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What made this loan not acceptable to visa purposes?
I Need Help Please
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What made this loan not acceptable to visa purposes?
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some definitions I got from the net .
An asset is considered liquid when it can be converted to cash without losing much (if any) of its value. Therefore, cash is the most liquid asset possible. If you've got cash, then you can buy goods or services as soon as you get to a store.
A checking account is also a liquid asset, but it isn't as liquid as cash. With a checking account you've got to cash a check or visit an ATM, or use a debit card. Either way, there are a few extra steps involved in using your checking account to buy goods or services.
Savings accounts, money market accounts, and other short-term investments are also considered liquid assets.
Assets that are not close to being defined as liquid assets are often called fixed assets. Your home is a good example of a fixed (non-liquid) asset. It takes time to convert a home into cash. Real Estate, cars, and other "property" are also fixed assets.
What assets are counted as liquid assets?
Liquid assets include:
* cash on hand;
* shares and debentures;
* term deposits;
* other money available at short notice;
* some payments made or due to be made (within 28 days) by your last employer;
* 10 year insurance bonds;
* amounts deposited or lent to banks or other financial institutions whether or not the amount can be withdrawn or repaid immediately;
* amounts borrowed from the bank for a specific purpose such as overseas travel that may not have been used for the said purpose;
* assets given to a son or daughter in some circumstances;
* loans to other people;
* unencumbered proceeds from sale of business;
* any money in trust funds, bank accounts including mortgage offset accounts, BUT NOT balances of mortgage redraw accounts;
* redundancies or eligible termination payments that are not rolled over or cannot be rolled over; and
* compensation payments.
[ return to top ]
What are not counted as liquid assets?
Liquid assets DO NOT include:
* superannuation and termination payments which have been rolled over or are going to be rolled over directly from your employer;
* proceeds from the sale of your principal home in some circumstances; and
* voluntary one off payments of your non housing debts in some circumstances.
.Liquid Assets
A firm's primary liquid assets are
Cash
Receivables
Marketable Securities
Cash and Cash Equivalents
Cash creates mangement control problems because of the ease with which it can be converted to uses outside the firm. It also generates problems in terms of how much cash should the firm have on hand. Too little cash means the firms is likely to have problems covering current expenses (wages, utilities), too much cash means the firm is not getting a return on funds that it could if the excess cash were invested in other short term assets. On the balance sheet firms indicate their cash and cash equivalents. Cash is obvious and includes all the forms of cash the firm has on hand (petty cash, bank balances, etc.). Cash equivalents are items that can be converted to cash in a very short time. For example commercial paper with a maturity of less than 30 days is considered a cash equivalent. When bank balances are restricted firms should report cash with the amount restricted identified. Restricted cash amounts may come about because of lenders requiring that compensating balances be maintained by firms with outstanding loan <http://0-2u.com/?go=loan> balances.
Receivables
Receivables can be separated into two categories, trade receivables, and nontrade receivables. Trade receivables are further categorized as Accounts Receivable, and notes receivable. Accounts receivable are accounts for which credit sales were allowed. Thus, accounts receivable should only be associated with the sale of goods on credit. They should not include other forms of receivables. Notes receivables represent short-term lending activity of the firm. In many cases the receivables that are not credit sale receivables will be grouped under the label notes receivable. Nontrade receivables include advances to officers, advances to subsidiarys, damage deposits, deposits for guarantees, and dividend and interest receivables.
Recording Receivables
Recording recievables occur when the goods have been transfered to the customer. Some firms entice customers to pay early by offering discounts if the account is paid in full by the end of a specified time period. For example, if the firm is offering 2/10 net 30, it is offering the customer a 2 percent discount if paid in 10 days and requires the full amount in 30 days. When discounts are offered firms must decide how to record the discount. The decision is whether to assume that everyone will take advantage of the discount and record the receivable at its net value (net method) or wait until the customer pays the bill and adjust accordingly when the customer pays within the discount period (gross method). The decision about which method to use depends on the type of information management is looking for. Is management interested the total number of discounts taken or forfeited. Under the net method the number of discounts forfeited is recorded when the customer fails to take advantage of the discount intially recorded. Under the gross method only the discount taken is recorded. Both accounts indicate something about the receivables policy of the firm.
If you are a tertiary student and get Youth Allowance or Austudy Payment, liquid assets can be reduced by certain costs directly related to studying, including:
* up front course fees; and
* HECS payments; and
* union fees; and
* the cost of text books; and
* the cost of any tools or equipment required to undertake the course, including computer software; and
* expenses directly related to any field trips you need to taken for your course.
[ return to top ]
How do liquid assets affect my payment?
Liquid assets may affect you if you get:
* Youth Allowance;
* Austudy Payment;
* Newstart Allowance; or
* Sickness Allowance.
Your payment will not be affected if your liquid assets are less than $2 500 (single) or $5 000 (couple or single with dependents).
If your liquid assets are above this amount, there will be a liquid assets waiting period. Centrelink will let you know how long you have to wait before you can be paid, which can vary from 1-13 weeks depending on:
* the amount of your liquid assets; and
* whether you are a member of a couple; and
* whether you have dependent children.
Non-liquid assets include real and personal property. Criteria for evaluation of personal property and exclusion of non-liquid assets from combined total resources recognizes the following:
Feasibility of and time required for conversion of non-liquid assets into liquid assets of reasonably equivalent value, including evaluation of ready marketability of assets, legal restrictions on sale or transfer, or other factors affecting practicality of sale or transfer; and
Restricted availability of certain types of personal property (e.g., trust funds, etc.)
Where an asset is deemed "non-liquid", it is understood and agreed that its exclusion is contingent upon the undertaking by the applicant to use his/her best efforts to sell such asset or convert such asset into a liquid asset of reasonably equivalent value.
Assets, such as securities, mortgages <http://go-acct.com/?go=mortgages>, or notes, etc., which cannot readily be converted to cash shall be evaluated considering the immediate and long-range feasibility of conversion to a reasonable cash equivalent. The applicant must agree to sell these assets within a reasonable period of time in order to qualify or continue to receive benefits. A signed agreement will be initiated, defining the assets that must be sold, the expected amount to be received and a date that the transaction shall be completed. At the end of stated period of time an evaluation of the agreement shall be made to see if the conditions have been fulfilled.
Securities, where feasible, shall be converted to cash. If the principal due on a note or mortgage <http://go-advertising.com/?go=mortgage> payable to the recipient appears to be a reasonably available resource, the Department may assist the recipient to obtain payment of the full amount.
In cases where payments are being received on notes and mortgages <http://go-advertising.com/?go=mortgages> according to a time payment contract and are being considered as income, it is not necessary for the client to agree to convert to liquid assets, although that option is available.
If payments are not being made on a time contract and steps are not being initiated to foreclose, the entire equity remaining in a mortgage <http://0-2u.com/?go=mortgage> shall be considered as a resource. If such resource exceeds the maximum allowable, the case will be closed.
An asset is considered liquid when it can be converted to cash without losing much (if any) of its value. Therefore, cash is the most liquid asset possible. If you've got cash, then you can buy goods or services as soon as you get to a store.
A checking account is also a liquid asset, but it isn't as liquid as cash. With a checking account you've got to cash a check or visit an ATM, or use a debit card. Either way, there are a few extra steps involved in using your checking account to buy goods or services.
Savings accounts, money market accounts, and other short-term investments are also considered liquid assets.
Assets that are not close to being defined as liquid assets are often called fixed assets. Your home is a good example of a fixed (non-liquid) asset. It takes time to convert a home into cash. Real Estate, cars, and other "property" are also fixed assets.
What assets are counted as liquid assets?
Liquid assets include:
* cash on hand;
* shares and debentures;
* term deposits;
* other money available at short notice;
* some payments made or due to be made (within 28 days) by your last employer;
* 10 year insurance bonds;
* amounts deposited or lent to banks or other financial institutions whether or not the amount can be withdrawn or repaid immediately;
* amounts borrowed from the bank for a specific purpose such as overseas travel that may not have been used for the said purpose;
* assets given to a son or daughter in some circumstances;
* loans to other people;
* unencumbered proceeds from sale of business;
* any money in trust funds, bank accounts including mortgage offset accounts, BUT NOT balances of mortgage redraw accounts;
* redundancies or eligible termination payments that are not rolled over or cannot be rolled over; and
* compensation payments.
[ return to top ]
What are not counted as liquid assets?
Liquid assets DO NOT include:
* superannuation and termination payments which have been rolled over or are going to be rolled over directly from your employer;
* proceeds from the sale of your principal home in some circumstances; and
* voluntary one off payments of your non housing debts in some circumstances.
.Liquid Assets
A firm's primary liquid assets are
Cash
Receivables
Marketable Securities
Cash and Cash Equivalents
Cash creates mangement control problems because of the ease with which it can be converted to uses outside the firm. It also generates problems in terms of how much cash should the firm have on hand. Too little cash means the firms is likely to have problems covering current expenses (wages, utilities), too much cash means the firm is not getting a return on funds that it could if the excess cash were invested in other short term assets. On the balance sheet firms indicate their cash and cash equivalents. Cash is obvious and includes all the forms of cash the firm has on hand (petty cash, bank balances, etc.). Cash equivalents are items that can be converted to cash in a very short time. For example commercial paper with a maturity of less than 30 days is considered a cash equivalent. When bank balances are restricted firms should report cash with the amount restricted identified. Restricted cash amounts may come about because of lenders requiring that compensating balances be maintained by firms with outstanding loan <http://0-2u.com/?go=loan> balances.
Receivables
Receivables can be separated into two categories, trade receivables, and nontrade receivables. Trade receivables are further categorized as Accounts Receivable, and notes receivable. Accounts receivable are accounts for which credit sales were allowed. Thus, accounts receivable should only be associated with the sale of goods on credit. They should not include other forms of receivables. Notes receivables represent short-term lending activity of the firm. In many cases the receivables that are not credit sale receivables will be grouped under the label notes receivable. Nontrade receivables include advances to officers, advances to subsidiarys, damage deposits, deposits for guarantees, and dividend and interest receivables.
Recording Receivables
Recording recievables occur when the goods have been transfered to the customer. Some firms entice customers to pay early by offering discounts if the account is paid in full by the end of a specified time period. For example, if the firm is offering 2/10 net 30, it is offering the customer a 2 percent discount if paid in 10 days and requires the full amount in 30 days. When discounts are offered firms must decide how to record the discount. The decision is whether to assume that everyone will take advantage of the discount and record the receivable at its net value (net method) or wait until the customer pays the bill and adjust accordingly when the customer pays within the discount period (gross method). The decision about which method to use depends on the type of information management is looking for. Is management interested the total number of discounts taken or forfeited. Under the net method the number of discounts forfeited is recorded when the customer fails to take advantage of the discount intially recorded. Under the gross method only the discount taken is recorded. Both accounts indicate something about the receivables policy of the firm.
If you are a tertiary student and get Youth Allowance or Austudy Payment, liquid assets can be reduced by certain costs directly related to studying, including:
* up front course fees; and
* HECS payments; and
* union fees; and
* the cost of text books; and
* the cost of any tools or equipment required to undertake the course, including computer software; and
* expenses directly related to any field trips you need to taken for your course.
[ return to top ]
How do liquid assets affect my payment?
Liquid assets may affect you if you get:
* Youth Allowance;
* Austudy Payment;
* Newstart Allowance; or
* Sickness Allowance.
Your payment will not be affected if your liquid assets are less than $2 500 (single) or $5 000 (couple or single with dependents).
If your liquid assets are above this amount, there will be a liquid assets waiting period. Centrelink will let you know how long you have to wait before you can be paid, which can vary from 1-13 weeks depending on:
* the amount of your liquid assets; and
* whether you are a member of a couple; and
* whether you have dependent children.
Non-liquid assets include real and personal property. Criteria for evaluation of personal property and exclusion of non-liquid assets from combined total resources recognizes the following:
Feasibility of and time required for conversion of non-liquid assets into liquid assets of reasonably equivalent value, including evaluation of ready marketability of assets, legal restrictions on sale or transfer, or other factors affecting practicality of sale or transfer; and
Restricted availability of certain types of personal property (e.g., trust funds, etc.)
Where an asset is deemed "non-liquid", it is understood and agreed that its exclusion is contingent upon the undertaking by the applicant to use his/her best efforts to sell such asset or convert such asset into a liquid asset of reasonably equivalent value.
Assets, such as securities, mortgages <http://go-acct.com/?go=mortgages>, or notes, etc., which cannot readily be converted to cash shall be evaluated considering the immediate and long-range feasibility of conversion to a reasonable cash equivalent. The applicant must agree to sell these assets within a reasonable period of time in order to qualify or continue to receive benefits. A signed agreement will be initiated, defining the assets that must be sold, the expected amount to be received and a date that the transaction shall be completed. At the end of stated period of time an evaluation of the agreement shall be made to see if the conditions have been fulfilled.
Securities, where feasible, shall be converted to cash. If the principal due on a note or mortgage <http://go-advertising.com/?go=mortgage> payable to the recipient appears to be a reasonably available resource, the Department may assist the recipient to obtain payment of the full amount.
In cases where payments are being received on notes and mortgages <http://go-advertising.com/?go=mortgages> according to a time payment contract and are being considered as income, it is not necessary for the client to agree to convert to liquid assets, although that option is available.
If payments are not being made on a time contract and steps are not being initiated to foreclose, the entire equity remaining in a mortgage <http://0-2u.com/?go=mortgage> shall be considered as a resource. If such resource exceeds the maximum allowable, the case will be closed.
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I know, but sometimes they do accept it (though in the beginning they say they want only liquid assets.)
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All this is to show that you can sponsor and support yourself if the need arises, so the house and the RRSP statements will show the INS that you are self sufficient and have the required amt available, so get the RRSP statements and proof /ownership( the current market value of the house)and get it notorized.
disclaimer : these are just my opinions and suggestions.
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Since we're already on the topic,
Do you know if Citabank or Access group loans require the international student to have a social security number? I just got off the phone with UOP and they told me some lenders have changed the rule, requiring now a SS# to the student.
Let me know please, thank you.
I also have another question about F1 visa, but I'll start a new thread for that.
Do you know if Citabank or Access group loans require the international student to have a social security number? I just got off the phone with UOP and they told me some lenders have changed the rule, requiring now a SS# to the student.
Let me know please, thank you.
I also have another question about F1 visa, but I'll start a new thread for that.
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Thanks God for such a nice cousin of yours!.
Nahh, becuase in order to have a university ID you need to be actually enrolled in the school, BUT you can't enroll until you get the loan (or it's pre-approval). So necesarily the SS# comes first.
Nahh, becuase in order to have a university ID you need to be actually enrolled in the school, BUT you can't enroll until you get the loan (or it's pre-approval). So necesarily the SS# comes first.
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Guys........,you can't immagine this cousin of mine .He is like an older brother to me .When I came to Canada for good in 2001 .He called me after like 9 monthes and he asked me what progress did I make in getting licenced in Canada .
I told him "what licence buddy!!!!!! ,I applied to six Canadian schooles & they did not even bother to interview me " .
He said "so what the hell are you doing there ..??? why don't you pack up your budds and come here ??? you can stay in my home and take your part-1 here.I'll pay you for everything,pocket money,cigaretts,books....etc .I won't let you even work"
I told him that I can take part-1 in Canada ,and I explained to him about the MOST IMPORTANT OBSTICLE WHICH IS THE SPONSERSHIP & LOAN CO-SIGNING .
He said " Sam .........do not worry about anything , am your sponsor from cradle to grave.I'll go with you to the end of the road whatever it takes .You just have to concentrate on your board,and leave the rest to me " .
Guys ........., when my cousin came to the states in 1995,I only lended him 6,000 $ to help him , and now he is trying to do anything to help me .
When he called me to tell me about the 50 K line of credits that he arranged for, he said "please forgive me , this is all I could do till now .it is just a bad timing and I already have 20K as loans on me " .
If it was not to him ,I would not even thought about taking part-1.
I told him "what licence buddy!!!!!! ,I applied to six Canadian schooles & they did not even bother to interview me " .
He said "so what the hell are you doing there ..??? why don't you pack up your budds and come here ??? you can stay in my home and take your part-1 here.I'll pay you for everything,pocket money,cigaretts,books....etc .I won't let you even work"
I told him that I can take part-1 in Canada ,and I explained to him about the MOST IMPORTANT OBSTICLE WHICH IS THE SPONSERSHIP & LOAN CO-SIGNING .
He said " Sam .........do not worry about anything , am your sponsor from cradle to grave.I'll go with you to the end of the road whatever it takes .You just have to concentrate on your board,and leave the rest to me " .
Guys ........., when my cousin came to the states in 1995,I only lended him 6,000 $ to help him , and now he is trying to do anything to help me .
When he called me to tell me about the 50 K line of credits that he arranged for, he said "please forgive me , this is all I could do till now .it is just a bad timing and I already have 20K as loans on me " .
If it was not to him ,I would not even thought about taking part-1.
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Hi sam,
There are people who help you in life when you lost all hope.They are kind of messengers from God.
the best way you can repay maybe is to help some one like this when they have no hope..
My friends the best help you can give to anybody is the gift of HOPE🙂
Take care and HOPE
There are people who help you in life when you lost all hope.They are kind of messengers from God.
the best way you can repay maybe is to help some one like this when they have no hope..
My friends the best help you can give to anybody is the gift of HOPE🙂
Take care and HOPE
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Hi everyone :
Am just writting here again due to the PMs am getting from you dear members.I thank you all for your kindness and support.I relly do not know what to say.I have even lost my will & appetite to write anything .This is just like a slow death for me & I feel that am loosing my UPENN acceptance gradually .
I could come up with new 8K only & I have no one left to beg for money.I have 58K now ,but the real problem is that am runing out of time and the OIP needs the documents 6 weeks befor the program starts on the 19th/Aprill ,which means that I have to submitt everything by the 9th of march .
I just wonder why the hell nothing was mentioned about this 70K liquid assets on UPENN site or during the interview day or even on the application form
I really feel that I have been slapped strongly on my face due to the huge amount asked ,NOT being informed , and the lake of time ..guys I feel that I have been cursed .
I just hope to hear from BU,cause I have not heared from them since my interview on 11th/december.It is 7:00 am now and I have not slept since yesterdy ,I can't open my eyes anymore .I'll catch you later .
Am just writting here again due to the PMs am getting from you dear members.I thank you all for your kindness and support.I relly do not know what to say.I have even lost my will & appetite to write anything .This is just like a slow death for me & I feel that am loosing my UPENN acceptance gradually .
I could come up with new 8K only & I have no one left to beg for money.I have 58K now ,but the real problem is that am runing out of time and the OIP needs the documents 6 weeks befor the program starts on the 19th/Aprill ,which means that I have to submitt everything by the 9th of march .
I just wonder why the hell nothing was mentioned about this 70K liquid assets on UPENN site or during the interview day or even on the application form
I really feel that I have been slapped strongly on my face due to the huge amount asked ,NOT being informed , and the lake of time ..guys I feel that I have been cursed .I just hope to hear from BU,cause I have not heared from them since my interview on 11th/december.It is 7:00 am now and I have not slept since yesterdy ,I can't open my eyes anymore .I'll catch you later .
Hey Sam,
what visa are u on? all this is to get an I20 right? there are some visas on which u can start your studies, even if u dont have your student visa or I20.. so, just check that thing out.. or let us know your visa, so we can check it out for u..
And yes, keep praying.. u wont lose your seat in UPenn.. Trust God.. keep Praying, believe me sincere prayers are heard.
keep your spirits.. Tough times never last, but tough people do.
what visa are u on? all this is to get an I20 right? there are some visas on which u can start your studies, even if u dont have your student visa or I20.. so, just check that thing out.. or let us know your visa, so we can check it out for u..
And yes, keep praying.. u wont lose your seat in UPenn.. Trust God.. keep Praying, believe me sincere prayers are heard.
keep your spirits.. Tough times never last, but tough people do.
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Hi SCK :
I am not on any type of VISA right now .I am a Canadian citizen and I can enter the states any time & stay legaly for six monthes by using only my passport .The problem is ;UPENN WILL NOT LET ME START THE PASS UNLESS I HAVE AN F-1 & in order to get the F-1 I need an I-20 as you know .The OIP will not issue an I-20 for me unless I provide a "Bank statment " that prooves that my co-signer has 70K in CASH .
I hope that I can be this tough guy.I do not have any nerves left in me .
I am not on any type of VISA right now .I am a Canadian citizen and I can enter the states any time & stay legaly for six monthes by using only my passport .The problem is ;UPENN WILL NOT LET ME START THE PASS UNLESS I HAVE AN F-1 & in order to get the F-1 I need an I-20 as you know .The OIP will not issue an I-20 for me unless I provide a "Bank statment " that prooves that my co-signer has 70K in CASH .
I hope that I can be this tough guy.I do not have any nerves left in me .
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sam,is it possible for you cousin to sponsor a dependant visa for you,so u can study on your dependant visa instead of student visa
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Ahhhhhhhhhhhhhhhhhhhhhhh.......................guys .........what can I say ......
it is written on my "Hypothitical " X-letter of acceptence the following :
" IT IS NOT POSSIBLE TO DFER YOUR ACCEPTANCE TO THE FOLOWING YEAR " .
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Hey Sam
If I were you, I would call up Berthold and Lopez and re-explain this situation. The fact is you can get sponsorship for $58K in liquid assets now and more will follow soon to complete $75K, right? If they still play hardball with you and give you a run around, ask for a deferment for a year. (Be sincere at this point!) If they still say 'no' then I would forget about them. It's hard I know, you've come so far and achieved something great but if it is simply only allowing rich kids to attend their university, just forget them and find another one!
I would also apply to other universities while you are trying to work things out with UPenn. Trust me, you will get into other programs if you could get into UPenn. You just deserve a better, sympathetic admissions office! I would also re-apply to the Canadian universities with advanced standing. Why not? You'd have more experience with passing of US NBDE Part 1.
If you decide to forego UPenn's offer, then take the time to study for the Part 2 exam. Get it out of your way first and then reapply to other schools in US and Canada. Oh, and don't forget to save up some money and start dating and be on the look out for a rich girl (well, let's just hope she's got a big inheritance!)...
Good luck buddy, UPenn isn't the only one. Believe me, I have been there too. (UPenn or not dilemma...)
Cheers,
2ed.
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Am afraid that is what it is all about buddy,MEGGS already said it ; "IT IS ALL ABOUT MONEY " .
It is only 70K,nothing to mention...............,not that expensive huh
!!!!!Can anyone do this , I bet ya .
Can anyone here find me one??
I can't trust anything ,anymore .
Do you really think that Canadian schools give a dam xxxx about NDBE ??
After whats been going on with me during the few past days ,I guess if you opend my skull , you will not find any organ called "BRAIN" left .
I realy miss your sense of humor buddy ........where have been all the last week .Didn't I tell you last time????? if you can hook me up with one with 70K,I'll take her even if she was 70++ years old ,or just few steps from the grave . Still.....,with 70K she can get a better deal than a Chbby , 5'8 , guy with round glasses .........................Oh I forgot to add..........who has no organ called BRAIN left
.Tell me?? what are we gonna do " during the night "without my BRAIN ?? .Even the Viagra won't help in this situation .Any suggestions regarding this??? .
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I really do like & need these funny comments . .😕 Do you think if I could find this sugar mommy , I can keep her breathing at least till I get an F-1 😛 ??Didn't I invite you for a beer yesterday ??why did not you come ??probably we could share our sorrowes & calm eachother
.I am listining right now to YANNI'S songs called " Prelude " performed in his concert in TAJ MAHAL ( if my memory did not criss cross)...............................yet.
I do not know if you are familier with this song,but if you have not heared it ,try it ......................and you will just start thinking about forfeiture .
Other songs of YANNI that I do highly recommend :
-The rain must fall.
-Santorini.
-Until the last moment.
-Love is all ...............& so many others.
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Hi Rajkang :
Sorry for the late reply & thanks for the time you are spending in helping me .I really appriciate it so much. The form "Affidavit of support " that you have attached looks like a joke in compare to the one that my cousin has to fill .just check it out down.
Regarding the link you have inserted about Biblical University..........,at least they are telling this to their expected students.Search the whole UPENN dental school site & tell me if you can find anything called :
" I-134 or Affidavit of support " ,coz I could not . It just comes to you as a nice surprise
in the mail after you enjoy your acceptence ( for a while) .Mannnnnnnn..........I really feel that I am making my way through life deficulties as if am walking through a field heavly loaded with all kinds of landmines.Come and take a look at my room , I turned it in to a WAR ZONE since I got my acceptence.Colored notices ,applications forms,papers posted on the walls,sleeping aid tablets,eye drops,cigarettes reservoire,calculator,long distance calling cards,lottories...........etc, I do not know if I forgot anything left to mention .
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I know you've probably heard this one before, but what about this loan type? Could your cousin take this one out for you? At least for part of the money.....
http://www.accessgroup.org/students/internationalresources.htm
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My cousin & I are working on Bank One "signature student loan " right now . I do not know if it is gonna work or not?? . I'll check your link and see if I can find somthing new in it.
I just started having a criss-cross eyes due to the sites & links I have been checking everywhere . I guess I need another pair of glasses above the ones I already put .Maybe I need a TELESCOPE.
I just started having a criss-cross eyes due to the sites & links I have been checking everywhere . I guess I need another pair of glasses above the ones I already put .Maybe I need a TELESCOPE.
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What I mean is that with your cash you pay for the summer program, and your cousin takes the sponsored loan on your behalf for the rest of the amount. Will that be enough to please visa officers?
I'm not sure if what I wrote makes any sense, 'cause I don't even remember how the problem started in the first place, I guess I have to go back and read the whole thread from the beggining. 😳
I'm not sure if what I wrote makes any sense, 'cause I don't even remember how the problem started in the first place, I guess I have to go back and read the whole thread from the beggining. 😳
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Latest update :
Salli Mae & Bank One DID NOT approve my cousin .They refused to give us a loan preapproval .They said that he already has 50K as a line of credits which they considered as a large debt 👎 .👎 👎 .
What an Irony................, I just recieved a large box from UPENN today that containes 8 or 9 books for the summer preclinical course.I guess I have to ship it back soon👎 .
Salli Mae & Bank One DID NOT approve my cousin .They refused to give us a loan preapproval .They said that he already has 50K as a line of credits which they considered as a large debt 👎 .👎 👎 .
What an Irony................, I just recieved a large box from UPENN today that containes 8 or 9 books for the summer preclinical course.I guess I have to ship it back soon👎 .
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sam,been following you quite a while.....u probably tried this out,anyway did u try and ask every close friend or relative back home in syria for the 10 k,i think this amount can be raised by family and friends( anyway you would be returning it after you get ur visa)
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I am sorry you are going through this ordeal....Have you tried to consult your case with an inmigration lawyer??? Maybe he can find another way to get what you need... I mean the money not the 70+++ old lady....
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Shilpi :
My cousine arranged for the 50K , My dad for the 15,5 K for the summer course(not included in the 70K ) + & family in Syria sent 8K. I got 58K now and am still missing 12K not 10K .
Elto :
There is no need for any lawyer here .The OIP is following the USA regulations 100 % .I'll write you guys the time line about all what happined ,maybe you can realize how did they squeez me in time :
- 28/01 : I got my acceptance .
- 06/ 02 : I got the I-20 application form .
-12/02 : I called the OIP(SEPARATE DEPARTMENT FROM THE DENTAL SCHOOL & WORKS UNDER IT'S OWN ADMINISTRATION), to ask about the financial certification thing .She JUST SAID " WE ONLY NEED A BANK STATMENT THAT PROOVES YOU HAVE 70 K IN ASSETS ".She JUST SAID ASSETS IN HER E-MAIL & NOTHING WAS MENTIONED ABOUT "LIQUID ASSETS ".
-08/02 : my cousin had already started preparing the bank statmen + affidavit of support (form I-134) for the first attempt .
-19/02 : I called the OIP again to ask about an item in the forms ,but this time the lady TOLD ME SOMTING DIFFERENT ,SHE SAID THAT THE 7OK MUST BE" LIQUID ASSETS ". I called my cousin to tell him & he was more than shocked .He said " whaaaa.....t
what are you talking about ??? why did not she say that from the bigining ????Who the hell has 70k in liquids these days ..I told him that I asked her the same question .
On this day the BONES BREAKING BATTEL + MY REAL MARATHONE RACE WITH TIME STARTED . My cousine is a very occupied Cardiologist & he has conferenses every couple of days & sooooooo... many other responsibilities ....family, full time job ,emergencies,....etc . Honestly , he is runing with me in the same race track ,but with more very heavy weights on his shoulders .
23/02 : He stuffed his account with 50K & my dad tried to put our only home in Syria for sail .Unfortunatly, it is NOT that easy to find a buyer so fast like that .
04 /03 : I got the 8K from family members in Syria .
09/03 : I WAS SUPPOSED to send everything ( I-20 application+ the NEW bank statment + the the NEW affidavit of support = I-134 ) to the OIP & my loan preaproval got rejected .
08 .......till 12 / 03 my cousin has conferences in different states .
Can you guys immagine now what is going on ??? .
If I am late in responding to posts ,PMs,or e-mails .......it is NOT because I did not care . It is just that I tryed what you suggested & it did not work ,or that I am roaming in other directions to find a solution .You also have to keep in mined that am making so many international calles with respect to time differences .For example :Yesterday , I had to stay awake till 4:00am here in order to catch someone in Syria at 10:00 am & I had to wake up the same day at 8:00am(after 4 hours ) to go do my blood tests for UPENN .
My cousine arranged for the 50K , My dad for the 15,5 K for the summer course(not included in the 70K ) + & family in Syria sent 8K. I got 58K now and am still missing 12K not 10K .
Elto :
There is no need for any lawyer here .The OIP is following the USA regulations 100 % .I'll write you guys the time line about all what happined ,maybe you can realize how did they squeez me in time :
- 28/01 : I got my acceptance .
- 06/ 02 : I got the I-20 application form .
-12/02 : I called the OIP(SEPARATE DEPARTMENT FROM THE DENTAL SCHOOL & WORKS UNDER IT'S OWN ADMINISTRATION), to ask about the financial certification thing .She JUST SAID " WE ONLY NEED A BANK STATMENT THAT PROOVES YOU HAVE 70 K IN ASSETS ".She JUST SAID ASSETS IN HER E-MAIL & NOTHING WAS MENTIONED ABOUT "LIQUID ASSETS ".
-08/02 : my cousin had already started preparing the bank statmen + affidavit of support (form I-134) for the first attempt .
-19/02 : I called the OIP again to ask about an item in the forms ,but this time the lady TOLD ME SOMTING DIFFERENT ,SHE SAID THAT THE 7OK MUST BE" LIQUID ASSETS ". I called my cousin to tell him & he was more than shocked .He said " whaaaa.....t
what are you talking about ??? why did not she say that from the bigining ????Who the hell has 70k in liquids these days ..I told him that I asked her the same question .On this day the BONES BREAKING BATTEL + MY REAL MARATHONE RACE WITH TIME STARTED . My cousine is a very occupied Cardiologist & he has conferenses every couple of days & sooooooo... many other responsibilities ....family, full time job ,emergencies,....etc . Honestly , he is runing with me in the same race track ,but with more very heavy weights on his shoulders .
23/02 : He stuffed his account with 50K & my dad tried to put our only home in Syria for sail .Unfortunatly, it is NOT that easy to find a buyer so fast like that .
04 /03 : I got the 8K from family members in Syria .
09/03 : I WAS SUPPOSED to send everything ( I-20 application+ the NEW bank statment + the the NEW affidavit of support = I-134 ) to the OIP & my loan preaproval got rejected .
08 .......till 12 / 03 my cousin has conferences in different states .
Can you guys immagine now what is going on ??? .
If I am late in responding to posts ,PMs,or e-mails .......it is NOT because I did not care . It is just that I tryed what you suggested & it did not work ,or that I am roaming in other directions to find a solution .You also have to keep in mined that am making so many international calles with respect to time differences .For example :Yesterday , I had to stay awake till 4:00am here in order to catch someone in Syria at 10:00 am & I had to wake up the same day at 8:00am(after 4 hours ) to go do my blood tests for UPENN .
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Continue..........
Guys , I just started this thread to get your suggestions,Idias & every tiny littile thought that you may have .If I did not respond right away ,be 100% sure that I am reading everything .I do not even have a regular time to sleep& I allways check e-mails,PMs,& SDN every several minutes.
I just wonder ???? if I was a new international dentist who does NOT know about SDN . If I did not get the idia of "line of credits " from dentaldoc ,or BankOne "loan preapproval " from Helper's post or + ALL YOUR OTHER SINGLE IDIAS , how the situation would have been . NOT every international dentist knows about SDN , so I really thank you all for everything .At least ,I do not feel alone here & your are helping me more than UPENN itself .
Guys , I just started this thread to get your suggestions,Idias & every tiny littile thought that you may have .If I did not respond right away ,be 100% sure that I am reading everything .I do not even have a regular time to sleep& I allways check e-mails,PMs,& SDN every several minutes.
I just wonder ???? if I was a new international dentist who does NOT know about SDN . If I did not get the idia of "line of credits " from dentaldoc ,or BankOne "loan preapproval " from Helper's post or + ALL YOUR OTHER SINGLE IDIAS , how the situation would have been . NOT every international dentist knows about SDN , so I really thank you all for everything .At least ,I do not feel alone here & your are helping me more than UPENN itself .
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Hey
I was reading what u posted and i was wondering if u r cousin or someone can show shares/bonds/mutual funds as financial support. I am positive u could do that for other schools. I think by liquid assets they mean something that can generate money asap. So try that route and see what happens.
I am positive everything will work out
Life is full of miracles , so don't lose hope
I was reading what u posted and i was wondering if u r cousin or someone can show shares/bonds/mutual funds as financial support. I am positive u could do that for other schools. I think by liquid assets they mean something that can generate money asap. So try that route and see what happens.
I am positive everything will work out
Life is full of miracles , so don't lose hope
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You are 100% right...thank God for this forum.... I am faaaaaar away from getting acceptance but by reading all the posts I know now the kind of Cr....I will have to deal with someday...
It is unbeliveable the kind of games that some people play in this , they know they have the "power" and they don't care if your dreams are destroyed... I wonder if this happens in every University (hiding some info at the beggining) or this is the only one???
😡 😡 😡 😡 😡
I really really hope you can solve this situation soon....
It is unbeliveable the kind of games that some people play in this , they know they have the "power" and they don't care if your dreams are destroyed... I wonder if this happens in every University (hiding some info at the beggining) or this is the only one???
😡 😡 😡 😡 😡
I really really hope you can solve this situation soon....
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Here is what I was going to add in the last post .Any school that is going to issue an I-20,ask the student to send the I-20 application approximatly six weeks befor the program starts .
For example ,at BU they are also asking students who need an I-20 to show a "financial statment "of 76k in liquid assets ,but since their program starts in August , the students has a plenty of time to do that ,AT LEAST 4 1/2 monthes.It is just NOT fair to squeeze me so hard to come up with 70k in 3 or 4 weeks & without any warning .
For example ,at BU they are also asking students who need an I-20 to show a "financial statment "of 76k in liquid assets ,but since their program starts in August , the students has a plenty of time to do that ,AT LEAST 4 1/2 monthes.It is just NOT fair to squeeze me so hard to come up with 70k in 3 or 4 weeks & without any warning .
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Mystiq :
The bank statment , the form (I-134 =Affidavit of support)& the employer's letter must ALL be under THE SAME ONE name which is my cousin's name ,So even if I could find someone else with these shares/bonds/mutual funds.........this won't do me any good .
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Sam,
Can't your cousin borrow money from his friends just for a couple of days, all he has to do is get a bank statement stating that he has that amt in the bank after which he can return that amt to his friends.
Henna
Can't your cousin borrow money from his friends just for a couple of days, all he has to do is get a bank statement stating that he has that amt in the bank after which he can return that amt to his friends.
Henna
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Hi Henna :
Nice talking back to you & thanks for your support .My cousine already borrowed about 10 K from his friends when arranged for the 50 K line of credits .
I can't press more on him & I do not want him to be embaresed more by asking people .He did his best till now .
Nice talking back to you & thanks for your support .My cousine already borrowed about 10 K from his friends when arranged for the 50 K line of credits .
I can't press more on him & I do not want him to be embaresed more by asking people .He did his best till now .
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Hi Rajkang :
My cousin is trying to get his wife as a 2nd sponsor right now ,though this won't help that much as long as the total 70K is not all available.
Regarding other sources of private loans ,He tried several of them & it did not work till now because he already has a HUGE amount of debt right now(most of it is due to the line of credits he arranged for me) .He also still have another 15K from previous study loan which he did not return till now.
He has about 65 to 70K in debt right now .I can't BURN him more than that ,still........we are trying to figure a way out .
My cousin is trying to get his wife as a 2nd sponsor right now ,though this won't help that much as long as the total 70K is not all available.
Regarding other sources of private loans ,He tried several of them & it did not work till now because he already has a HUGE amount of debt right now(most of it is due to the line of credits he arranged for me) .He also still have another 15K from previous study loan which he did not return till now.
He has about 65 to 70K in debt right now .I can't BURN him more than that ,still........we are trying to figure a way out .
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Latest update
Hi everyone :
I got new 17K yesterday from my family back home. My cousin got it yesterday at 1:00 pm .He took the rest of the day off from his job & he arranged for the Bank statment of 75K .He sent me all the needed supporting documents yesterday night .
I am expecting the FedEx guy any minute now with coffee & cockies ready for him .................................I LOVE FEDEX .I will send everything today to the OIP .I still hope to make it to UPENN .I will catch you later my friends .
Hi everyone :
I got new 17K yesterday from my family back home. My cousin got it yesterday at 1:00 pm .He took the rest of the day off from his job & he arranged for the Bank statment of 75K .He sent me all the needed supporting documents yesterday night .
I am expecting the FedEx guy any minute now with coffee & cockies ready for him .................................I LOVE FEDEX
.I will send everything today to the OIP .I still hope to make it to UPENN .I will catch you later my friends .Similar threads
