How Much Bank Balance for F-1 Student Visa
By HSB
Hello guys, hope everyone for Spring 2008 Semester are busy preparing for visa interview, student loan, visa documents, CA statement. If you haven’t checked the previous posts in I-20 Sample with Fees and Living Expenses Break down and other list of questions from students regarding visa and student loan. In this article, you will know how much bank balance is enough with respect to the amount mentioned in I-20, During F1 student Visa interview, students are expected to have enough financial resources and proof of financial resource in order to get the visa. Bank Statement, Original Tax Returns, Auditors statement, Affidavit of support are some of the statements to name a few that can be used as the proof of available financial resources that would cover the total expense in U.S. ( Living, tuition fees, ..)
In the previous post I20 Sample and Fees Breakdown the total expense listed in field 7 was $19,600. So, I would show bank balance in this order
1st Year Expense
Total = $19,600
Savings Account = $20,000 or more. ( preferably $25,000 or more)
2nd Year Expense
You have lots of options to show the proof for 2nd year education expense. To name a few
1) Fixed Deposit
2) Student Loan
3) Combination of Fixed Deposit, Student Loan and Savings Account
Some students show just the Fixed Deposit and use Student Loan as backup amount. Some students might not have Fixed Deposit covering total 2nd year expenses. They will show the Student Loan as the source for 2nd year expenses.
Agian, for the first year, you can mix and match, but generally its better to show the first year expense in Savings Account or Savings + Fixed Deposit. If you are showing Fixed DEposit, make sure you get bank statement to say you have FD in this bank worth this amount and pays this much interest per year in Bank Manager Letter Head.
Visa officer will make sure your parents will be empty handed after they paid for your total education expense. So, they will verify how much they make per year. Original Tax return paper is need to show them as proof. You can show Agriculture income, income from Interest payments, promissory notes are other sources of income.
If they feel, you have fake documents, then things gets really interesting for them, and tough for you when they start to dig in more about the source of funds. When I was interview for Student Visa, the student before me argued for long time and Visa Officer was not convinced about this source of income. Then he said loud ” My parents combined income per year as per original income tax returns is 9 lakhs” he was issued Visa.
So, each case is unique and each students situation is different. If your case is different and have any questions, feel free to write a comment, so it will help other students too. If you enjoyed the post, pass it to your friends. In the next article, you will get to know the answer for one of the readers question
my doubt is will the university people really verify our bank statement …Generally students go for fake ones!!!!
Generally people wont have 22 lakhs in their bank accounts….
My seniors got their bank statements from a broker .He has given them the empty statements which are stamped and sealed ..They have printed the matter and posted them off….
If u further gimme info about this ..and do post an article reg this issue..
thnq kiran
Related posts:
- Bank Balance for F1 Visa ( Updated )
- Bank Balance of $37,100 Without Student Loan?
- Bank Statement for F1 Student Visa
- Bank Balance for students with Scholarship – Reader’s Question
- When To Apply for Student Education Loan?
My friend is taking up her masterals in the US. Because of the recession, banks have increased the interest on her credit cards and it’s becoming difficult for her to keep up. She’s thinking about filing for bankruptcy. Would this affect her F1 visa status?
hi,
i have one question.i am studying in australia .because of some reasons i dont want to study more in australia.i want to apply for f1
student visa from here.its possible or not.and if possible then what chances i can get the student visa.thank you.
I just faced US students interview twice. First was for the university with annual fee of around 35,000 USD, the second time was for 17000 USD.Both times they said I don’t have enough fund. But I had shown the bank statement of 43,000 USD, along with properties and yearly income of 32000 USD. I dont know what went wrong because the documents are true and very strong. I have the gre score of 1200 and toefl ibt of 110. I am from Nepal and nowadays I can see a lot of visa being rejected. What went wrong, plz suggest me so that I wouldnot repeat the same mistakes again.
Thanks
i dont why?even i went to visa interview they says u dont have sufficient fund..nowdays Embassy of US nepal issues 5 visa a day.
u better add a additional sponsorship…
goodluck
sir my dad,mom and brother has a combined savings and FD of 15 lac.i can take a loan for 18 lac on my fathers property.the problem is my father is working abroad outside India.he neither has a IT return filed in India nor can he give me a salary slip to prove his annual income.so how can i convince visa officer about my families annual income.my mom has a IT return filed but that too is very low of 1.5 lac only.my brother’s annual income is 1.5 lac but he dont have a IT return filed.we do have a agricultural land at our native place.kindly suggest me some idea what to do..if my I-20 (tuition+living) amount comes around 32,000$ per year.
Dear Sir,
I have scored 115/120 in TOEFL iBT and 1456/1600 in GRE.
But I took the test without being so informed about the hurdles to get myself in USA.
I actually lost my father in an early stage of my life, and have a very few bank balance of nearly 3 lac…
My past educational performance are quite satisfactory…
Now, to be granted with an educational loan I need to show the admission documents & papers given by the university I join…
But, to get the VISA I need to show adequate Bank-balance…!!!
Now, I find my dream to go to USA fading out…
Is there any way which can help me out?
Waiting for your Reply, Sir… Thank You…
With your score, you should have got admission with some form of scholarship. Try your best to show the enough bank balance. If in case that doesn’t work out, apply for Spring semester to schools where you can get some form of Aid.
really it’s good blog
hello,
I am applying for MS in computer science in USA. My father gets loan upto 17 lakhs rupees. Is this amount sufficent for my 2 years study program or I have to show some more amount of money as a balance?? Please suggest me the best answer.
Hi,
I had my visa interview and it got rejected. Everything was in order, starting from TOEFL score (110/120), SAT score (2100,2400) and my high school grades. The visa officer was quiet impressed with everything. Even the bank statements were totally fine which had around first 2 years of my computer engineering course. I was about to get accepted, but she asked the final question. She asked what is your father’s per month’s income. I showed the official letter from his company stating his per month salary. She then said that the salary is somewhat low and she is not totally satisfied with it. She also told me to apply again and bring another sponsor who has more per month income or any scholarship, after that there wont be any problem at all. What do you suggest me to do?
Hi please post the latest info and keep in touch with latest info on student f 1 visa requirements. Thanks
Dear sir,
I have got admission for ms in us university.
The fees comes to about 38000,dollars per year. including living exp. My parents intend to get a loan ofRs 18lakhs from a nationalised bank. They have a bank balance of Rs 8 lakhs in savings bank. my father also has an amt of Rs 12 lakhs in his GPF with Govt ofIndia. can this amt be shown as a financial statement,for visa purposes.Can you give me a guideline as to how this should be shown for higher studies.
thanking you
praveenkumar
You can find answers related to bank statements at http://www.happyschoolsblog.com/category/graduate-school-admission/bank-statement/
as i have done my B.pharm and i want to pursue M.S. in pharmaceutics or pharmacology . currently i am holding the score of gre : 840 and toefl score of 76 . tell me the universities that will provide me I-20 in M.S. in pharmaceutics.
Hi, I got admission for MS in MIS for Spring 2009, Amt mentioned in the I-20 (Tution+Personal Expenses) is approx $24k.
My father is my sponsor, but I’ve a slight problem. I have taken a education loan of 4L only (as I have fair chances of getting TA/RA) my father has a balance of 3L in SB and around 12L in PF(he has an approval to withdraw 8L for my studies) rest around 15-20L in Shares and LIC and other investments, Property worth 50L. But I’m not too sure if i money in shares and LI is taken as liquid..please let me know in this case wat documents i need to carry for the interview. I have made a summary sheet for all liquid and fixed assests..will that help? Plz advise..
thanks sir
can we represent property? for the 2nd year expenses along wid the loan?
@grewal: You will need atleast liquid cash equivalent to 1 year+ expenses and rest student loan or in other forms.
sir/ madam
my query is that i’ve just started of taking GRE and ve hav favourable property bt no fixed deposits… so how should i plan d financial requirement?
thnks
My parents have app18lakhs in FD AND LIC .How much more money should I show for doing B-TECH IN US IN COMPUTER ENGINEERING ?How much liquid cash ihave to show?
@Raju raja: TOEFL score of 60 is low. Check with schools where you plan to apply. they will have minimum requirements. If they say 70, then you can consider taking TOEFL again.
dear Sir/ madam,
in TOEFL iBT i got only 60 . however i am willing to do post graduation in Law. Do you think I could find out university on this ground. However i got 21 in writing and speaking 20.
I would be greatful if you will be able to advise me on this segment.
i, I have been reading about the posts regarding the funds required to get the education in US. I want to generally share one thing.
I have been selected for MS in New york University and fee is around $32000 yearly. I went to the bank to apply for loan and the Bank loan works like this:
Bank checks how much liquid assets your have and then calculate the total expenditure of the education like in my case $64000.
Now the bank is ready to give me complete loan or ($6400 – $liquid assets my sponsor have) as they put there money in the complete Project.
My question is if the Saving a.c are creating so much problems then can’t we take the complete education loan from the bank?
Can you please tell me what is the maximum amount of loan i should apply for.Suggest me the maximum.
Thanks
he is my real brother….what other documents will i require?? do i need to show his income proof too??? he has approx 12lacs in his account and my father has 5 lacs and he is a farmer …in this way can i show 17 lacs for 1st year and 15 lacs loan for 2nd year..??
he is my real brother….what other documents will i require?? do i need to show his income proof too??? he has approx 12lacs in his account and my father had 5 lacs…in this way can i show 17 lacs for 1st year and 15 lacs loan for 2nd year..??
@ Amarjit : you would need to get affidavit from him, saying he will be your sponsor. Which bank account really dosen’t matter. What does your I-20 say about your Sponsor?
hi,
my brother lives in italy….we have made an nri account….can we show money from his account…he will be sponsoring me…what are the chances..?
hi am a fall 08 applicant for MS in US..i am not planning to a consultancy… i would appreciate if you could help me with preparing for visa..my 1st yr tution fee is 24000$ and am plannning to get 15L loan permit letter and 5L as bank balance…pls tell me whether if it would be sufficient documents…and the bank balance wil be showed in my mom’s account..but she is home maker.. kindly tell me if it is advicable to show money on her account…
@ Anushka – Do you have any scholarship or fee waiver?
Hi,
Please tell me about the bank statement required for F1 visa for a PhD student.
hello sir, recently on nov 19th. visa was rejected for the reason of having low funds in my savings….my fees is actually 22600$ per annum…during my interview i was asked that how much i have in savings.. i answered 15lks.. however i had 20lks bank loan in processing.. but by the time i explained .. so started saying no no..no to issue visa.. saying the only reason of not having sufficient funds….this time im moving with 15lks in savings,and 10lks fd..and will get bank loan of 20lks sanctioned is that ok.. sir.. plz comment ur reply. on this issue.
@ hardik
For your First year you can show $18,000 or more in Savings.
For Second Year, aroound 18,000 to 20,000 in SAvings, or FD or Part of Bank Loan.
hi , i have got my I20 from southeastern louisiana university.. i have showed 41000 $ in bank statement for admission for bank statement for application .. which is mentioned in I20 also ..
my 1 year fees is 15000$ …
do i need to show 41000$
can u please guide me how much liquid i have to show in savings account and total…
sir i scored 1200 in GRE, i have some queries regarding bank statements & bank solvancy letters, pls clarify that for this two do i need to show liquid cash in account or can show assets. how much bank balance it is required to show