Less than 4 months of bank statements

[Orchid3000]

I am currently getting documents together for my study permit application. The issue I ran into is that nearly all my financial assets are in stocks. I have over 70k in my brokerage account and have already sold off $10,000 CAD which is currently in a savings. My issue is that I do not have bank statements of that money in a savings account for 4 months since I just sold the stock. Would I be able to include statements from both my brokerage account and bank account for proof of finances? I am also planning on submitting paystubs as well as a letter of employment.

 

[Canada2020eh]

I am currently getting documents together for my study permit application. The issue I ran into is that nearly all my financial assets are in stocks. I have over 70k in my brokerage account and have already sold off $10,000 CAD which is currently in a savings. My issue is that I do not have bank statements of that money in a savings account for 4 months since I just sold the stock. Would I be able to include statements from both my brokerage account and bank account for proof of finances? I am also planning on submitting paystubs as well as a letter of employment.

You need to liquidate more stock and put in into a bank account. They don't recognize investments the same as cash on hand. Whether it's done now or having 4 months of bank statements is immaterial but you should show the transfer from one to the other. Show statements of your investments in the account being transferred to your bank account and that should be fine.

 

[Orchid3000]

So even though I sold off the 10k you think I should sell off more? How much more would you recommend? I don’t intend on actually touching very much of the funds when I’m in Canada. I am having my college fees paid via loan and I am providing proof of that in my application. I am also going to include pay stubs and a letter of employment.

 

[Canada2020eh]

So even though I sold off the 10k you think I should sell off more? How much more would you recommend? I don’t intend on actually touching very much of the funds when I’m in Canada. I am having my college fees paid via loan and I am providing proof of that in my application. I am also going to include pay stubs and a letter of employment.

You didn't mention the loan or I missed seeing it. Generally they want to see tuition and living expenses for a year in a bank account when you make the application, so tuition and 10-15k for living which can even be on the low side depending on where you are going but it should suffice for the app, I would also show the funds in your brokerage account and in your LOE mention the funds are there and can be liquidated if needed.

 

[Orchid3000]

Would simply showing documentation that I got approved for the loan suffice? Sallie Mae is who I got approved through and they strictly send loans directly to my school. I was only allowed to register at my school this past week so it might take some time for my loans to be processed. In addition to that I have several pending scholarships that I won’t know the decision on until closer to the start of school so I might actually need less than the loan I initially applied for.

 

[Canada2020eh]

Would simply showing documentation that I got approved for the loan suffice? Sallie Mae is who I got approved through and they strictly send loans directly to my school. I was only allowed to register at my school this past week so it might take some time for my loans to be processed. In addition to that I have several pending scholarships that I won’t know the decision on until closer to the start of school so I might actually need less than the loan I initially applied for.

Your situation gets more complicated with every post you make. Proof of the Student loan should be good if it covers the full tuition cost but I doubt they will take "Pending" scholarships into account as proof of funds. Until you have it in hand it probably doesn't exist for them. Only having the funds in your margin account is still questionable as proof since the funds aren't guaranteed like a GIC or a term deposit is. Nobody can tell you for sure, it's all up to the officer that processes your application.

When is your intake and when did you get your LOA? If it's for Sept you are running out of time.