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Express Entry and UK student loans

Express Entry and UK student loans

Old Jan 5th 2017, 3:57 am
  #1  
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Default Express Entry and UK student loans

Hi all,

I have my EE ita! Yay! Now, I have the minimum funds needed in my account however I also have a student loan.

Now, do we declare the student loan and if so is it counted against you?
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Old Jan 6th 2017, 12:47 am
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Default Re: Express Entry and UK student loans

From the EE Online Services (MyCIC) instructions for Proof of Means of Financial Support:

Originally Posted by MyCIC
Express Entry - Permanent Residents

If you are applying for permanent residence in Canada, you must provide an official letter issued by your financial institution indicating your financial profile. This must:

- list of all your bank (chequing and savings) and investment accounts, the account numbers, dates each account was opened and the balance of each account over the past six months,
- list all outstanding debts, such as credit cards and loans,
- be printed on the letterhead of the financial institution, and include your name and the contact information of the financial institution (address, telephone number and e-mail address).
(Emphasis mine.)
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Old Jan 6th 2017, 1:40 am
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Default Re: Express Entry and UK student loans

I would declare for full disclosure but would also be worth including details from SLC on how these operate i.e. they are not standard loans in that the payment terms, % etc. are all mandated by government policy.

It would be very harsh to count these against someone, but I am not sure how they look at them.
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Old Jan 6th 2017, 2:57 am
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Default Re: Express Entry and UK student loans

Originally Posted by Engineer_abroad
I would declare for full disclosure but would also be worth including details from SLC on how these operate i.e. they are not standard loans in that the payment terms, % etc. are all mandated by government policy.

It would be very harsh to count these against someone, but I am not sure how they look at them.
I would probably go with this.

Definitely add some info in your Letter of Explanation on how these don't affect your credit score in the UK.
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