Study Permit Finance -- Questions !

[kaudilyan]

Hi I have been granted admission for masters in an University in Quebec province. I have got the CAQ approval as well.
I am about to file my study permit application and these are my queries :
*Is GIC mandatory ? I have a loan going to get approved for 20 lacs. Will that document be enough for visa process?
*Is it needed to pay the first year fees before visa processing ?
Bank will disburse loan amount only I provide them a valid visa approval document.
If I have to pay these in advance before study permit processing(GIC 6 lacs + first year tution fees 7 lacs), then this will come around 13 lacs, which is difficult for me to arrange in a short time.
Someone please let me know the details and processes.

 

[kool.keith]

Yes you need to pay for the first year tuition if you are applying from India

 

[Womic]

As far as I know the loan approval letter from the bank will serve as the proof for tuition. Other than that you need to show living expenses in your account. However, you should take a second opinion as well.

 

[Womic]

Also, if you are applying under SPP then GIC is a must.

 

[kaudilyan]

As far as I know the loan approval letter from the bank will serve as the proof for tuition. Other than that you need to show living expenses in your account. However, you should take a second opinion as well.

My first semester fees comes around 12000 CAD which comes around 6 lacs . So for 2 years it is 12 lacs.
Living expense for first year also 10000 CAD which is 6 lacs. Loan itself is 20 lacs. Is that not enough ?

 

[kaudilyan]

Also, if you are applying under SPP then GIC is a must.

I created a profile with GIC key. SPP is another scheme right ?
I think then it is better to go with SPP , but bank won't allow releasing the amount unless visa is approved. I am in a dilemma. All of a sudden gic and first year fee will be around 12 lakh rupees and I have very minimal bank balance as well as my parents.

 

[Womic]

As I said the bank loan approval letter might serve as proof for tuition. Have you consulted a consultant? You have to have 11000 CAD other than tuition for your Living expenses.

 

[CaesarReborn]

Hi I have been granted admission for masters in an University in Quebec province. I have got the CAQ approval as well.
I am about to file my study permit application and these are my queries :
*Is GIC mandatory ? I have a loan going to get approved for 20 lacs. Will that document be enough for visa process?
*Is it needed to pay the first year fees before visa processing ?
Bank will disburse loan amount only I provide them a valid visa approval document.
If I have to pay these in advance before study permit processing(GIC 6 lacs + first year tution fees 7 lacs), then this will come around 13 lacs, which is difficult for me to arrange in a short time.
Someone please let me know the details and processes.

1.) If you are going to a university, you cannot apply under SPP. It is university/general category.
2.) GIC is only mandatory for SPP. For university category, its not needed.
3.) Regarding tuition, check with university directly. Depends on them many times.

Depending on only loan and no other liquid money is not advisable. Try to get as much liquid funds as possible and take loan approval letter from bank/discuss with them regarding your situation.

Now please answer one question for me too -- Did you send any financial documents while applying for SPP? Was your offer letter conditional or unconditional?

 

[kaudilyan]

1.) If you are going to a university, you cannot apply under SPP. It is university/general category.
2.) GIC is only mandatory for SPP. For university category, its not needed.
3.) Regarding tuition, check with university directly. Depends on them many times.

Depending on only loan and no other liquid money is not advisable. Try to get as much liquid funds as possible and take loan approval letter from bank/discuss with them regarding your situation.

Now please answer one question for me too -- Did you send any financial documents while applying for SPP? Was your offer letter conditional or unconditional?

Only one condition mentioned was to send the official transcripts to the university and I have done that. I think that is enough.

 

[IKB]

which bank have u taken loan from ?

 

[CaesarReborn]

Only one condition mentioned was to send the official transcripts to the university and I have done that. I think that is enough.

Sorry, one typo :-\

Did you send any financial documents while applying for CAQ? Was your offer letter conditional or unconditional?

 

[kaudilyan]

No I didn't send any financial doc's for CAQ. Only condition mentioned was successful delivery of official transcripts from university.

 

[kaudilyan]

which bank have u taken loan from ?

Tried with Canara. They were taking so much time.
So went on with SIB

 

[kaudilyan]

1.) If you are going to a university, you cannot apply under SPP. It is university/general category.
2.) GIC is only mandatory for SPP. For university category, its not needed.
3.) Regarding tuition, check with university directly. Depends on them many times.

Depending on only loan and no other liquid money is not advisable. Try to get as much liquid funds as possible and take loan approval letter from bank/discuss with them regarding your situation.

Now please answer one question for me too -- Did you send any financial documents while applying for SPP? Was your offer letter conditional or unconditional?

Thanks. But the consultant I asked said it is mandatory to deposit GIC and pay first year fees. Is that so ? Or will the loan sanction letter be fine.

 

[kaudilyan]

Yes you need to pay for the first year tuition if you are applying from India

Hope this has to be done and I have no other go.