F-1 student visa proof of funds
July 15th, 2021 by IEFA
Once you’ve narrowed down your choice of schools and confirmed admissions, the next step is to apply for an F-1 international student visa to get authorization to study in the U.S.
All prospective foreign students are required to demonstrate that they have the financial capability to support him or herself while studying in the U.S. This includes covering tuition and fees, living expenses, and any dependents – without working during your studies.
Proof of funds for U.S. student visa
To meet the proof of funds requirement for your F-1 visa, demonstrating your financial ability is crucial for the visa process as it shows you have sufficient funds to cover your education and living expenses in the United States. You will either need to present proof of funds for yourself or do so through a sponsorship (such as a relative financially backing or funding your education), and applicants must submit evidence of their financial ability as part of the application process. It is important that you check directly with the consulate as the financial evidence required may vary by country and agency, but here are some general considerations and documents you should bring during your visit.
Proof of liquid assets
The consulate will want to see that you are able to cover the cost of your education and living expenses. While there are generally no specific documents that prove this, there are some commonly used documents that help support proof of funds including:
- Original tax returns from the last three years (Form 16)
- Three years of bank records and/or fixed deposit statements of your sponsor (which can also be your parent)
- Pay slips, employment letters
- Chartered accountant statements
- Scholarships (which should be indicated on your I-20)
- Property documents
- Account statement
- Original bank statement
These financial documents should reflect the applicant’s own currency to ensure clarity and ease of conversion to U.S. dollars.
The U.S. government is concerned more with liquid assets such as savings accounts and checking accounts since they want to ensure that you have easy access to these funds. Investments with fluctuating values and property deeds are not generally recommended as acceptable proof of funds. The embassy is looking to see that you have immediate funds to cover the first-year costs of your education and that you’ll have access to funds for the following years needed to complete your degree.
Original financial documents in English
Additionally, it is important that all of your documents are original, in English (or an official translation attached), and official. Your bank statement and documents should be on bank letterhead with the name of the account holder, account number, and the total amount of funds indicated on the forms.
Financial sponsorship
If you are planning to study in the U.S. but do not have sufficient personal funds yourself, many international students rely on a financial sponsor, such as a family member or an entity, to provide financial support instead. Many international students have a financial sponsor, such as a family member, to help cover their educational expenses. Sponsors can be located inside or outside the U.S.
Financial support can come in various forms, including scholarships, family support, or a loan sanction letter, demonstrating the availability of funds to support the entire academic program.
There are a lot of available scholarships that are designed specifically for international students. You can search for the latest listings of international scholarships.
All you have to do is to make sure that you are eligible for the scholarship. Some of the requirements are having the right positive attitude in school and towards one’s future career, the willingness to excel in his or her academics, and many more.
Affidavit of support form
If the student is sponsored by a U.S. citizen, they would need to complete and submit the I-134 Affidavit of Support Form that requires the sponsor to cover any expenses that the student cannot afford.
If the student is sponsored with funds outside the U.S., then the embassy would check to see if there are any fund transfer restrictions from the specified country. If there are any restrictions, the student must be equipped with a letter of evidence that the student will be able to access these funds during the period of study.
Consulate and embassy services for student visa
The final determination of whether an applicant has sufficient funds to cover tuition and living expenses is made by the consulate or embassy. Even if you provide these documents, they can still deny the student visa. Be sure to check with your school and consulate to make sure you have all the proper documentation and forms necessary when arriving for your F-1 student visa interview.
Also, make sure that you are prepared to answer all of the questions in the interview in the best way possible. Be eloquent, explain things clearly and in a straightforward manner, and always be at your best form. Doing these and matching it with your complete documents and visa application gives you a higher chance of being accepted for an F- Visa. It’s crucial to demonstrate your financial ability to cover tuition and living expenses during the visa interview.
*Please note: you should always confirm the latest requirements with official sources as they can change and this article may not reflect the latest changes.
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i want to sponsor my wife for her master program to the US, along with 3 kids
is it doable and what is the process?
Hi there,
Please note that I cannot offer personalized advice. The process of sponsoring your wife and three children for their master’s program in the US may vary depending on individual circumstances and immigration regulations. It is important to consult with an immigration attorney or seek guidance from the US embassy or consulate in your country to obtain accurate and up-to-date information specific to your situation. They will be able to provide you with the most relevant guidance and requirements for sponsoring your family’s education in the US.
Hello Team,
I’ve to ask you if I am to apply for an F-1 sponsor visa, know if the sponsor can give all the required documents, the applicant (me) can also submit the bank statement or not. Is the bank statement required for the applicant is it compulsory or not?
Thank you
Thank you for your question regarding the F-1 sponsor visa application. However, please note that we cannot provide personalized advice or specific recommendations for your individual circumstances. Visa requirements and documentation can vary depending on various factors, including the country you’re applying from and the specific visa regulations in place.
To ensure you have the most accurate and up-to-date information, it is highly recommended that you consult with an immigration attorney or contact the embassy or consulate directly. They will be able to guide you through the application process, inform you about the necessary documents, and clarify any requirements regarding the bank statement.
Best of luck with your F-1 sponsor visa application!
What happens is your sponsor has a business account? Please advise thanks.
Hi,
Thank you for your comment, we regret to inform you that we are unable to provide personalized guidance in this matter.
For comprehensive information on visa options and application procedures, we recommend visiting the InternationalStudent.com website. There, you will find valuable resources and guidance to help you navigate the visa process. https://www.internationalstudent.com/immigration
Hey there, My uncle is a US citizen and and have been living there for the past 35 years. He would like to sponsor me for doing my master’s in the Usa. Is that a problem while attending f-1 visa interview.
My brother attempted the same way 2 years ago when he attended the Us f-1 visa interview and shown than his sponsor is from the Usa and his visa got rejected.
Hi,
Thank you for your comment, we regret to inform you that we are unable to provide personalized guidance in this matter.
For comprehensive information on visa options and application procedures, we recommend visiting the InternationalStudent.com website. There, you will find valuable resources and guidance to help you navigate the visa process. https://www.internationalstudent.com/immigration
Kindly advice on the minimum required number of days one can hold liquid cash in his/her savings account as a proof of financial capacity. UK is at least 28days for USA please how many days?
Hi,
Thank you for your comment, we regret to inform you that we are unable to provide personalized guidance in this matter.
For comprehensive information on visa options and application procedures, we recommend visiting the InternationalStudent.com website. There, you will find valuable resources and guidance to help you navigate the visa process. https://www.internationalstudent.com/immigration
Is money in a portfolio of stable stocks and shares considered acceptable as financial support for the F1 student visa?
Hi,
Thank you for your comment, we regret to inform you that we are unable to provide personalized guidance in this matter.
For comprehensive information on visa options and application procedures, we recommend visiting the InternationalStudent.com website. There, you will find valuable resources and guidance to help you navigate the visa process. https://www.internationalstudent.com/immigration
Are “investment funds” or stocks valid proof of funds for student visa purposes?
Hi,
Thank you for your comment, we regret to inform you that we are unable to provide personalized guidance in this matter.
For comprehensive information on visa options and application procedures, we recommend visiting the InternationalStudent.com website. There, you will find valuable resources and guidance to help you navigate the visa process. https://www.internationalstudent.com/immigration
Am just calling upon,,for a person who can give me a shoulder and help me finance my education career.
Hello,
We understand that financing your education can be challenging. While we cannot provide direct financial assistance, we can offer guidance and resources to help you in your search for scholarships, grants, and other financial aid options.
To start, we recommend visiting our website: https://www.iefa.org/. There, you can find valuable information on scholarships and other financial aid opportunities that may be available to you.
If you have any questions or need further guidance, feel free to reach out to us through our website or social media channels. We’re here to support you in your education journey.
Best of luck in your pursuit of education!
-The IEFA Team
Help me please all the process I am from Ethiopia tigray regional that is not enough connection agonecidal war happen in thise regional
To get
Visa
Financial aid
Aire ticket
All the process help me please call me I can not call considering all things help me
Hello,
Thank you for reaching out to us. We understand that you are in need of assistance with the visa, financial aid, and air ticket for your studies.
For the visa process, we recommend contacting the embassy or consulate of the country you wish to study in. They can guide you through the application process and provide necessary information.
To explore financial aid options, including scholarships, grants, and loans, we suggest visiting our website: https://www.iefa.org/. There, you’ll find resources to help fund your education.
Regarding air tickets, you can reach out to travel agencies or use online platforms to find the best deals for your journey.
If you have any further questions or need assistance with the application process, please feel free to contact us through our website or social media channels. We’re here to help you throughout this journey.
Wishing you all the best in your pursuit of education!
-The IEFA Team
please is it advisable to get a student loan for masters in US and can that affect me in my f1 interview?
Hi!
It’s common for students to get a loan for a US master’s program. However, its impact on your F1 visa interview depends on your overall financial situation and repayment plan. Be prepared to show how you will cover expenses.
For visa advice, consult the US embassy or an immigration attorney.