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showing funds by taking loan

hatice

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Jul 5, 2014
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can i take loan on my house and then shown to embassy for my student visa? I will be going for masters,please someone clear that issue,
initially i was thinking to sold my house to show 45,000 cad dollars to get my study permit. what are options for me.
 

Pilot_to_be

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Apr 7, 2015
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I have the same issue guys. I have the fund for the total tuition fee but i do not have the extra 10K CAD needed for the first year. Should i take a loan to secure the other funds i need or this is not seen as a positive thing from the VO.

Kindly advice us
 

EVIL007

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Sep 22, 2014
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No need to sell ur house. Education loan is fine, majority of students go for the loan. It is not a negative point. Don't worry about it.
 

yogesh19921

Full Member
Aug 19, 2014
27
3
EVIL007 said:
No need to sell ur house. Education loan is fine, majority of students go for the loan. It is not a negative point. Don't worry about it.
What is the exact process ?
Could you please clear my following doubts.

I have been accepted for ms in computer science at Dalhousie university. But my undegrad is in mechanical. Can you please guide me through visa process regarding following points.

1. My father is retired Army personnel. So for financial proof i will be going for a loan. What all documents do i need to show regarding financial documents after taking loan for visa processing. I cannot show income tax returns for this year as he is now retired.
2. Is there any chance of visa rejection only due to change of field of study.
3. Could you please send me the list of documents that you attached for the visa process.

I would be grateful if you could please help me with the same.

Thanks
 

hannahmay

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Jan 29, 2015
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Hamilton
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Typically as long as you have been accepted to the University based on your credentials, they shouldn't reject your application based on what you previously studied (although I've read about it before based on unauthentic-looking applications).

The processes differ a little depending where you are applying from, but you need:
The official acceptance letter from the university.
Proof of first year tuition and 10k living funds. (A loan works, personal bank statement showing the funds actually in your account or the account of someone who is paying for you, preferably with a letter from them stating the money is for you)
Valid documentation (passport, photograph etc.).
And of course, the actual application you need to fill out.

It is better to complete the process online on the CIC website. It is quicker and easier.

My application was just approved with my funds coming from a loan, so it will work as long as the rest of your application is authentic and is enough for them.
 

Pilot_to_be

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Apr 7, 2015
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Thank you for the answer hannahmay

Actually i am planning to take a loan and secure it with my current deposit but my concern is that the immigration will request documentation regarding the loan and how i secured it.
In case i get an affidavit of support from my fiance should i provide even other documents to show that this person is my fiance?
 

hannahmay

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Jan 29, 2015
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Hamilton
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It's a similar case you were asking if they refused you because of your previous academic credentials - I doubt they'd bring up HOW you got the loan, when you were already approved for one. It is the banks business how you were able to get the loan, not exactly the immigration office. Unless they wanted a police background check on you for some reason.

I'll give you my own case, it may help ease your mind:

I was inside Canada on an extended visitor visa and I live with my Canadian fiance on this (I am from the UK). I applied for a student loan through a bank inside Canada, but was only allowed to do so with a Canadian guarantor - who was my fiance. I was accepted for the loan. I applied online through CIC, showed proof of my loan (the contract signed by the bank and myself, which showed the funds I was granted). For extra proof of financial support, under the Letter of Explanation section I wrote and signed a letter explaining my fiance is supporting me with a home and food until I am legally allowed to study/work and said if they needed proof of his wage they can ask and we will provide upon request. I also got my fiance to write a short letter (with signature) confirming our personal relationship and living arrangement. At that point we did not provide anything else (besides my university acceptance letter and the application form and passport documents etc), and I was accepted.

Really, at the first point of applying you just need to supply what is asked for on the application. Read it carefully, and if you feel anything differs in your own personal case somehow, just explain it on an additional document. If they want anything else, they SHOULD contact you and ask. You may be unlucky and get declined straight away if anything is out of place, but my own application was "different" yet I was accepted with no complication.
 

Pilot_to_be

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Apr 7, 2015
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My concerns and requesting to give to the immigration all these additional documents is because my country is a designated country for immigrants and i have to show strong ties to my country.
It is a long time i am searching over the web for stories of pilot students that get the visa refused but till now i have noticed only one.
Even though the school i have been accepted is assuring me that i do not have any issues and probably i will get the visa, still i am concerned regarding the extra funds i need to show sufficient proofs for the total duration of my course.
 

abin278

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May 18, 2016
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11-11-2016
Hi,
I have taken Personal Loan against FD instead of Education Loan. (14.4 lakh indian rupee sanctioned). Is it necessary that the loan needs to be education loan??
This is my loan sanction letter... Will it count as a valid proof of fund????????