APPLICANT MUST HAVE SUFFICIENT FINANCIAL ABILITY
WHAT U.S VISA LAW STATES ABOUT HAVING FINANCIAL ABILITY:
CFR 214.2 (f) states that a student applicant must have...documentary evidence of financial support in the amount indicated on the Sevis Form I-20” issued by the university.
EXPLANATION OF THIS LAW:
As the regulation states, the candidate must have a personal (or a sponsor’s) bank statement showing “liquid” funds (readily available cash) in an amount which the university has already decided he needs for the first year’s tuition, fees and personal expenses.
However, please note that the visa officer may require additional information beyond just a copy of the bank statement. That is, the officer may also require some proof regarding the source of the money that is shown in the bank statement.
The purpose of this is so the visa officer can be assured that the money showing in the bank statement has not been borrowed by the student temporarily only for purpose of qualifying for acceptance by the school or to qualify for a visa. Evidence of the source of the funds may consist of monthly bank statements or employment history showing funds coming into student’s or sponsor’s bank account during the previous 6 to 12 months.
A visa officer may also require the applicant to show a “reasonable expectation” of funds to pay for the student’s second year at a U.S. university. If the student is relying on a sponsor to provide funding in the 2nd year, that sponsor should indicate in his/her statement that both the first year’s cost, as well as funds, as needed, in the 2nd year, will be covered. Note: Usually, some of the money required by the university may be borrowed from a certified bank in the student’s home country. But a loan from a private party usually is not be an acceptable source of funding.
If using a sponsor for funding, information about the nature of the relationship between student and sponsor should be explained. And, the relationship must be reasonable and believable (in order to prove that the promised amount is not just a loan). This usually means that an acceptable sponsor should be a close family member of the student.
TIPS AND SUGGESTIONS FOR THE VISA INTERVIEW
- Provide a sponsor or personal bank statement for year one as required by the school.
- Bring documented evidence of the source of the money in the bank. .
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