Using loan as proof of funds and no GIC

[Jad1996]

Dear friends,

25/Moroccan student here..I was admitted to university of Lethbridge for a 1year certificate program the costs of tuition is 20,454 CAD and the living expenses are 18,000 CAD. I applied to get a loan for the full amount.. it won't be disbursed to the school only after the visa had been approved.

I have no debts or liabilities, one bank account with a balance of 3000 USD (can provide proof of using bank statements).. i live in my uncle's house

I won't be able to show a GIC certificate. I'm relying on the funds from the loan.

What I can provide as proof of funds is:

- Approved loan letter from the private lender stating the amount (40,000cad) and when it will be disbursed.
- Loan details
- bank statements showing no liabilities or debts and 3000usd
- letter of explanation of the loan and how it will be used
- maybe the asset (house) of my uncle since he's the one whom I consider as a father of mine?

Profile, i have a master's degree with 3,67gpa from a private french uni in morocco which I paid for myself and have been working and still do work as an accountant for 4 years now (i have a fixed salary) and I intend on continuing my education in Canada through this certificate (relevant program) in order to start a practice in Morocco later on.

What do you guys think my chances will be to get my visa approved?

 

[Naturgrl]

Dear friends,

25/Moroccan student here..I was admitted to university of Lethbridge for a 1year certificate program the costs of tuition is 20,454 CAD and the living expenses are 18,000 CAD. I applied to get a loan for the full amount.. it won't be disbursed to the school only after the visa had been approved.

I have no debts or liabilities, one bank account with a balance of 3000 USD (can provide proof of using bank statements).. i live in my uncle's house (worth over 120k USD)

I won't be able to show a GIC certificate. I'm relying on the funds from the loan.

What I can provide as proof of funds is:

- Approved loan letter from the private lender stating the amount (40,000cad) and when it will be disbursed.
- Loan details
- bank statements showing no liabilities or debts and 3000usd
- letter of explanation of the loan and how it will be used
- maybe the asset (house) of my uncle since he's the one whom I consider as a father of mine?

Profile, i have a master's degree with 3,67gpa from a private french uni in morocco which I paid for myself and have been working and still do work as an accountant for 4 years now (i have a fixed salary) and I intend on continuing my education in Canada through this certificate (relevant program) in order to start a practice in Morocco later on.

What do you guys think my chances will be to get my visa approved?

No one can tell you your chances. A few observations:

- Funds: You are relying on a loan to cover the full costs with not a lot of your own money. This will be a factor. Your uncle’s house is not considered as it is not your own and it is not liquid funds (and in your name).
- Tuition: Not having paid tuition when applying will be taken into account (seen as not being able to afford a program)
- Program/Career: You will need to show a career/job that will pay off such a high loan. What is the program if you have a Masters already? Can you justify the high costs with a better job?
- Ties to country - What are your ties as assume you are single and don’t own a home? You need to show that you have ties to return - job, investments. I guess you have a $40k loan.
- IELTS - assume you have good scores.

 

[Jad1996]

No one can tell you your chances. A few observations:

- Funds: You are relying on a loan to cover the full costs with not a lot of your own money. This will be a factor. Your uncle’s house is not considered as it is not your own and it is not liquid funds (and in your name).
- Tuition: Not having paid tuition when applying will be taken into account (seen as not being able to afford a program)
- Program/Career: You will need to show a career/job that will pay off such a high loan. What is the program if you have a Masters already? Can you justify the high costs with a better job?
- Ties to country - What are your ties as assume you are single and don’t own a home? You need to show that you have ties to return - job, investments. I guess you have a $40k loan.
- IELTS - assume you have good scores.

Funds = Yes I will try to explain the loan amount and its decomposition to cover all costs in a letter of explanation.
Tuition payment = I have deposited only the minimum amount of 500CAD to get the acceptance letter, but the tuition will be disbursed in full to the school once the visa is approved.

Program / career: I have relevant work/education experience, having had a master's degree in audit and accounting and this certificate will serve to complete my profile, but my concern is that this program is a CPA bridging program, which means, after completion, the student can opt to get more education (by doing PEP) and then becoming a certified professional accountant (CPA) in canada. which is the purpose why I want to do this program. now this part, I don't know how to explain in my SOP letter. because it would mean to them that I would have to stay longer in canada, or I can say that I will be returning home and doing PEP online.

Ties to country: I have no assets to my name, only a job that I have been working at for the last 3.5 years.

I scored 145/160 on duolingo (equivalent to 8.5 IELTS score), i have a good english level.

 

[Naturgrl]

Funds = Yes I will try to explain the loan amount and its decomposition to cover all costs in a letter of explanation.
Tuition payment = I have deposited only the minimum amount of 500CAD to get the acceptance letter, but the tuition will be disbursed in full to the school once the visa is approved.

Program / career: I have relevant work/education experience, having had a master's degree in audit and accounting and this certificate will serve to complete my profile, but my concern is that this program is a CPA bridging program, which means, after completion, the student can opt to get more education (by doing PEP) and then becoming a certified professional accountant (CPA) in canada. which is the purpose why I want to do this program. now this part, I don't know how to explain in my SOP letter. because it would mean to them that I would have to stay longer in canada, or I can say that I will be returning home and doing PEP online.

Ties to country: I have no assets to my name, only a job that I have been working at for the last 3.5 years.

I scored 145/160 on duolingo (equivalent to 8.5 IELTS score), i have a good english level.

Only paying a minimum amount doesn’t not strengthen profile.

Can you not do a CPA program in Morocco? Why do you need to come to Canada? You need to show how this one year program with such a high loan will give you a job when you return. If you need further education to meet your career goals then justification of a one year Canadian program is required. Again you need to explain meeting career and education goals when you return.

Duolingo is not considered. If you haven’t taken IELTS then it weakens your profile too.

 

[Jad1996]

Only paying a minimum amount doesn’t not strengthen profile.

Can you not do a CPA program in Morocco? Why do you need to come to Canada? You need to show how this one year program with such a high loan will give you a job when you return. If you need further education to meet your career goals then justification of a one year Canadian program is required. Again you need to explain meeting career and education goals when you return.

Duolingo is not considered. If you haven’t taken IELTS then it weakens your profile too.

The CPA in canada offers better job opportunities and prospects for a better salary and living conditions, I understand that this is a big investment on my part, but it carries many opportunities to becoming a CPA by canadian standards which are more valuable from an education quality standpoint and from job opportunities and career growth standpoint. I chose to become a CPA by canadian standards because it will allow me to start my business in my country and deal with clients coming from western countries (canada, USA).

Also as another option, the program has post graduate work permit, can I mention that I will be applying for it upon graduation? it can land me a job in canada and I might apply for permanent residency and continue education to become a CPA.