Financial Statement Required for F-1 Student Visa

Financial Statement

The United States government requires all F-1 visa applicants or F-1 visa students to provide financial statements before a Form I-20 is issued. Specifically, the financial statements refers to a Documentary Evidence of Financial Support (DEFS). In other words, you need to show your ability to pay for your education and the living expenses in the U.S.

F-1 Visa and F-2 Visa

An F-1 visa is issued to you, the student, for enrolling into our English Language Program. Whereas, an F-2 dependent visa is for your dependents if you have any. Specifically, the dependent may be only your spouse or children (not married and under 21).

Minimum Required Balance

Our estimated cost for your studies and the living expenses is $2000 per month. If you have dependents, you need to show your ability to pay for their living expenses as well. The estimated living expense is $1000 per dependent. For example, if you have a spouse and two children, your estimated living expense is additional $3000 per month.

Generally, in order to obtain an F-1 student visa, you should provide financial statements to cover at least 6 months of studies. In other words, a $12,000 for the student, and a $6000 for each dependent.

However, if you already have an F-1 student visa, you may present only the statement to cover 2 months. As a transfer student, you already have an F-1 visa. Therefore, you may attend only two terms (two months) and provide financial statement only for that period.

Acceptable Financial Statements

  • * a personal bank statement.
  • a letter guaranteeing financial support from the student’s employer;
  • a scholarship letter from the student’s government or other organizations.

*If the bank statement belongs to the student’s sponsor who is not a U.S. Citizen or a Permanent resident, the Financial Support Guarantee must be completed. If the bank statement belongs to the sponsor who is a U.S. Citizen or a Permanent Resident, a Form I-134, Affidavit of Support, must be completed.

Form I-20

A Form I-20 is an important document that you need to obtain an F-1 student visa and to validate your student F-1 visa. You need the form “throughout your international student life cycle.”