Bank loan and GIC ????? under SPP

[pradeep332]

hi
i intended to go seneca college which comes under spp


soo coming to financial issue

college fee per year is $12000 ( 12000 X 2 = 24000 )

living expenses 10,000 $ per year = 20,000$

tuition fee + living expenses = 44,000$ roughly around 24,00,000 INR , of which the bank will give 80% only so its 20 lakhs

1) college fee for 1st sem = ill pay from my pocket ( $6000 )

2) GIC = 10,000 $ ill pay gic from my pocket

3) bank loan around 20 lakhs


is this fine wid the financial proof ?
or should i have to change any thing ?

 

[tiger007]

hi
i intended to go seneca college which comes under spp


soo coming to financial issue

college fee per year is $12000 ( 12000 X 2 = 24000 )

living expenses 10,000 $ per year = 20,000$

tuition fee + living expenses = 44,000$ roughly around 24,00,000 INR , of which the bank will give 80% only so its 20 lakhs

1) college fee for 1st sem = ill pay from my pocket ( $6000 )

2) GIC = 10,000 $ ill pay gic from my pocket

3) bank loan around 20 lakhs


is this fine wid the financial proof ?
or should i have to change any thing ?

Hi,

SPP category checklist: SPP: http://www.vfs-canada.co.in/pdf/Student_Partners_Program_09022013.pdf

Here, it's mentioned:

Copy of receipts for tuition payment provided by the SPP institution.
AND
Proof of funds: You MUST demonstrate the purchase of a special Guaranteed
Investment Certificate (GIC) from a participating Canadian financial institution, in the
amount of $10,000 CAD to cover living expenses for your first year in Canada.

So, for the time being, Must show payment of your 1st Sem fees (preferably 1st year tuition fees) + purchase 10,000$ GIC. That's it.

CHC, is only concerned about 1st year expenses. They do NOT ask for proof of 2nd year tuition fees + living expense. In-fact, in many cases 10,000$ is enough for overall living expenses of 2 academic years/4 semesters/16 months of actual study.. as rest you may be able to cover up by working part time (legally on OCWP, after 6 months of actual studying, provided you find jobs) and/or working full time in college sanctioned summer term break between year 1 and 2 (if there is one in your program).

Hope it helps.


***All opinions expressed are purely personal, and pieces of information mentioned are to the best of my knowledge... You should consult other
sources too.

 

[DIVYAZABI]

Hi,

SPP category checklist: SPP: http://www.vfs-canada.co.in/pdf/Student_Partners_Program_09022013.pdf

Here, it's mentioned:

Copy of receipts for tuition payment provided by the SPP institution.
AND
Proof of funds: You MUST demonstrate the purchase of a special Guaranteed
Investment Certificate (GIC) from a participating Canadian financial institution, in the
amount of $10,000 CAD to cover living expenses for your first year in Canada.

So, for the time being, Must show payment of your 1st Sem fees (preferably 1st year tuition fees) + purchase 10,000$ GIC. That's it.

CHC, is only concerned about 1st year expenses. They do NOT ask for proof of 2nd year tuition fees + living expense. In-fact, in many cases 10,000$ is enough for overall living expenses of 2 academic years/4 semesters/16 months of actual study.. as rest you may be able to cover up by working part time (legally on OCWP, after 6 months of actual studying, provided you find jobs) and/or working full time in college sanctioned summer term break between year 1 and 2 (if there is one in your program).

Hope it helps.


***All opinions expressed are purely personal, and pieces of information mentioned are to the best of my knowledge... You should consult other
sources too.

Is that GIC for $10,000CAD needed only for those who plan to go to colleges?! Or for Univ category as well??

 

[tiger007]

Is that GIC for $10,000CAD needed only for those who plan to go to colleges?! Or for Univ category as well??

Hi,

GIC is compulsory only those applying for visa under SPP category.

Here's the list of participating educational institutes under SPP:
www.canadainternational.gc.ca/india-inde/visas/spp-ppe.aspx?lang=eng



***All opinions expressed are purely personal, and pieces of information mentioned are to the best of my knowledge... You should consult other
sources too.

 

[pradeep332]

Hi,

GIC is compulsory only those applying for visa under SPP category.

Here's the list of participating educational institutes under SPP:
www.canadainternational.gc.ca/india-inde/visas/spp-ppe.aspx?lang=eng



***All opinions expressed are purely personal, and pieces of information mentioned are to the best of my knowledge... You should consult other
sources too.

im a b.tech student .. i have 7 backlogs

1year = 3 general and 1 rewritten= 4
2year 1st sem = 2 general
3year 1st sem = 1 general
..............................................................................
total = 7 backlogs

nd i got offer letter under spp


but im afraid cause i saw a post
Under SPP in India... students should NOT have not more than TWO backlogs per year.

so am i eligible under spp ?