Question regarding Proof of funds for Visa

Question

Hi Everyone,

This is not exactly a question regarding financing the degree but can anyone please tell me what amount we need to show as proof for the visa?
Is it 1.5 times the cost of attendance? And in what form should we have these funds?

P.S. - I am from India and going to attend a business school in the US.

Thanks in advance!

cnsltexord · Answer

The university will give you the cost of attendance form which is basically your application for i-20. In that form, the amount you need to show will be written.

Diya52 · Answer

okay thank you. So it need not be slightly higher than the amount mentioned in the I-20 form? Also do you have any idea if the amount needs to be shown as liquid funds?

cnsltexord · Answer

No, it need not be higher. But, it all depends on the visa officer. It may be better if you have some amount extra set aside for travel and initial set-up. They may check that.

It's obvious that the funds have to be liquid.

GyanDhan_Finance · Answer

Hi there,

When applying for a study visa, one crucial aspect that often comes into play during the interview process is providing financial proof of funds.  Financial proof of funds  is a requirement to ensure that visa applicants possess sufficient financial resources to support themselves during their stay in the destination country.

To obtain an  F1 student visa , you must provide 6 - 9 months old bank statements for a US visa convincing financial proof of funds to support your education and living expenses.

It is crucial to provide an amount equal to or exceeding the I-20 requirement when presenting your financial documents. This amount should cover the tuition fees and living expenses for the first year of your university program. Remember that proof of financial support is a significant factor in obtaining your F-1 visa. For example, the amount mentioned in your I-20 is USD 25,000 for the first year. Then, you need to show an amount close to USD 38,000. Thus the sum comes to around 1.5 times as mentioned by you.

You can simply show these funds in your bank account with the help of the bank statement that you have fetched recently. There is no additional form that you need to fill out and present. Apart from that in case you need help in arranging the funds for your abroad education in the USA, you can  check your eligibility  with GyanDhan and we can help you free of cost to get an education loan with the best lender as per your need and requirement.

Question regarding Proof of funds for Visa

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