3 Years of Bank Statement for I 20?

Question from Reader Tuan for the article bank statement for student visa

Question

I was self-sponsor for my study in US. I shown the bank statement for all 3 years at my college and got i-20. So, will I have to show my bank statement during my study at college again ? I mean, if my i20 issued for 3 years, so, at the year after that will I have to show the bank statement again ?

Answer

Congrats on getting I20 from University, that will put a big smile on your face. Most of the student coming from India, will use funds from parents to get bank statement for I 20, but self sponsor is wonderful thing. You are in better position to manage your expenses when you will be in U.S.

I have seen so many of my friends, who had more than $40,000 loan ( student loan from India + Credit Card Debt). Biggest reason to get into student debt was due to lack of awareness of in personal finance. Student credit card is very bad thing, you should know how to use it. It’s not free money. Here time line of students spending habits.

Coming back to your question. You don’t need to show bank statement for I 20 every year. Once you get i 20 from college, then you are good till i 20 expiry date. If you haven’t completed your studies before the i 20 expiration date, then to get i 20 extension you will need to show bank statement, but till then no worries.

Image Credit : tanakawho

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