Source : https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/operational-bulletins-manuals/temporary-residents/study-permits/assessing-application.html
Thank you so much.
My visa was rejected because of financial status.
First year tuition is 16K CAD .. I provided bank statement with 40K CAD !!!!
Program is for two years total tuition is 26K CAD
My own bank statement. I have three accounts in the same bank, current,two saving accounts, one in qatari riyal and another in USD. Total amount equates to 41K CAD.
I did, waiting for it.
Point is, i put in application form 80K CAD and provided bank statement with 41K CAD and in letter of explanation i mentioned that by January i will have extra savings and end of service benefit aprox. 40K CAD more. which is total 80K CAD
Could it be a mistake i did in application form to mention 80K CAD?
Are you a Qatari citizen? If not, I'd guess your refusal was more due to applying from outside your home country. Foreign workers in the GCC countries are very commonly refused because they have poor ties to home.
A TRV is different from a study permit; you will be in Canada longer and may develop stronger ties here than to your home country.
Could be a generic reason.
Order GCMS notes as mentioned above, then you'll have a clear look as of why your application was rejected.
It's always advised to show whole amount of tuition, you used your account and didn't have the whole tuition+living expenses. If I was the VO, I'd question how you're gonna fund the rest of your stay in Canada even tho you had enough money for the first and second year.
26+10 each year for expenses = $ 46,000.
That could've been an issue.
Again apply for GCMS notes.
I too was a resident in GCC, had no personal savings, used my brothers account.
Approved.
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Which program you applied for?
What papers you provided for using your brothers account?
Well you did go back.
So it doesn't look like overstaying would've been an issue.
What's your profile ?
I used his cert of employment+ bank statement+declaration that he's supporting entire stay.