- Sep 1, 2017
- 100
- 26
- App. Filed.......
- 20 October 2017
- Med's Request
- 9th November 2017
- Med's Done....
- 15th November 2017
My father and brother were my sponsor. I only provided two bank statements of my father but he had many more and those bank statements had zero balance in them. The two statements had a total of 47000 USD and i had sent 32,600 cad to Canada which is 1 year tuition fee. One of the statement was 2.25 months old and the other was merely 1.5 months old.At this stage I'm not sure what to make of this. If all accounts are verified, I'm pretty screwed. If only the statement I provide is verified, I should be OK. I'm being sponsored by my employer.
I can't find any concrete information on this anywhere and only hearsay with the exception of this link: http://www.sbp.org.pk/bprd/2010/C6.htm
which indicates that embassy's don't have direct access and merely request the information via a bank's head-office - presumably of the statement you provide. The silver ling is that I will pay the university 100% (4 terms) of my tuition fees of the expected (not maximum) duration of my studies but that still leaves 2 terms open (if one takes the max. duration). But the expected graduation date is very realistic - I only need 8 courses to graduate and even if I take 2 courses per term it should be doable by everyone.
If I can find any sort of concrete information on whether all accounts are verified, I will most likely skip Waterloo and go to a cheaper school like UBC so I can sponsor myself. I only have 2 accounts and neither is overdrawn but even then I need to figure out how to show my personal account can support the cost. UBC costs a total of CAD 40,000 over two years and I can have an amount double than this in my account - the source would be my father. I can keep it there indefinitely and apply for Fall 2019 cycle.
Any advice would be appreciated on the matter.
I believe you are taking this the wrong way. If they had asked me to show funds for all 5 years, i would have been screwed. The cost for 5 years is around 210,000 CAD at 32,600 cad per year and 10000 cad for living expenses and i had showed around 79k cad and the bank statements were not that much mature. Plus i didn't even provide the bank statements of my brother. But i did provide proof our annual year income which was substantial and paying the tuition fee for the first year is what they really ask but providing them proof of financial stability is always positive that you have done by showing business income and any other investments that you may have.
So my point here is, you just need to show proof funds for the first year and for the next terms, you just have to show that your income is sufficient to support yourself which i think the business related documents are enough. I am pretty sure they don't check those accounts that you have not provided simply because they don't have enough time to look for other documents. They will give decision based on the documents they have and if they are not enough, they wont even ask for more and simply reject your application.
Finally, paying the tuition fee for first year makes it easier as they have the proof of funds just in my case and that is the main reason i was approved with bank statements of just 2.5 months. So paying is more important.