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Proof of Funding

Required Funding Documents

Before issuing an I-20 or DS-2019, the University is required by law to verify that a student has the funds to cover the cost of his or her academic program.  Homeland Security mandates that students should be able to demonstrate financial support for an academic school year that includes tuition, housing, health insurance, food, and others.  We do this by asking for documents to show that the funds are currently available for the full cost of the student’s first year of study and certification that funds will be provided for subsequent years.

Every university does an annual calculation of the amount needed for all of these needs based on the cost of living in this area.  Even if you will not live on campus, or you will have more affordable accommodations, you still need to show the estimated amount to cover living expenses around campus.

Students must present the following documents in order to demonstrate financial ability to cover their studies in the U.S.:
  • Declaration of Finances AY 22/23 form that certifies who will sponsor the student's education. If the student is funding his/her own education then will be signed by the student
  • Proof of Finances to cover the estimated costs of funding as outlined in the table.  See below for a list of acceptable funding documents and document requirements.

 

Document Requirements

Each document must be presented in English and on the letterhead of the agency issuing it, clearly showing:
  • The name of the account holder
  • The amount in the account
  • The currency
  • The name of the official and his or her signature and/or a stamp/seal
  • The date on which the document was issued (must be within 1 year from the start of your starting semester)
 

Sources of Funding

See the lists below for acceptable sources of funding to submit.
 
We accept: We do not accept:
  • Bank statements or letters
  • Money market statements
  • Scholarship award letters
  • Financial Guarantee from a government or sponsoring agency (must state student's name, date of validity, dates effective, program of study)
  • Stock portfolio (rate of 80% of the value stated on the certificate)
  • Pre-approved loan certifications (must specify the amount of the loan and any limitations and must specify the name of the student)
  • Solvency certificates
  • Retirement accounts (rate of 30% of the value stated on the statement)
  • Provident funds (rate of 30% of the value stated on the statement)
  • Gold (value on the certificate)
  • Corporate sponsorship letter (must be signed by CEO/CFO, state the student’s name and amount of award)
  • Real property (for example, real estate)
  • Salary statements
  • Corporate bank statements
  • Lines of credit
  • Credit cards
  • Statements from accountants
*We reserve the right to request additional documentation after we have reviewed what you submitted.  





 
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