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Discussion Starter · #1 ·
Our son will be going to school in the U.S. and we need to provide proof that we can support him for a year. The the only types of instruments that they will accept is cash, GICs, money market funds. Very liquid assets. They will not accept stocks and bonds.

I don't have this much money in liquid assets (over 80K Canadian). I'm thinking of tapping into my margin account, my LOC etc. and just buying a term deposit for 30 days. However I'll lose quite a bit of money with interest and the rates of TD is low.

Is there anything else I could try? Maybe sell my stocks that aren't growing much?
 

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Margin ? Loc? Assuming you do actually plan to support them, where/when do you plan to get the money from? Liquidating some equity now might not be a bad idea even if the money isn't needed for several months. Do you have gains & losses you plan to crystalize?
Then yes, put the proceeds in a short term deposit or whatever best meets your timing needs.
 

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payorder solution

Our son will be going to school in the U.S. and we need to provide proof that we can support him for a year. The the only types of instruments that they will accept is cash, GICs, money market funds. Very liquid assets. They will not accept stocks and bonds.

I don't have this much money in liquid assets (over 80K Canadian). I'm thinking of tapping into my margin account, my LOC etc. and just buying a term deposit for 30 days. However I'll lose quite a bit of money with interest and the rates of TD is low.

Is there anything else I could try? Maybe sell my stocks that aren't growing much?
payorder is the best solution from your local bank for US financial need for your student....
 

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Discussion Starter · #4 ·
Only one school is asking for this information with the application. For the rest, I don't need it till later when he applies for an F1 visa. I'm now hoping he'll just continue school in Canada.

I've never heard of pay order but will have to learn more about it. Thank you.
 
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