Student visa chances with Personal Loan instead of Education Loan

[abin278]

Hi,
I have received admission at Univ of Manitoba for Master's Pharmacology starting Jan 2017. Although I applied for education loan against property (which is in my name) with state bank of India 3 months back, now they are telling that since y property doesn't have have an house/building on that specific plot.
So, I went to State Bank of Travancore with a fixed deposit of 16 lakh and they sanctioned a loan the immediate next day for 10% margin (14.4 lakh). However, the loan is given as personal loan and on my request branch manager wrote in the sanction letter as "Personal Loan for Education Purposes" and details of my program for which I have taken loan. My father has 2 fixed deposits with Kerala State Financial Enterprise worth 8 lakh rupees.
All my other documents are okay.
Will my study permit be sanctioned using this personal loan against FD?
Is it necessary that the loan needs to be "Education Loan" to get my study permit sanctioned?
Waiting anxiously for responses....

 

[harvijay1001]

Hi,
I have received admission at Univ of Manitoba for Master's Pharmacology starting Jan 2017. Although I applied for education loan against property (which is in my name) with state bank of India 3 months back, now they are telling that since y property doesn't have have an house/building on that specific plot.
So, I went to State Bank of Travancore with a fixed deposit of 16 lakh and they sanctioned a loan the immediate next day for 10% margin (14.4 lakh). However, the loan is given as personal loan and on my request branch manager wrote in the sanction letter as "Personal Loan for Education Purposes" and details of my program for which I have taken loan. My father has 2 fixed deposits with Kerala State Financial Enterprise worth 8 lakh rupees.
All my other documents are okay.
Will my study permit be sanctioned using this personal loan against FD?
Is it necessary that the loan needs to be "Education Loan" to get my study permit sanctioned?
Waiting anxiously for responses....

I think for university category, it shouldn't matter

 

[abin278]

Thank you for the response. Im planning to move forward with the application tomorow.

 

[Bs65]

Hi!
I'm got twice time admission in CANADA for further study, but unfortunately, I'm the only strong source of income in my family, my elder brother is earning around 15k per month and I want to do my study in CANADA. now I want to take a personal loan on my current job account which can pass almost 6-8 lakh.So, if I will take that loan on my name and after getting a loan am I eligible for student visa ???

Other expenses and Loan repayment I am able to cover on the exact timeline...

Pls pls, guide me what should I do???

I don't have a much more experience about the process or anything...

And any of the ways I want complete my further study...

pls guide me...

with respect maybe take off the bright red highlighting as wont get any feedback any quicker but can offend some people.

 

[mandeep62]

Hi!
I'm got twice time admission in CANADA for further study, but unfortunately, I'm the only strong source of income in my family, my elder brother is earning around 15k per month and I want to do my study in CANADA. now I want to take a personal loan on my current job account which can pass almost 6-8 lakh.So, if I will take that loan on my name and after getting a loan am I eligible for student visa ???

Other expenses and Loan repayment I am able to cover on the exact timeline...

Pls pls, guide me what should I do???

I don't have a much more experience about the process or anything...

And any of the ways I want complete my further study...

pls guide me...

I can't even read. please, remove that red color. It's annoying. Personal loan wouldn't work.

 

[pateljatink]

Hi!
I'm got twice time admission in CANADA for further study, but unfortunately, I'm the only one strong source of income in my family, my elder brother is earning around 15k per month and I want to do my study in CANADA. now I want to take a personal loan on my current job account which can pass almost 6-8 lakh.So, if I will take that loan on my name and after getting a loan am I eligible for the student visa?

Other expenses and Loan repayment I am able to cover on the exact timeline...

Pls pls, guide me what should I do???

I don't have a much more experience about the process or anything...

And any of the ways I want complete my further study...

pls guide me...

 

[ksv007]

Hi!
I'm got twice time admission in CANADA for further study, but unfortunately, I'm the only one strong source of income in my family, my elder brother is earning around 15k per month and I want to do my study in CANADA. now I want to take a personal loan on my current job account which can pass almost 6-8 lakh.So, if I will take that loan on my name and after getting a loan am I eligible for the student visa?

Other expenses and Loan repayment I am able to cover on the exact timeline...

Pls pls, guide me what should I do???

I don't have a much more experience about the process or anything...

And any of the ways I want complete my further study...

pls guide me...

Hello bro,
did they approved your visa on personal loan?

 

[Naturgrl]

Hello bro,
did they approved your visa on personal loan?

Person has not been on the forum in 6 years.

 

[ksv007]

Person has not been on the forum in 6 years.

Ohh okay! actually I am in a confusion right now that If I show funding letter(provides financial support of around $27k) along with a personal loan around $12k. will there be any problem in visa process?

 

[Naturgrl]

Ohh okay! actually I am in a confusion right now that If I show funding letter(provides financial support of around $27k) along with a personal loan around $12k. will there be any problem in visa process?

Funds are just one piece. You need to justify the costs of the program with education and career advancement (higher pay). So you need to justify taking a loan to study in Canada. Is this a masters program? Single? Have you paid tuition?

 

[ksv007]

Funds are just one piece. You need to justify the costs of the program with education and career advancement (higher pay). So you need to justify taking a loan to study in Canada. Is this a masters program? Single? Have you paid tuition?

It's a PhD program and I haven't paid my tuition fee yet. I'm going to canada single