Queries regarding financial documents!

[Darshan143]

Hi,

I have applied for PG diploma in software engineering technician, Centennial college which is a 8 months course (Jan 14 intake). I am from India and i have applied for education loan which will cover the college fees and the money needed to be shown for financial support which will be later used by me to stay in canada.

Problem : My parents and i have no enough money to show for financial support purpose.

So i am planning to deposit the loan money in my account and show it as financial support.
If i deposit the money now, i have 2 months time before i submit my documents.

I am worried that my application would be rejected.
Any suggestions would be greatly appreciated!
Many Thanks!

 

[mead]

Hi,

I have applied for PG diploma in software engineering technician, Centennial college which is a 8 months course (Jan 14 intake). I am from India and i have applied for education loan which will cover the college fees and the money needed to be shown for financial support which will be later used by me to stay in canada.

Problem : My parents and i have no enough money to show for financial support purpose.

So i am planning to deposit the loan money in my account and show it as financial support.
If i deposit the money now, i have 2 months time before i submit my documents.

I am worried that my application would be rejected.
Any suggestions would be greatly appreciated!
Many Thanks!

I am assuming here that u will be applying under SPP
"PREFERRED OPTION
for proof of funds: you can fulfill the financial requirement by submitting a copy of an Educational Loan from an Indian Chartered Bank equivalent to at least first year’s tuition plus $10 000 CAD"
so u can attach copy of educational loan.
source SPP check list: http://www.vfs-canada.co.in/pdf/study_permit_20-09-2012.pdf
also read the following link too
http://www.cic.gc.ca/english/study/study-how-documents.asp#doc3
also for study permit information check out the following link
http://www.vfs-canada.co.in/visaapplication.html

 

[sabby2612]

Hi,

I have applied for PG diploma in software engineering technician, Centennial college which is a 8 months course (Jan 14 intake). I am from India and i have applied for education loan which will cover the college fees and the money needed to be shown for financial support which will be later used by me to stay in canada.

Problem : My parents and i have no enough money to show for financial support purpose.

So i am planning to deposit the loan money in my account and show it as financial support.
If i deposit the money now, i have 2 months time before i submit my documents.

I am worried that my application would be rejected.
Any suggestions would be greatly appreciated!
Many Thanks!

Under SPP:

You needn't show any financial documents after you have purchased GIC and have paid at least one semester's fee. Though in SPP loan you take from which bank or how you take it (education loan, personal loan) doesn't matter as you need not produce proof of funds. If this education loan you are talking about is genuine, get it disbursed and pay for GIC plus Tuition fee. That's it. You needn't even worry about parent's income (ITR). You needn't show it.

Please do check with your bank if they are okay with transferring funds to GIC (usually Indian public sector banks have issue with GIC, they don't have issue with disbursing loan and paying tuition fee, but they are fussy about GIC). Now, some banks even don't disburse loan amount unless visa is secured. now the dialemma is, it's is advised to apply with a disbursal letter not just with sanction letter. So do check with your bank.

Rest, refer to the links Mead is given you.

Best of luck.

 

[Darshan143]

Thanks sabby2612 and mead for your reply.