Are paying full tuition and deposit more in GIC the sufficient financial support for non-sds application?

[HamBo]

Hi all,

I am a Chinese student studying in USA and applying study permit, so I cannot apply as SDS. My parents are self-employment and the transactions in their bank accounts have large amount in and out transactions but not good remaining balance. I wonder if I pay the full tuition fee for the whole program and deposit like 20k CAD into GIC account, do I still need any other financial supporting document like their payroll or bank statements?

 

[HamBo]

Hope you could help me

 

[wonderbly]

Since you are not applying for SDS, you still need to show proof of funds with bank statements. Where will the tuition fee and 20k CAD come from? Why can't you just show that source as PoF?

 

[HamBo]

Since you are not applying for SDS, you still need to show proof of funds with bank statements. Where will the tuition fee and 20k CAD come from? Why can't you just show that source as PoF?

Because my parents are self-employed which has no stable incoming payroll like normal employees and their bank statements have large amount in and out transactions. I am afraid that would affect VO's idea about the source of funds.

Based on my understanding, GIC can only be withdrawing monthly after I arrived in Canada physically and the tuition fee was not refundable unless the study permit application get refused. So they are definitely paid and not borrowed money. That means all my first year cost had been paid or being hold in Canada financial institution.

 

[wonderbly]

You didn't answer my question regarding the source of the money. GIC is a requirement for SDS. It can also be used for non-SDS but it doesn't mean you still won't show the source of where the money comes from. If your parents have been funding your studies in US and you have proof of that, that can help show the VO that your parents have the financial capacity to fund your tuition. Business accounts generally have high inflows/outflows so that's normal.

So yeah, you can pay tuition and open GIC, and that can serve as PoF, but as to whether the VO won't still want to see bank statements, no one can guarantee that.

 

[HamBo]

You didn't answer my question regarding the source of the money. GIC is a requirement for SDS. It can also be used for non-SDS but it doesn't mean you still won't show the source of where the money comes from. If your parents have been funding your studies in US and you have proof of that, that can help show the VO that your parents have the financial capacity to fund your tuition. Business accounts generally have high inflows/outflows so that's normal.

So yeah, you can pay tuition and open GIC, and that can serve as PoF, but as to whether the VO won't still want to see bank statements, no one can guarantee that.

My parents supported my US study at first but not recent years as I got financial support from my school these years.

 

[Naturgrl]

My parents supported my US study at first but not recent years as I got financial support from my school these years.

Do you have any personal accounts and not your parents’ business accounts?

 

[HamBo]

Do you have any personal accounts and not your parents’ business accounts?

I have personal accounts but only $5000 in it. I am 30.

 

[wonderbly]

30 is a tad too old to rely solely on your parents? i assumed you were young/minor.
What are you going to study in Canada and what school?
Have you ever worked?

 

[Naturgrl]

I have personal accounts but only $5000 in it. I am 30.

So you are 30 and can’t show your own funds. That is a big issue and your parents’ business accounts are not personal accounts.

 

[HamBo]

So you are 30 and can’t show your own funds. That is a big issue and your parents’ business accounts are not personal accounts.

I do not have any gap. I have not been worked as full time so I am not supporting myself. I am just graduating from my previous graduate program.

 

[Naturgrl]

I do not have any gap. I have not been worked as full time so I am not supporting myself. I am just graduating from my previous graduate program.

So you are doing a PhD in Canada?

 

[HamBo]

30 is a tad too old to rely solely on your parents? i assumed you were young/minor.
What are you going to study in Canada and what school?
Have you ever worked?

Never worked as full time. No gap. I just started my undergraduate study when I was 22 which is later than normal because of physical problem during my high school.

I am admitted by master program in UBC

 

[HamBo]

So you are doing a PhD in Canada?

Master but a different major from my previous one.

 

[Naturgrl]

Never worked as full time. No gap. I just started my undergraduate study when I was 22 which is later than normal because of physical problem during my high school.

I am admitted by master program in UBC

So what did you get a Masters in the US.