100% education loan

[abhi14191]

hey....

We all know that we are suppose to show available funds for the first year's expense at the university.
And the CHC prefer's education loan.

So can i show my entire first year and half of my second year's available funds through an education loan and not show anything from my parent's side????????
Will this work?

Thanks all.

 

[enfield]

hey....

We all know that we are suppose to show available funds for the first year's expense at the university.
And the CHC prefer's education loan.

So can i show my entire first year and half of my second year's available funds through an education loan and not show anything from my parent's side????????
Will this work?

Thanks all.

Hi,


At the most, public sector bank in India grant 85 percent of your required expenses (like tuition, living etc). Rest 15 percent comes from your pocket.

No issue even if you apply with 85 percent of required loan.

 

[abhi14191]

Hi,


At the most, public sector bank in India grant 85 percent of your required expenses (like tuition, living etc). Rest 15 percent comes from your pocket.

No issue even if you apply with 85 percent of required loan.

Thanks enfield.

But my one year total expense is Rs.12lac and my studies are for 2 years. Therefore my loan is for Rs.18lac
Therefore the loan amount(18lac) exceeds the first year's required expense(12lac) and we need to show only the first year's expense according to CHC. So in this condition are my parents required to show anything?

Thank you

 

[enfield]

Thanks enfield.

But my one year total expense is Rs.12lac and my studies are for 2 years. Therefore my loan is for Rs.18lac
Therefore the loan amount(18lac) exceeds the first year's required expense(12lac) and we need to show only the first year's expense according to CHC. So in this condition are my parents required to show anything?

Thank you

Hi,


I would rate it as follows:


First year = Rs. 12 lacs (out of your certified loan of Rs. 18 lacs)

Second year = Rs. 6 lacs (balance loan amount) + Parent's saving/FDR/Mutual funds/even rental income, if any/and ofcourse ITR details.


Even Rs. 18 lacs is more thn enough and VO might not even go beyond that, but if possible thn get ready for 2nd year expenses as well (its ofcourse not required!)

 

[abhi14191]

Hi,


I would rate it as follows:


First year = Rs. 12 lacs (out of your certified loan of Rs. 18 lacs)

Second year = Rs. 6 lacs (balance loan amount) + Parent's saving/FDR/Mutual funds/even rental income, if any/and ofcourse ITR details.


Even Rs. 18 lacs is more thn enough and VO might not even go beyond that, but if possible thn get ready for 2nd year expenses as well (its ofcourse not required!)

Thank you
how about your visa process? any news from the CHC?

 

[vishu639]

hello
enfield
how v can show income from a property?

 

[vishu639]

means we get around 10-12k pm from rented accommodation. can i show this as a proof of income with visa application if yes thn how ?.. And m a bit confused between funds and proof of income..
If an individual has full funds thn is it mandatory to show income proof and visa versa?

 

[enfield]

means we get around 10-12k pm from rented accommodation. can i show this as a proof of income with visa application if yes thn how ?.. And m a bit confused between funds and proof of income..
If an individual has full funds thn is it mandatory to show income proof and visa versa?

Hi,


In “Study Permit Questionnaire” form (Under SPP/General Category), you have to mention the "Primary Source of Income” under question no. 3.

Here, you can write the possible source of Income (including rental). You do not need to put off any proof/certificate for the same. It's not required as per the Visa Checklist (SPP/General).

And no one is asking for “Proof of income”, all they want “Proof of Financial Capacity” (Like bank loan, savings, FDR etc), and your Financial capacity includes rented income as well. Your possible income can be verified by way of ITR (even its not strongly recommended to submit ITR)