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Certificate concerning financial state? What is this for?

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Certificate concerning financial state? What is this for? [#permalink] New post 06 Oct 2010, 18:20
An application requests something I believe is rather strange, "Certificate concerning financial state and payment of expenses while studying at XYZ", It then asks for my name, nationality, and adds, "(Note) A financial certificate (e.g. bank certificate or income statement) must be attached."

Why does the application ask for this? Of what use is it to admissions? If I have little money in the bank (which I do) and no income statement (currently unemployed) then will this harm my application somehow? I intend to pay through loans....which I can only apply for/receive after I am accepted somewhere---I'm not being financed or sponsored by any 3rd party, and am not self-sponsoring.

So, is this type of request normal of all MBA applications, domestic schools as well as international schools? This process is new to me...

FYI: The application in question is for a Japanese global MBA program and I am a US citizen, if that matters.
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Re: Certificate concerning financial state? What is this for? [#permalink] New post 07 Oct 2010, 09:35
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in my experience, for U.S. schools, it seems that the financial information is for a couple of things: 1) for international applicants, many of whom are ineligible for a wide variety of loans, it's to prove they can afford to pay. 2) for U.S. applicants, it can figure into financial aid eligibility, which could end up qualifying (or disqualifying) and applicant for certain types of need-based financial aid.
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Re: Certificate concerning financial state? What is this for?   [#permalink] 07 Oct 2010, 09:35
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Certificate concerning financial state? What is this for?

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