How much is enough ?

This is a question I’ve seeked an answer to from multiple sources. To clarify the question itself first, I’m referring to the cash requirement stated by French consulate authorities for the student visa processing to go smoothly.

(Again, this stems from my ongoing process of applying for a student visa for studying at HEC, Paris)

So firstly, how much is enough ?

There are two parts to this. First the student is travelling alone (the majority case) and second is where the student is moving alongwith a dependent partner.

You need to show funds for
1. Tuition Fees
2. Living expenditures (Self)
3. Living expenditures (Dependents if they are travelling with you)

For a student travelling alone the amount deemed required for the living expenditure of self is set at is 537 Euros/month for the duration of the course. (12 months in case of the HEC MBA, as four months are supposed to be paid internship)

If you are travelling with dependents (in my case I will be accompanied by my wife and 2 year old daughter), the above requirement is void. Instead, what I’ve been told is “You have to justify that you can provide for your family in France, you should at least meet the amount of 1 070,76 €/months which is the amout of the minimum wage determined for 2011”

Now the next aspect, what are the acceptable forms of proof of funds ?

Essentially anything with liquidity is acceptable.

  • Several candidates may apply for loan for part or entire amount. A sanction letter from the financial institution stating the amount provided as loan will act as one financial proof.
  • Savings Bank Balance: This is by far the best possible proof of source of funds. High liquidity makes this as the most preferred ( I do not know of any requirement of holding certain amount of cash for a pre-set period)
  • Fixed Deposits: Yet another easily accessible liquid source of funds.
  • PF: Some (like me) would intend to withdraw the hard earned provident fund. Well a PF statement showing the balance in your PF should suffice. This is usually not up to date when it is a government PF; I intend to furnish a letter from my company stating the current estimated PF balance. (will update this info once I’ve processed my visa docs).
  • PPF: PPF passbook statements should also be a good source to indicate source of funds.
  • Any other liquid assets like Equity/MF investments should also suffice…

In the case where we show funds from anyone-but-self, we need to furnish a plain paper declaration from the person, stating that he/she will be sponsoring our education and we must provide the essential documentary evidence supporting it.

That’s it. This was a good revision for me, before I prepare for my visa interview. Hoping this proves useful to others seeking info.

Its a distant hazy future..

After having worked in the technology domain for close to eight years, its time for a change. I have been contemplating this for some time now, only in the past 2 years did this decision get some more shape. Time to add another educational qualication for the resume, time to move on beyond the graduation.

One rescheduling for the GMAT date and three applications later, here I am preparing to move to my new alma-mater, the HEC School of Management, Paris. The journey in the future promises a roller coaster ride. Do I manage to stay on the car or will the external forces be too much to handle? Am betting on the former than the latter.

Its the start of November now and in 2 more months, accompanied by fellow MBA candidates, I shall be trudging along into the vast green lush campus of HEC. Some of us have already met in-person before, some are e-friends – thanks to the social media rage.

The wisdom of my decision is challenged With the global economic condition not being in a pretty state. Adding to it, is the exceptional state of the Euro zone of nations. What will happen at the end of it (or at the new beginning of it) is not known.

During our graduation days, lots of classmates moved to the US to pursue their MS. A few seniors also advised then, that the recession (which started in 2000) would eventually be over by the time the MS is done with. As with any patterns (like those of the stock market as well) the current scenario seems to be ‘oversold territory’ (tech chart jargon). I believe, thats the only positive. The world has to come out of the ‘oversold’ and the seniors’ advice would be right yet again.

Do I want to do this..?

I’ve been contemplating this for over a year..! Not sure what stopped me from doing this. Want to start now. Don’t ask why, but.. its an unusual day for me to start but its 1/11/11 today, guess not bad for a 1st blog.

Am just confused about what I should write about… I guess I would blog about varied things.. sometimes about the tech world, sometimes something about photography, sometimes (more often for now I guess) about my preparations towards moving to HEC Paris for a 16 month MBA (believe me, anyone who’s been through this already, knows there’s a lot one can share, yet leave out much to be desired)
So the next one might have anything among these…