Proof of Funds - okay to show education loan?

[akarshank]

Hi,

I am an international student in Canada and have received an ITA. I have a couple of questions regarding the proof of funds.

1. I have accounts with 3 banks in Canada. Do I need to disclose all of them? I use only 2 for my banking needs.

2. I also have an education loan from one of the banks. Is it fine if the required amount of funds (13K CAD) is in the same bank's chequing/savings account? The letter will state that I have a outstanding loan. Can it be a problem?

Thanks in advance.

Cheers,
akarshank

 

[andy108]

Loans should not have effect, many of us have car loan or a mortgage.

 

[xpressentry]

Secured loans like car, mortgage should not affect your application. CIC is concerned that you have not borrowed the money or taken a loan to cover the amount to pass off as your own.

You need to declare your education loan as CIC has asked for any pending loans. Whether it will affect your application or not, I dont know.

 

[akarshank]

Thanks guys! Any more thoughts?