Student Visa : Can I borrow money from relatives?
November 27, 2007 by Raghuram
I had an interesting conversation with one of the frequent readers of this blog, about Visa bank balance and source of money. I want the readers to answer the question. I have partially answered the question from the reader and I’m expecting the readers to answer he last question.
Reader:
I’m admitted in to the University of Connecticut. It’s fees is $23,534/yr(approx. 9.5L INR) + living expense. I have a bank loan of 15L and liquid cash of 7L in my SB. plus assets and investments like PF, LIC, shares, property etc covering upto 16L. Wat are my chances of getting F1 visa? Can u tell me the possibility?
Answer:
You will need to show more liquid cash because you don’t have liquid even for the first year. 8L per year is good Annual Income for parents, but try to get more money into Savings or in FD.
Reader:
So will it be fine if I borrow money from my uncle and have it in account. Will that be a problem in visa?
Answer:
You can do that, but if they happen to ask the source of money be ready to say the answer.
Reader:
Well, can i answer that I have borrowed it from my uncle for my study expense?
I request other readers to help me in answering the question. In that way, we can see what other ideas students have in mind and it will definitely help others readers too.
- Bank Balance for F1 Visa ( Updated )
- Bank Balance for students with Scholarship - Reader’s Question
- Bank Statement for F1 Student Visa
- How Much Bank Balance for F-1 Student Visa
- 3 Years of Bank Statement for I 20?
- Student Loan: How to use the money and save more?
- Bank Statement Verification by Universities
i had cancelled my visa for two times can i get my money back
@ vijay
Nope, I don’t think so. I thin when you pay the money, it should have said, its non-refundable.
HEY !!! THIS BLOG OF UR’S IS AMAZING !!!!!
well i am looking forward to apply for 2009 fall….i have gone thru most of the required stuuff i ought to know for application processing.. well would be grateful to you if you can just list out in a sequencial manner precisely from where to start (numbered) followed by the next move and so. onn ..
i ‘m eagerly waiting for the reply asap coz i think it’s only few months away to work on it completely… not to fall short of time… thank you…
I have my sister working in states and my brother in law is also in states but studying.Can i say my sister is sponsoring me?
@ Ashu: Anyone ( relatives, parents,..) can be your sponsor, provided you get Affidavit from them.
@ Elizabeth: I have been thinking of doing hat for sometime now. I already have them in order, but its not updated. I will try to get it done by this month end. I’m trying to write about F1 Visa and Travel related articles now.