Personal loan to collect some funds

[ksv007]

Hello everyone,

I am planning to take out a personal loan to demonstrate that I have additional funds, in addition to the funding letter (approximately CAD $27k) issued by my enrolled university. I intend to use the personal loan, deposited into my salary account, to provide financial support for the initial one and a half months, as well as for travel expenses. Currently, this is the only viable option for me to gather some funds, as I do not have any savings at the moment.

Would this be an acceptable approach, or are there alternative methods to legitimize the personal loan funds for presentation? I am facing confusion on this matter and would appreciate your suggestions.

 

[Naturgrl]

Hello everyone,

I am planning to take out a personal loan to demonstrate that I have additional funds, in addition to the funding letter (approximately CAD $27k) issued by my enrolled university. I intend to use the personal loan, deposited into my salary account, to provide financial support for the initial one and a half months, as well as for travel expenses. Currently, this is the only viable option for me to gather some funds, as I do not have any savings at the moment.

Would this be an acceptable approach, or are there alternative methods to legitimize the personal loan funds for presentation? I am facing confusion on this matter and would appreciate your suggestions.

You can use a loan.

 

[ksv007]

You can use a loan.

I read some threads where it was mentioned that the Visa officer does not accept personal loans because it involves borrowing money from a bank, and the EMI is deducted shortly after the loan is disbursed.

 

[Naturgrl]

I read some threads where it was mentioned that the Visa officer does not accept personal loans because it involves borrowing money from a bank, and the EMI is deducted shortly after the loan is disbursed.

For Proof of Funds, it lists loans.

 

[ksv007]

For Proof of Funds, it lists loans.

Did they mention personal loan or education? An Education loan and personal loan are different. I am asking whether they would they approve the visa application with personal loan just to show some amount for the initial one and half month.

 

[Ross88]

Another day, another student careening into oblivion coming to Canada with negative net worth.

 

[ksv007]

Another day, another student careening into oblivion coming to Canada with negative net worth.

I am asking for suggestions, not sarcasm, so if you have one, please give it; otherwise, there's no need to reply

 

[Ross88]

Here's a suggestion: don't use loans to fund your studies in Canada. You're gonna have a bad time!

 

[ksv007]

Here's a suggestion: don't use loans to fund your studies in Canada. You're gonna have a bad time!

Okay, thank you