Step 7: Proof of Financial Support

The U.S. government requires that all international applicants provide proof of ability to pay tuition, all living expenses, books, medical insurance, and travel for the academic year they are attending. This requirement is for you and your dependents (if applicable) before an I-20 can be issued.

All Financial Documents Must Have:

  • Current date (no earlier than 3 months)
  • Account holder’s name
    • Documents for banks, scholarships, etc., must be on official letterhead and include signature/stamp of an administrative officer or official
  • Must state the available final balance/total scholarship amount
  • Certified, professional translations for all financial documents not issued in English
  • If the account holder is someone other than the student, a sponsorship letter OR Affidavit of Support must be included. The letter must state the account holder and student’s name, current date, and relationship between the student and their sponsor. We will need a copy of the student's driver's license or copy of their passport to verify their signature.

Types of Financial Support that are Normally Accepted*

  • Bank letters/statements from savings and checking accounts (if a monthly bank statement is provided, only the closing balance of the most recent date will be counted)
  • Funds in investment accounts
  • Approved educational loans
  • Employer and government sponsorships/scholarships

Types of Financial Support that are NOT Accepted*

  • Tax returns
  • Salary/Payroll statements
  • Chartered Accountant portfolio
  • Pending or provisional educational loans or scholarship documents
  • Retirement funds, pension, life insurance policies
  • Investments in fixed assets such as property, mortgages, automobiles, etc.

 *These are the most commonly submitted documents. The Global Education Office will make the final determination as to what constitutes an acceptable financial statement.