Currently, Dreams of students aspiring to study abroad have been fading when a financial issue comes up. Many brilliant students have received admission confirmation letters for academic courses, but are struggling to get visa confirmation for the huge amount of bank deposit. Although they are applying for student visas, they have to show the money from their parents, sometimes help with relatives and friends. Moreover, the duration of the bank deposits also prolongs, for instance not less than six months. Being a student it is a herculean job to arrange the money.
With all accounts, getting a student visa in Canada is a difficulty due to financial reasons. Canada has recently launched the SDS – Student Direct Stream for students from India, Vietnam, China and the Philippines. This program is in collaboration with one of the leading monetary organizations in Canada, the Scotia Bank. The SB will offer eligible students a chance to purchase a GIC – Guaranteed Investment Certificate worth 10,000$. GIC (guaranteed investment certificate), which is a safe and secure investment having very little risk. You do not have to worry about losing your money because it is guaranteed to be refunded by the Canadian government. A GIC works like a savings account which you deposit money into and earn interest. It will cover 1-year expenses of the students as well as cater to the SDS program requirements. The purpose of launching SDS is to offer good quality education to the most eligible and deserving students. All the Institutions and Colleges in Canada with DLI number are covered under the SDS program. It will fast-track the Canada Study Visa for overseas students under the program including Bangladesh but we are not enrolling with the GIC bank system.
If any student wants to apply through the SDS they have to deposit 7 lakhs in their bank account which would be refundable by the Canadian government if the student applied through the GIC bank system. They’ll also have to deposit a year’s worth of tuition fees in advance that will cover GIS and have a band 6 IELTS score. They also wouldn’t need to show 40 or 50 lakh taka bank statements. Middle class citizens can study in Canada spending (approximately) 14 lakh taka only.
Many skilled students from impoverished backgrounds have to see their dreams fade due to not being able to show bank statements because of financial reasons; in our neck of the woods we are sadly experiencing this reality. All Asian countries enjoy these amenities and therefore their student visa success rate is much higher than ours.
Bangladeshi young intellectual generations have all the qualities necessary to achieve a visa to Canada. Bangladesh is an SDS listed country but we are unable to entitle for the facilities we need to enroll with the GIC bank system. Nevertheless, our Ministry of Foreign Affairs should take more proactive steps in order to galvanize us to become a fully SDS and GIS listed country. There is always light at the end of the tunnel, we hope our Ministry of Foreign Affairs and secretariats will work together for our bright upcoming.
Yasmin Ara is a freelance writer . She can be reached at : Shaba.