Thanks for your quick reply ! Will post more queries, if they come up

Have a nice weekend !

-dhruv

Emmanuel, I am glad to hear you have acquired valuable skills which you have honed through passion. This is a key element, I believe, to achieving success and I believe if you keep at it you will go far. If you do not feel there is sufficient opportunity to continue to build your skills in your home town or city, I would advise looking into more specific programs within schools where you think you would be able to achieve your goals. Once you have something in mind, begin researching scholarship opportunities or loan programs where you can finance your education and hopefully from there things will begin to fall into place. Hope this helps, wish there was more I could say, but best of luck!

Hi Dhruv, First off, congratulations on your admission to IE – great school! Ok, as always, I have to preface my comment with a disclaimer saying I do not work for the Spanish government, so nothing I can say is definitive in any way, but I will try to at least let you know what I think. Based on all the information you’ve shared, here is what I think you need to do (if you haven’t already):
Gather everything together, get all original documents and make multiple copies of everything. Now, come up with your “financial story” that you can tell in thirty seconds about why the visa people will not have to worry about you needing money. I’m sure you can come up with something better than I can, but here’s what I’d imagine you’ll want to do/say:

*hand first document/receipt for 20% payment* Here is my receipt for the initial 20% payment to hold my place in the program.
*hand bank account balance* Here is evidence of available funds in my bank account presently.
*hand solvency certificate and letter from parents stating intent to provide you with necessary funds* Here is evidence that my parents have, and agree to provide me with any means necessary in the event I need financial assistance.
*hand loan application forms or anything related to these applications* Here is evidence that I have applied for and am awaiting approval for XXX euros of financial aid. Approval should come by X/X date.
*hand credit card limits, scholarship application info, etc* Here is evidence that I have also available credit and potential scholarship funds that may become available in the near future.

If you present your documents orderly and with clear support to show your financial ability to cover yourself for the duration of the program, you will hopefully be fine. The ringer is going to be whether or not they are humored by your parents funds, as it may be technically about as good as cash…it’s not cash, so I don’t know. I would hope you will be fine, just be prepared to make your case and that’s all you can really do. I hope this helps and I wish you the best of luck as well!

Hi Maptik, it is great to hear you wish to study abroad, however without more information I don’t really have much to say other than at 16 years old, your parents will have to play a big role in the visa process. If you wish to provide more details, I may possibly be able to point you in a more helpful direction, however with what you’ve said I think this is the best I can do. Best of luck!

Matt

This is dhruv from India. I got a definitive admission from Instituto de Empresa Business School for Master in Telecom and Digital Business and in the process applying for the Spanish VISA.

Exploring my finance options I will need to apply for a loan. I have started the process, but the approval will take time. I have also applied for scholarships, but yet to hear from the Scholarship Committee.

Keeping in mind the lengthy VISA process with my classes starting on Sep 15, I would need to apply for the VISA before the loan approval.

I have already paid 20% of the fees to book my seat and the remaining amount would be 38000 euros (with tution and living expense) for 16 months.

My personal bank balance is 7000 euros and my parents dont have liquid cash in their account but can provide a solvency certificate( with FDs etc as they don’t have any liquid cash) worth 32000 euros.

Will presenting these financial documents before the Spanish Consulate help me in the VISA process ? Or they are looking for more of them .

Appreciate your time and looking forward to your reply.

-dhruv

Matt

Mohan.P

Congrats on your admission to ESADE! You should be very excited!

Now, for the nitty gritty of your post…loans. It’s a scary word these days, but there is really little I can do about it at this point and will trust this was an investment for the long run, so it is all going to be worth it in the end.

As for the funds I took out, bear in mind the transaction went through when the dollar was still around $1.30/euro, so it has weakened a good bit since then. Either way, once those funds were disbursed to ESADE, they converted it all and transferred the remainder into my Spanish account. So, I never really dealt with dollars and have therefore been able to manage my budget just fine, dollar fluxuation and all.

I also paid the deposit out of pocket, and if youre going to use the Sabadell loan (are they pushing that these days?) for tuition, I would recommend for living expenses to first max out the Federal funds and then go to Grad Plus for the rest. There is really no reason you should have to go private, unless you’re looking to blow some serious dough, but I’m guessing this isn’t the case.

Finally, and I don’t know if you’ve already got this figured out, but with regard to how much to take out I would use the guide on the welcome site to gauge how much you’ll need and form your initial budget around this. Then, do a conversion to dollars and maybe add a little to be safe and, if you convert it all up front, you’ll know how much in dollars you’re going to owe in the end and you’ll know how much in euros you’ll have to budget going forward and won’t have to concern yourself with the dollar’s changes after that.

I hope this is helpful, please feel free to ask more questions if you have them and I’d be happy to try to help!

Take care,

Matt