Self financing - Need advice about Proof of funds

[sharmad]

I am from India. I am going to apply for Sept 2017 intake for 1 year PG diploma course. I am myself financing my study expense throughout the course. I have almost Rs. 9 Lac savings as i am working for almost 6 years and i am eligible to get Rs. 7.5 Lac to 9 Lac education loan. So the total fund would be 16.5 to 18 Lac. My question is, if i mention this in my SOP that i am supporting my expenses through my savings and education loan then i still need a sponsor from my family?

 

[sgsiri]

Hi,

If you can prove that you have funds for entire tuition fee and at least CAD 10,000 for living expense then you don't have to show sponsorship letter.
My advice is, before applying for study permit
1. Pay at least 1 sem fee. Pay entire course fee if possible or show loan sanction letter that covers entire course expense
2. Buy a GIC worth 10,000 CAD
3, Show funds worth approx 4,000 CAD for misc expenses (air ticket to and fro, book expense etc...)

If you can achieve this. You are done with proof of funds

Good Luck!

 

[Gymguy]

Hi,

If you can prove that you have funds for entire tuition fee and at least CAD 10,000 for living expense then you don't have to show sponsorship letter.
My advice is, before applying for study permit
1. Pay at least 1 sem fee. Pay entire course fee if possible or show loan sanction letter that covers entire course expense
2. Buy a GIC worth 10,000 CAD
3, Show funds worth approx 4,000 CAD for misc expenses (air ticket to and fro, book expense etc...)

If you can achieve this. You are done with proof of funds

Good Luck!

Hi sgsiri,

Since you seem to be hands-on with the funds part, I have a question :

- In IMM 1294 form in : The cost of my studies will be 1) Tuition 2) Room and Board 3) Other
Q : Do we need to fill in the total cost or of the first year only if it's a 3 year course

In my case My consultant filled up the first year only and I think I was lucky that I wasn't refused or maybe it's the right way

- In the funds available for my stay, my consultant totalled the 3 above which I am sure was wrong but again I was lucky.

So any idea about the right way for a 3 year course. I have seen previous threads and contradictions galore.

Anyone besides Sgsiri for inputs will be highly appreciated.

I have gone through the guides (5269)as well and in there it says total. In 5483 E it says for proof of financial support that if the course duration is more
than 1 year then proof of financial support for first year is to be shown only.

Cheers

 

[sharmad]

Thank you so much for the information sgsiri!!