Damn, something is terribly wrong with that school's policy overhere.
Wharton had issued me so called Award Notification Letter (ANL), which states all the sources of funds for my studies - loan (without co-signer), grant and my savings (some small ammount). Based on that ANL, UPenn issued the I-20 document in which are stated:
- Personal funds (this is stated as a sum of loan and savings)
- Other funds (grant in ammount xyz)
For visa process, I was required to show both ANL and I-20 to the officer, which I did and got the visa without any problem. Later in September I should go to the bank with my I-20 and I-94 (immigration document issued at arrival to US) in order to get the loan. Wharton's policy regarding this is not convenient for some students and some visa officers because loan is not even mentioned anywhere in the I-20, but one has to present ANL. However, they had no problem with that and virtually everyone has granted visa in the past.
Fellow of mine, admitted to MIT had slightly easier experience. MIT tends to put the loan ammount in I-20 directly which is much more convenient for US consular officers. Their I-20 has more items:
- Personal funds (only savings without loan)
- Alternative loan in ammount xyz
- Other funds (grant)
I was little worried when I saw his I-20, but I experienced no problem at all with my visa process. I know this doesn't help, but at least could give you some insight in other school procedure. I hope the school is going to find some solution because there is probably large number of international applicants with same issue.
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