Student loan

[thebigb4u]

Hi there..

I had a small Query. I have received the invitation to apply and I'm in the process of filling up the form section for financial documents.

If I list my student loan, would that have any negative effect on my application?

If my father is paying the loan, would it be okay if I do not declare the loan in the financial documents? Will that have any negative effect on my prospects of getting the residency?

Thanks

 

[thebigb4u]

Can anyone please shed some light on this? It's a little urgent..

 

[kryt0n]

Do we have clear consensus here? Declare or not to declare student loans?

 

[Lyon37]

I declared mine - it is in good standing and i have a long-term payment plan. Its better to declare than to hide...

 

[kryt0n]

I declared mine - it is in good standing and i have a long-term payment plan. Its better to declare than to hide...

Can I ask how you declared it? Mine is not connected to my bank and is government scheme. It comes out of my pay slip pre tax... I cant even repay it early!

 

[kryt0n]

Starting to freak now. If it doesn't go through any account and it's not registered via any bank... Do I have to declare it?

 

[TicTocCroc]

I don't think so. Bristish student loans are quite different and are only payable if you are earning over a certain amount. It isn't like you can use your settlement funds to pay it off.

 

[Lyon37]

Mine was institutional - so I asked their financial services to write me a signed letter. That's what I used.

 

[kryt0n]

I don't think so. Bristish student loans are quite different and are only payable if you are earning over a certain amount. It isn't like you can use your settlement funds to pay it off.

See this is why I'm confused. It's not on my bank statements and not showing on my credit history. It doesn't exist in any banks eyes... So do I declare it with an LOE? Will this work against me?

 

[kryt0n]

Mine was institutional - so I asked their financial services to write me a signed letter. That's what I used.

And it looks like you got refused?

 

[DelPiero07]

See this is why I'm confused. It's not on my bank statements and not showing on my credit history. It doesn't exist in any banks eyes... So do I declare it with an LOE? Will this work against me?

No need.

 

[kryt0n]

No need.

But...But...But... I just don't want this to bite me in the ass. I mean, unless CIC actually contact student loans company (government) and ask, they will have no idea it exists... But am i then hiding something and misrepresentation?

 

[DelPiero07]

But...But...But... I just don't want this to bite me in the ass. I mean, unless CIC actually contact student loans company (government) and ask, they will have no idea it exists... But am i then hiding something and misrepresentation?

From everything that I've read I can say that they only care about you having the minimum funds, of course if there are liabilities in the bank account that you're using for your POF then you'll have to declare it otherwise it makes no difference.

Try double checking with Avisad if you're feeling iffy about it

 

[TicTocCroc]

And it looks like you got refused?

Not for student loan reasons. Lyon talks about a mix up with provinces in another thread.

i don't think you need to declare it.