I am in the process of applying for my study permit in Canada. After carefully considering my 16-month diploma tuition, along with room and board, and travel expenses, I have estimated that I would require a total of $48,000 CAD.
Currently, I have $28,000 CAD in my bank account. To cover the remaining amount, I am contemplating applying for a 5-year loan of $20,000 CAD from my local bank in my home-country. My primary concern is that the funds granted by my bank may not be explicitly designated as an educational or study loan, as they can be utilized for any purpose.
Do you think this is a viable strategy for proof of funds?
Any suggestion is appreciated
Thank you!
Currently, I have $28,000 CAD in my bank account. To cover the remaining amount, I am contemplating applying for a 5-year loan of $20,000 CAD from my local bank in my home-country. My primary concern is that the funds granted by my bank may not be explicitly designated as an educational or study loan, as they can be utilized for any purpose.
Do you think this is a viable strategy for proof of funds?
Any suggestion is appreciated
Thank you!