CANADA To Increase PROOF OF FUNDS For Study Permit Applications in 2024 | 10 THINGS TO DO NOW
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- čas přidán 11. 06. 2024
- The cost-of-living requirement for study permit applicants has not changed since the early 2000s, when it was set at $10,000 for a single applicant. As such, the financial requirement hasn’t kept up with the cost of living over time, resulting in students arriving in Canada only to learn that their funds aren’t adequate. For 2024, a single applicant will need to show they have $20,635, representing 75% of LICO, in addition to their first year of tuition and travel costs. This change will apply to new study permit applications received on or after January 1, 2024.
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Hello peter i have a question i currently have all my documents for visa application but was planning to wait till january. I currently have 20kcad for living expensis and tuition aside . If i apply now (december ) will my application be considered for 10k living expenses or 20k living expenses
You have done noble, Sir!
Thanks for the video. The biggest challenge I have right now is prove of funds
Thank you. This is good.
Peter, thanks for all the info
Great job sir.
Nice information thanks.
Thank you for this information
Hello Mr Peter. Thanks so much. I applied on the 5th of oct 2023. Did Biometrics on 11 octobe. My application was approved on the 20 of Nov. Go my visa stamped on the 1 December 2023. Thanks your Video really helped me
I will be going to NBCC in September 2024
Congratulations dear, I tap into this good news
Damn dear, Congratulations I tap from this blessings in Jesus mighty name Amen
This is really fast considering the fact that your resumption date is still very far
Is this still a good time to apply to NBCC for September 2024
thank you for your advice
Thanks for your video
Thanks Peter
Thank you for all you do, please this new POF, does it also affect the POF for dependants or theirs is still the same
Hello sir peter,thanks alot for your educating content.pls will tuition be payed in official rate or black market rate?
This dream will not die
Thank you Sir.
You are a genius
Great videos always mr Peter. Would you still advice paying full 1 year tuition fee for a 1 year course (NBCC) for a self sponsored
If possible. It's a good option
Please I’m now going to apply for my student’s permit and I’m also paying the full initial fees so I want to ask if the new rule for the POF will affect me if I apply this December?
Thank you
Thanks for the information
Can i start my application immediately after doing my POF or do I need to wait for 2 weeks first?
You can apply immediately
I'm speechless for now. God eill help his people.
Thanks for taking you time and effort to share ideal on current visa challenges. I recently applied and was given a refuser, due to insufficient funds, and not stating that i will leave after my studies. I need to have a chat with you on what and what is need to do.
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Good day Mr. Peter. Please I applied for Visa this year that was around June and was denied the Visa around August due to proof of fund and proof of tie but immediately I got that message from them I applied again to see whether they can grant me the visa within the one month that was left since the school started on September but to no avail, since I re-applied for the visa I haven’t heard from them and my chances for the school has past since I have deferred one already so please when this happens like this what should I do since as at now I haven’t heard from the embassy again for the past four months and also I have apply another school again that I’m waiting for admission but my problem is since I haven’t heard from them and if the new school comes and I want to apply for visa, how can I go about it since one is already in process and that school has past but I haven’t heard from them and I want to apply for the new school Visa.
Mr Peter, you are so encouraging, and I love you for that, God bless you Amen.I will like to know, if my brother in-law can be my sponsor,he has a big school but different surname.pls reply me.
Mr peter i will like to ask this question can i use an investment certificate from my investment company as proof of funds. Please kindly reply sir.
Hi Peter, thanks so much for this video. I've been searching but I haven't found it: where do I find the exchange rate in their website?
Just type *ircc exchange Rate* on Google. It will refer you their website
@PeterIsesele , I did that from the beginning, but I didn't see a rate for my country. I will continue to research. Thank you.
Am planning to come 2026 September when should I start applying and when do one shows proof of funds so that I will know how to build up my account thank you
Good day Sir,
I have the intention of submitting a self sponsored application come next early 2024.
But large % of the money for my studies abroad is coming from my Dad and I am planning to engage an affidavit of support to show proof of our relationship.
However, Lagos state Government requested his property that was close to a project be remove in exchange for a large sum and this was where my Dad got his money to support my studies abroad.
my question is, should I just show the copies of the documents in exchange for money or I have to show his bank statement in addition to the source of fund, because he has come of age (86 plus) and he only run a small retail shop whose business was not registered, but has invoices for goods sold? He has transferred his support (money) to my personal account and that's the account I am showing for my POF.
Although, I have paid my 1st semester tuition and I have my own business registered and the business is doing good by his grace.
Your reply would be highly appreciated.
Many thanks as usual. God bless you more.
How long should my POF stay in my accnt befre I apply for study permit
Thank you for this awesome video…. My BP is a little down now 😂
Thank you mr peter,am shaking now sir.my problem is that am not in nigeria my act is inactive but i have acct here in the country am currently living but it is not english speaking country and my classes starts 3 septermber.i own a business here but it is in somebody else name,pls help me what am i to do.
Good day sir pls if i have like 7 8m should i start business before applying for admission. pls advice me
Thank you sir.
Can I start using my money after submitting my application. I submitted on Tuesday last week, I have need for cash but I’m scared to touch the money. Please can I?
IRCC presume you still have the funds still when coming to Canada.
Well, they only review your application based on the finances you submitted. They don't have access to the transcations after that date.
Thank you sir, please my challenges now is about the proof of funds concerning the new policy, we have been building the account for the past 2month now showing the accurate amount required by the ircc, the issue now is that if I'm to add another money to the account today meet up with the new policy and i will be sending it little by little hope the last 2month total balance will not affect it as the 3rd month total balance will be greater than the last 2month,we are family of 3
My biggest challenge is paying my school fees. How to get loan and pay later. Thanks
Please I'm eagerly waiting oo
Mr Peter, good day.
Please I really need an advice from you,I applied for my study permit and was asked to go for my medicals. But my admission was concelled by my school for not sending my study permit approval on or before the school deadline date. Please what should I do, should I go ahead with my medicals? Please I need your advice.
Thanks
With some schools, once you made a payment they automatically defer you to the next school term. So you would receive an updated acceptance letter. If that’s the case, you can still continue your study permit application.
I have my business account on my company name and plan to use it for the visa application, should i change the business transactions to my personal account and why is using business account not okay for proof of fund
Hi Peter….what happens if your payment receipt already has your country currency vs the equivalence in CAD dollar for platforms such as fly wire who uses similar rates like black market. Can you still pull through and convince VO using Canadian official rate which is less
The visa officers use the rate as on the day of the application review
For the proof of funds what of relationships managers that earn bonuses that are more than their annual income upon meeting targets .
You can also show that...
Show ? Or talk about it in your sop,
What if I have worked in about 3 places as a relationship manager sales , and I get constant bonuses how am I suppose to show the proof aside documenting it in my sop ?
Is gci account culpustry for international students to get study permit
Does this increase affect tourist visa application
Please Mr Peter I'm moving money from my business account to my personal account every month and I use to put salary on the narration but I'm thinking if I should be using person savings for study on my narration.please what is your opinion on that.
Thank you for all you do God bless you
That what am doing hope is ok
But you will need to submit your employment letter
Does this new POF affect spousal open work permit application?
Am a student in Canada and I want to apply for my wife and 2children next year.
How much do I have to prove in the account?
It doesn't. But show enough money
Thank you Mr. peter, for the information. Can my brother in law be my sponsor for my study?
Dey Play
Mr peter, i applied for a study Permit on December 1 2023 biometrics on December 5....will the new rule of $20k cad affect my application because I'm on the old rule.....
It won't affect
Good day Mr Peter,
Would be in BC, Canada as Intl student by Dec 13, 2023. Pls Sir, can u assist with job to assist my settling down.
Please how much is tuition deposit for Niagara college in canada
Check out their website
Please I will appreciate your response sir
Can both my husband and I sponsor me. I mean using my personal account and my husband business account.
Mr peter, hope it will not affect the application that has already been submitted.
No
Mr Peter please how are you
Did the amount for proof of fund change for student dependent as well from 4k, 3k, 3k rule?
No
Mr Peter, well done sir, i was recently denied my study permit visa alongside my dependents even though my funds was more than enough. I want to try and get the gcms note but i don't know how to go about it before reapplying. Please can you help out.
Thanks for this. Am actually a bit down cos of the news that broke up. My class starts next year May though have paid part of my tuition for my 1 yr program. I was still out there trying to get enough fund before applying for visa cos am going with a dependent. This news broke me cos I really dunno how to go about it...If I still can successfully apply this year. Do the change still have it's effect on my plans!
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Hi, thank you very much for tge the video. Is really helpful. Please i applied for study permit on 24th Dec, 2023. Pls does this new rule affect my application. Or is for when you apply it from 1st Jan, 2024.. Thank you
No
Does the new proof of funds apply to people who want to extend their study permit for a second program by next year?
No I don't think so as ircc says that it is for NEW study permit applications from January 2024.
Do I have to pay the first year fee in order to get my visa ??
Not compulsory
Thank you for this sir.
My biggest challenge: I was refused study permit for providing an invalid receipt for my first application(unknowingly to me), which was handled by an agent whom I lost contacts with.
I only realized this from a response given to me by the finance team of IRCC when I sent them a mail to help validate the receipt.
Now I have sent another payment via the IRCC account team and it has been confirmed, since I wasn't restricted from re-applying, I applied again explaining what happened with an agent who mishandled my application and my classes are to commence in January.
Aside the explanation I gave, are there other ways I could have appealed better?
Do you think the officer would have updated my file with some negative remarks? and can my genuine explanation suffice?
Considering that it was the SOLE reason for my refusal,
What are my chances?
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And book for a consultation
@@PeterIseseleso you can't advise him here? He has repplied already, just answer him and give him some hope
Those who pay, pays attention!
Please allow him to go to the website. Personally, I don't believe that any straight forward answer here will ultimately help this person.
Thank you.
Please can someone who is a friend that has business account sponsor you. If yes what does the person need to do to prove he is the one sponsoring you.
A friend can't sponsor you.
Mr Peter does Canada accept microfinance pof
It's best to use a commercial bank
Hello sir. I was refused the first time in May. I have applied for GCMS. It has taken long. Meanwhile i intend to reapply next year after i muat have secured admission. First time ,i did self sponsored, this time i want to in addition to self sponsored have a sponsor/support. How is the plan?is it good?
What was your proof of funds for self sponsored?
You must have a proof of relationship to the sponsor
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Hello Sir, I have a bit of confusion, I already got my visa approved since October 20th, and my course starts in September 2024. I also will be applying for my Husband and Kids in January. so my question; Does the rule apply to me for working over 20 hours? Do I need to still show the 20K POF when I'm applying for my Dependents or just their own 10k is fine? Thank you.
Proof of funds for dependent doesn't change.
Is it possible to raise my proof of fund from united kingdom by opening a personal account in any bank in canada in my name for me to lodged my living expenses
Please Mr Peter for this enlightenment, I'm a mother of four, I'm applying for a one year postgraduate course. I have a 20year old child that just graduated, she wants to do her Masters too, Can I apply separately for her or put her as my dependent in my application?
She can apply together with her. But she needs a letter of acceptance
We are doomed Mr. Peter, already struggling to save the $10.000 now os doubled. Canada dream seemingly died. What could be the way out now?
My dear try another country it is very easy to navigate the world outside the shores of Africa ❤
Wahala what r m l going to do now
Hey mr peter i applied for master program with $12.000
Fees so I need to have $33 000 in my bank account ?
Something like that
Good evening Sir I got rejected this October for Fall 2023 and I want to reapply in January 2024 will this new rule affect me????
Yes
Good evening pls I submitted my application 28th of December does this new law applies to me?
No
Thanks
I already got accepted in college and this is what i have 10k😮😮
My challenge is my final certificate i haven't gotten it yet
hello sir I got accepted to september 2024 intake and 3 year program i have like 60-65k CAD$ is it enough to apply please help me
Pls which school did you got admission to
Yes..it is enough...If the tuition is less than 20k CAD per year
Mr. Peter, can my childhood friend whom we studied together and he is a businessman may he be my sponsor??
You have to show proof of relationship..Reach out to me through my website. I can guide you further
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Hmm thanks for the content 👏
Young Bill Gates here 😊😊❤❤
Sir can i use study loan from a bank as pof
Yes. But it depends on a lot of factors.
Thank you Mr. Peter, you are doing a great work for us all. In my case, can my husband sponsor me, we have a registered business already, and there's cash inflows and outflows. Thank you
Yes...Your husband can sponsor you
Yes...Your husband can sponsor you
Thank you.
Hello Sir, can I sell my cocoa farm equivalent to CAD 15000 to support my bank statement?
Also, I am a cocoa buy, what are are some of the documents I may need to buttress my application (student)?
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I also applied for bioscience in Holland college since October but my status is still under review please is there anything I can do to know if I will still get admission in that school
I have also applied for a Resident Care Worker program from the same Holland college but have not heard from them.
Same to me
Aww
Same here oo
I applied for Resident Care Worker but no response yet
God help me o
Mr Peter, please can i use my husband's account as a sponsor. Since he's the one sponsoring me
Yes.
@@PeterIsesele thank you sir, you are the best. I am right on your website checking things out. I will like you councel
Rob
Hello good day sir
Sir please Can I pay like 3000 cad sir
Is it okay?
It's up to you. It's also good.
Provided you show up the balance your POF
I am confused coz I have found a diploma in north atlantic college in agriculture coop but it's a two year course.mine I want a one year course coz of money.my bachelor is in agricultural economics.now should I apply for this 2 year or look for one year with pgwp?tiution fees per year is 11000 dollars for agriculture coop
Find a program that matches with your budget
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Mr Peter do you have anything to say about Fleming college, i have applied for study permit visa application with IRCC but my letter of acceptance from my school has expired and the school doesn't offer PGWP of which i was planning on changing school when i have done one semester with them but now that my LOA has expired and am yet to get decision from IRCC, so am having a plan to apply to Fleming College hence they said i can get my admission offer in 10 days to submit the new offer to IRCC hence my application is still in process.
Provided you met the conditions and deadline of the admission letter in terms of tuition deposit, it's not a problem.
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😅
Why should others help u
Hello Peter. Thanks for the information. Please I want your help in helping me get an affordable college where one can get admission for a one year course for post graduate certificate or diploma in automotive repairs. Need one to one with you
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Hello sir can I use my investment certificate from my investment company as proof of funds .please kindly reply sir.GOd bless u sir.Amen
Rugged you boss.