Happy Schools Blog » Bank Statement

Q&A – Round 4

HSB — Tue, 22 Sep 2009 02:34:20 +0000

This is Part of of Q&A Section. You can read answers to more questions at

Q1: Patel

I have completed my B.Sc. in Biotechnology from Sardar Patel University at India in April-2009. Right now i am in PG Diploma Biotechnology Technologist-Industrial Microbiology (2years) at Centennial College in canada. I am planing for M.Sc. in biotechnology for that i need GRE or not if yes which type general or subject?

MSc degree is offered only in UK, Canada, India,… In America Master of Science M.S. is offered. Yes, you will need to take GRE Exam to apply for Universities in US, check with Colleges in Canada, if they require GRE Exam.

Q2: Zubin

I am applying for MS in Computer Science at universities in US. I dont have any property on my name, I am showing my maternal uncle as my sponsorer, Can you please help me with the list of documents required to show financial support

Yes, you can have your uncle as your sponsor. You will need to get bank statement from your uncle while applying for Universities and financial affidavit form. Usually the form will be provided by the University. If not, include in the bank statement that your uncle is sponsoring you.

Q3: Trahman

Dear HSB,

I do have a question regarding contacting professors. Should I contact a professor before applying for admission in Ph.D. program or should I do it afterwards? Some suggest to contact professors first. If they give a positive reply then the chances for admission and funding increase. Some people won’t even go through your email. So I need some attractive subjects for emails while contacting professors . Please suggest some email subjects.

Interesting question. Many students applying for PhD usually follow how a Masters students will apply for admission to US. But, they don’t understand PhD is much different from applying for Masters Degree. PhD admission process is much distinct and depends on your academic profile (Direct PhD after Bachelors degree or PhD after masters degree). You can learn all those process from My Happy Schools Blog – Premium Version of HSB.

Post from: Happy Schools Blog

Q&A – Round 4

Bank Statement from More One Sponsor For I-20?

HSB — Thu, 12 Mar 2009 12:53:46 +0000

Couple of students have asked the same question in last week regarding multiple sponsors to get I-20.

Sumit Asks

Hello Sir, it’s a great work you are doing. I have one Query, I have applied for MS-Electrical Fall 2009. I got an admit from Upenn with no aid. There I20 amount is $54,000.

I have already sent them my financial letter worth $46,000( 2 Sponsors, 1 is my mother showing $16000 and other is my uncle showing $30,000)

Now as I need to show more, I have my brother’s account in which there is $10,000. So, can I show 3 sponsors?

Also, as we had to pay some installments, some of cash from my mother’s account was withdrawn, but in April, we would be able to return it back to the account. So, would it cause any problem.

Also, in April I would be able to deposit large amount of money in my parents account, So would it be advisable if we deposit money in April?, as I am planning to take my Visa interview in June. How much months before we can show big transaction, on which visa interview wouldn’t question?

One more thing, how many sponsors we can have? and If i can show my brother, mother and uncle for sponsorship? Would that be advisable.

More than one Sponsor for US Education?

You have already sent financial statement from your mother and uncle. So, sending one more is same as sending 2 right? Usually universities consider that as family sponsoring your education. If you have sent just one from your mother you will get I-20 saying Mother as sponsor, but in this case it will be Family sponsor or relatives sponsor. But, that can vary too. More information can be read at Can I borrow Money from Relatives for US Student Visa?

Generally for Universities they need bank statement to make sure you have enough money to fund the education in US. It doesn’t matter who has that money. If you can get that Financial affidavit from one or multiple person, it should be fine.

Universities Verify the Bank Balance?

I don’t think universities verify bank balance after submitting them. So, you should be fine. There are many article written in HSB about bank statement and sponsors. Make sure you read all the articles about under Bank Statement for I-20 Category. There are few sample F1 Student Visa documents that you can use for reference.

Large Deposit Just Before Student Visa?

You can look at this situation in 2 ways. Its already March, so there is nothing you can do now to show that you have deposited much earlier. But, for Visa you got to have the money in the bank. So, you are left with no choice to deposit the money now or in April.

If Visa Officer asks for the source of money and verifies the bank statement, you must have valid answer to say the source of the money – Where did you get large amount in one day and so on. You can read the separate article that explain in more details about large bank deposit before US visa interview.

Post from: Happy Schools Blog

Bank Statement from More One Sponsor For I-20?

Bank Balance of $37,100 Without Student Loan?

HSB — Tue, 21 Oct 2008 13:31:01 +0000

Universities require bank statement to send I-20. Some Universities accept bank statement when sent along other Graduate School Admission documents. Some schools like North Carolina State University, students are required to send bank statement only after they receive college acceptance letter.

Here’s question asked by Gaurav in the comment section of Bank Statement for Student Visa

Hi
My university has asked me to send the financial guarantee documents to process my i20 for the spring 09 session..but they’ve asked me to show an amount of $37,100..thats for 9 months ,everything included.I plan to take a loan,but the bank wont give me one until i show them the acceptance letter,which the univ says they have dispatched and should reach me soon.Now what expenses do i need to mention,i mean just what the univ has asked me to or should i take care of 2nd year expenses as well? i guess 2nd year expenses are not required for an i20 but VO might wanna look at the statements in the interview.
pls help.

When to Send Bank Statement

Its always better to send bank statement along with other college application and admission documents. Provided, if university doesn’t have any restrictions on when to send bank statement. Bank statements are valid upto six months from the date it was obtained.

If University asks bank statement only after student gets accepted into college, then you have no other choice.

Bank Balance for I-20

Program study length in the I-20 varies from 9 months to 12 months. But, usually colleges will ask to show funds for 9 months.

9 Months – Usually 2 semesters. Doesn’t include Summer Semester
12 Months – Spring, Summer and Fall Semesters

$37,1000 for 9 months is very expensive program. If you don’t get aid, then you will have to pay the entire expense and probably end up with $60,000 loan at end of your masters program. So, think twice before applying to expensive schools.

Using student loan to get I-20

Bank will provide student loan only after you get I-20, but to get I-20 colleges require bank statement. I certainly know its hard to get bank statement for huge amount, but you have no other choice. I have written a detailed article about bank statement for I-20 and impact of fake bank statement.

Having said the impact of fake bank statement, most of the students try to get bank statement by borrowing money from relatives while applying to admission. But, before student visa interview, they accumulate money which they had saved over years into single account.

Post from: Happy Schools Blog

Bank Balance of $37,100 Without Student Loan?

Bank Statement For Graduate School Admissions in U.S.

HSB — Fri, 12 Sep 2008 00:27:47 +0000

Last couple of days, there been lots of comments requesting to select universities, H1B Visa status and admission related questions. Since some comments require lengthy response. I’m posting the answer as an article in response to the comment from Indu for the Bank Statement for F-1 Student Visa,

I am applying for fall 2009, for Graduate program (PhD) in Biological Sciences.
I would like to know about the Bank Statements as i need to show loans as my source of Finance.
As Banks say they cant give a statement till the University confirms the admission,how can i send my Application to the University without the Bank Statements,as it is one of the requirement of the Application Kit that needs to be sent.
Please advise me for both UK and US Universities.

Please also tell me what other Financial statement can be presented.
1.Does property papers can be shown.
2.Can my Brother who is in US,show his savings as Financial statement for my studies

Thanks and Regards

Indu

Bank Balance Statement – Funding Source

Bank statement and Bank loan are different. Bank statement [sample bank statement] will show current bank balance, name of the account holder, when bank account was opened and other such details.

Bank is right, they don’t give bank loan before Universities issues I-20. But, universities in U.S. will ask International students to send financial affidavit form along with bank statement.

Usually, amount of bank balance universities expect will be displayed in admission requirements page or within the financial affidavit form. If that information is not displayed, the rough estimate is the total expenses for 1 year, that includes tuition fees and living expenses.

For instance, University of Texas at Dallas requires $25,000 for first year, then bank balance should be more than $25,000. Only then I-20 [sample I-20] will be issued to the student.

Property papers as proof for University admission

Nope, I don’t think so, you will need to show cash. From the sample bank statements in above links, you will see USD equivalent of Indian Rupees. Property can be used for immovable property during student visa interview.

Brother sponsoring education

Yes, brother and relatives can be sponsors.He has to fill financial affidavit form that university provides or send bank statement saying he’s your brother. When I-20 is issued, his name will be listed as the sponsor. When appearing for visa, your brother has to send one more bank statement and affidavit form. You can read more information about borrowing money from relatives for student visa.

Can I say my brother lives in U.S.?

I have seen few students who try not to disclose relatives who live in U.S. because it might lower the chances to get visa. If you are not disclosing the information, you are lying in the visa application, it doesn’t take long for U.S. consulate to find out that you haven’t disclosed the right information. For siblings, same last name, address will same on the passport.

Do, you want to take that risk of lying in Visa application. I wouldn’t and I didn’t. When my brother applied for student F1 visa, we didn’t even think about hiding any facts. If they find it, then that person cannot enter U.S. for lifetime.

How to get bank statement

Usually, students when applying for Graduate School admission in U.S. Universities they will collect money from relatives, friends and deposit in bank account for 1 or 2 days, then get bank statement from the manager, and re-distribute the money back.

Hope the suggestions and answers will help you with your questions. Good luck, let me know if you have any further questions.

Post from: Happy Schools Blog

Bank Statement For Graduate School Admissions in U.S.

When To Send Bank Statement to U.S. Universities

HSB — Wed, 27 Aug 2008 03:31:05 +0000

Sumalya visits Happy Schools Blog very frequently and comments on articles actively expressing his ideas. His question was regarding Bank statement for college admission.

Will i have to send the bank statements along with the application packet or should I wait for the universities to send me the acceptance letter. As i do not have that kind of money I need to take student loan. The bank managers here are telling that they won’t issue a student loan unless i show them a confirmation letter from the university regarding my admission. So what to do in this case? Please advice…

How much bank balance?

To give you an example, International Students applying for will need to show bank amount as listed. Equivalent amount has to be shown as proof while sending bank statement.

Wayne State University
Tuition Fees : 16,445
Living Expenses : $13,085
Total : $29, 530

Missouri @ St.Louis
Tuition Fees : $14,791
Living Expenses : $9,959
Total : $24,750

UCLA
Tuition Fees : $28,906
Living Expenses : $18,500
Total : $47,406

Total education expenses listed in above example is for 1 year. But, to get I-20 its enough to show the total amount listed for 1 year in financial statement.

When to send Financial Statement

Usually all the universities and graduate school requires students to send the bank statement (or financial document) along with Financial Affidavit with the graduate school application package.

But, that’s not the case with some universities. For example North Carolina State University, students don’t need to send bank statement with application package. NCSU will will send graduate school acceptance letter in mail. Then student have to mail (or express mail ) bank statement, then NC State University will send I-20 in mail to you.

Student Loan for Bank Statement

What the bank manager said was right. They will give student loan only if you have I-20 and graduate school admission letter. They will not give during college application process. Now you are left with tough choice to make. You are not the only person to face this situation. Every student applying for U.S. Universities admissions will have to send bank statement with college application.

What option do you have?

If your money is in form of fixed property or maybe in movable property, it will be hard to get cash out of it, I have see friends who get money from relatives and deposit in one bank account and get bank statement. Then give the money back to them. But, when applying for F-1 student visa, you will need to have cash in savings account for at least 1 year of total expenses and you can use student loan for second year.

I have written in detail about bank statement and lots of articles about F-1 Visa and bank balance for f1 visa. I would suggest to read following articles, so you will get an idea on what to expect in terms of money involved to study in U.S.

How much Bank Balance for Student Visa – Part 1
Bank Balance for Student Visa - Part 2
Can I borrow money from relatives for f1 student visa
Bank Balance for student visa with Scholarship
F1 Visa canceled due to fake bank statement
13 – Questions about Bank Statement

But, I can say, it’s certainly worth every penny spent studying in U.S. Universities. This about how much you can earn. Average Masters degree salary you will earn after graduaing with masters degree and Google salary (pays about $95,000 per year)

Post from: Happy Schools Blog

When To Send Bank Statement to U.S. Universities

F1 Visa Cancelled due to Fake Bank Statement

HSB — Tue, 20 Nov 2007 17:45:01 +0000

I came across this experience from one of the forum

respected sir,

my name is sandeep. sir i have applied for a F1 visa. and i got the visa. but after i got the visa with stamping i got a call from embassy saying comeback to embassy once again with the visa and documents.
i went to the embassy and i gave my visa, my certificates, my fixed deposits, my parents pay slips and bank statement.
they did verification for 4 hours and told me that all my documents were original except the bank statement.
the bank statement was given to me by a consultant. he took large amount of money saying that he would deposit in bank but he cheated me by giving a fake bank statement.
due to this reason my visa got canceled. they gave me one form in which Section 212(a)(6)(c)(i) was ticked. it said that due to producing fake bank statement for F1 visa. the waiver is permanent evethough a waiver may be given in future under certain circumstances.its written to refer form DSL-851a for further details.

sir this has happened for me. sir i want to know whether i can apply again for H1 or B1 or L1 visa other than F1 in future.

thanks..

Response from one of the forum member

It sounds like you were caught trying to enter the country and it was concluded that you were attempting to gain entry on the basis of fraud, resulting in your being permanently excluded from the United States. (Their skepticism probably comes from thoughts like this: How much money was supposed to be in the bank account? Why didn’t you know the balance of your own bank account, or get the statement from your own bank rather than through the forger?) What type of visa were you seeking?

If you indeed wish to get a waiver, I would suggest working with an immigration lawyer.

Reply from Sandeep:

thank you for the reply. i was seeking for F1 visa i.e student visa for studyin MS in USA.
sir i have done nothing wrong from my side. i have done the same documentation which every student who wants to study in USA does.
sir many students nearly 80 students got visas from the documentation of the same consultancy which i have opted.
sir where can i get an immigration lawyer . please do tell me some details about the imigration lawyer and the procedure.
sir i dont want to go for F1. i want to know whether i can go to USA through H1B visa.
Reply from forum member:

It may be that 80 other people committed the same fraud and that you were the only one caught, but that doesn’t change the fact that it was fraud and you were caught.

Source : www.expertlaw.com

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Post from: Happy Schools Blog

F1 Visa Cancelled due to Fake Bank Statement

Bank Statement Verification by Universities

HSB — Thu, 15 Nov 2007 05:08:22 +0000

Do Universities really verify and validate the balance before issuing I-20 for graduate school admission? Its really a trick question to answer and I will try my best to give the exact answer. As far I know, universities don’t verify the bank balance statement that is sent along with the application for graduate school admission. Bank Statement is valid for 6 months from the date it was issued.

Some universities require very large tuition graduate tuition fee and when converted to local currency, it a very big amount to show as proof. From, my experience, not all have that amount of money available immediately, they might have in different places and in different forms, say jewelery, land, buildings. So, during graduate school application process, they send fake bank statements.

Fake Bank Statement

Fake bank statement can be seen in 2 ways, borrowing money from friends and relatives and holding in account for few days to just get the bank statement and paying few percentage to some consultancy, who will deposit money into your account and after you get the statement, they will take the money back. Its a good business for people are making so much money from that.

Next worst way I can think is getting completely fake document ( bank letter head, seal, signature, account number ) is all fabricated. I have heard people do that, but haven’t meet anyone in person who has done that.

Taking in terms of good ethics, if you really cannot afford to show bank statement for your education expenses and planning to study in U.S. implies the person is merely trying to enter in to U.S. I wouldn’t say its worth the effort. With fake bank documents, one might get admission, but chances of getting student visa stamping is less.

Its very easy for the consulate officers to find out if the documents are fake. If the statement and money is original, then you will be able to answer questions related to transaction in pass book, source of each fund, original parents income tax returns.

F-1 Student Visa Canceled

Due to fake bank statement, visa was issued to student and then canceled. Above all consulates know who are people doing this kind of fake documents. Bank statement from certain bank is considered fake. So, if they see a bank statement during visa interview, chances that you will enter U.S. in your life time in NIL. I mean Zero.

Post from: Happy Schools Blog

Bank Statement Verification by Universities

Bank Statement for F1 Student Visa

HSB — Sun, 11 Nov 2007 05:53:24 +0000

To get Student Visa (F-1) Bank Statement is one of the mandatory documents. Many students get visa rejected providing fake financial documents. And its still not clear for many students, how much bank balance to be shown and how does student loan help to get in getting visa.

The format for bank statement for visa is same as the the bank statement used while submitting graduate school application(common mistakes made while submitting graduate school application online). But the question is, how much bank balance to show and how important is to have transactions. If you are wondering to find the answer.

There is no big magic in showing bank or rocket science behind the bank statement, but it does certainly makes affects the decision of a student, who is planning to study in U.S. Some universities, are very expensive and its nearly impossible for all the parents to show financial document to support the cost of education.

Questions about Bank Statement

How much bank balance to show.

I-20 Sample
What source of funds to show ( savings account, student loan, liquid assets, immovable assets, ..)
How to draw fund flow diagram
How to show proof for second year college expense
Does bank statement for visa differ from bank statement used for graduate school application
How long/how many transactions to show for the money deposited in the account
Can I open a new account 1 month before the Visa date and show proof form that account?
I don’t have enough money with me to show in bank balance, can I get Visa?
Some suggest to go through consultancy who will deposit money in our account for some commission, can I get bank statement in that way?
I have fake bank statement, can consulates find the fake document?
Do you have sample bank statement, I-20, fund flow diagram?
What questions will be asked related to Bank Statement?
Do I need to take passbook with me for visa interview?

If you have any other questions, speak up in the comment section. I will pen down the answers with sample bank statement and fund flow diagram in coming week.

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Post from: Happy Schools Blog

Bank Statement for F1 Student Visa

Bank Statement – For Graduate School Application

HSB — Sun, 07 Oct 2007 21:40:00 +0000

Bank statement for graduate schools application is one of the mandatory documents. Without that, you cannot get admission in majority of the graduate schools.

Happy Schools had record breaking number of visitors few last days and hope the trend continues. Students are talking and creating the Buzz about Happy Schools. I’m happy to see the positive response and lots of emails with questions they want to be answered in here.

Today the topic of out interest is Bank Statements. Under this topic you can find information about

Why colleges and universities ask for Bank Statement?

U.S. Education is expensive. It considered expensive even for the domestic students. So, universities want to make sure students apply for admission have enough financial resources to cover the cost of the education.

How much bank balance to show while applying for graduate school?

For International students, universities ask for bank statement showing proof for atleast for 1st year of college expenses. That typically includes Tuition Fee, Living Expenses, Books, Health Insurance. Tuition fee might be for 9 month period or for 12 month period. If its 9 month period, universities will calculate tuition fee for 9 credits. For 12 month study tuition fee for college will be calculated for 24 credits ( 18 credits + 6 credits in Summer ).

Check out tuition fee estimator for 12 month study. You can find that information from International Students Admission link or some schools will ask for Financial Affidavit along with Bank Statement.

How long that balance should be in account for Graduate School admission?

As long as you need to get enough number of bank statement ( on original letter head with bank managers seal and signature). Some of them would have accounts in different bank and in different forms of money. In that case, you can move money from different banks to one bank to get bank statement.

What if I have part of money in form of Fixed Deposit/CD and part as cash?

It’s necessary that you need to have required bank balance in Cash in bank account. If 50% is in terms of Savings Account and 50% as CD or Fixed Deposits, you can get statement to say you have cash in 2 different forms and total is equal to 100% in one single statement.

What should be the contents of the bank statement

I will try to upload a sample pdf file.

Name of your sponsor

Relationship to Sponsor

Type of Account(s)

Current Balance ( in local currency Rupees, Euro, Yen,…)

Equivalent in U.S. Dollars

Conversion Rate used for calculation ( Say 1USD = INR 39 )

Does universities accept photocopies of the Bank Statement?

You need to get bank statement in original letter head from the Bank with Signature and Seal from the Bank Manager. Universities usually don’t accept photocopies of bank statement.

Do colleges accept attested copies of Bank Statement?

Even if its attested by the same bank manager. Why take the risk or sending photocopy and universities asking you to send a original copy at the very end before issuing I-20. Majority of the schools don’t accept the attested copies too.

When to send Bank Statement – Along with graduate school application packet or after getting the acceptance letter?

It’s based on graduate school policy, for instance NCSU will first issue Acceptance Letter and then ask the student to send Bank Statement. Unless otherwise mentioned specifically to send bank statement after issuing Acceptance, its always better to send the Bank Statement for graduate school admission along with other application documents to Graduate School.

Can we get admission to graduate school without sending Bank Statement?

Refer to previous answer. If you couldn’t send bank statement along with application package, send a note along with graduate school application, saying you will send bank statement in specific period of time. Some schools will consider your application to be incomplete unless they receive the bank statement.

How long is the Bank Statement valid?

Universities in U.S. consider Bank Statement to be valid for 6 months from the date when Bank Statement is issued. So, you would need to take 2 bank statements. One for admission and one for during visa interview. Even though if both admission and visa comes within 6 months, I would try to get a recent bank statement while appearing for visa interview.

At what stage of graduate school application process, bank statement is used?

Bank Statement is used to check if students have enough financial resources to afford the cost of education in U.S. And International office need the financial proof to issue I-20.

Does the location of the bank matters ( City or Village)?

Nope, not at all. Unless its written in English, location of the bank doesn’t matter.

Post from: Happy Schools Blog

Bank Statement – For Graduate School Application