United States is the dream place for acquiring quality education for many young individuals who are interested in studying overseas. A lot of colleges/universities with top-notch faculty offering various study programs, part time job opportunities and English language as the teaching medium are the main attractions for these students. However, most of the students are clueless regarding how to successfully get accepted in US colleges or universities. Some are unaware of the financial requirements and formalities for studying in the US. In simplest words, for studying in US, students must prove to the concerned authorities that they would be able to cover their tuition and living expenses, on their own, during study. With a shift in political scenario and rising cases of illegal immigration, the authorities are more than ever strict to make sure no one steps in the country for whatever reasons without financial backup.
Also read: USA student visa mistakes, you should avoid
Types of Student Visa
Two kinds of visa are granted to international students who want to pursue education in US, F-1 and M-1. The F-1 visa is granted to those who want to undertake a full term bachelors, masters or doctoral degree from a university certified by the Student and Exchange Visitor Program. With an F-1 visa, you can also sponsor your spouse and unmarried children and they can live with you while your study. The M-1 visa is granted for vocational courses or diplomas which generally take lesser time to complete.
Financial Requirements to Be Met
If you are on the F-1 type student visa, you must show that you’ll be able to cover one year’s living as well as tuition expenses efficiently, and since the F-1 visa is granted for longer duration studies, an indication of financial resources for covering expenses of coming years is also to be shown. As the M-1 visa is granted for vocational courses which typically stretch for 12 months (or shorter duration of time), your financial evidence needs to cover all the expenses, during the study duration.
Sources of Financial Resources
From bank statements to property documents there are various ways to give a hint of your financial evidence. For instance, you can present evidence of:
- Certain governments provide their nationals with study allowance to acquire education from international reputed universities. Many USA universities/colleges also fund education of international students mainly from underdeveloped regions. Such scholarships and financial assistance can be your resources to study in USA.
- Real-estate and property documents can also hint about your financial holdings. Authorities will check for the validation of the documents prior to the visa processing.
- Some parents sponsor their children’s higher education so in this case parent’s bank information and employment details could serve the purpose of financial resource.
For some students their US based relatives also concede to sponsor their education and stay during the course, so their financial assets/employment information will serve as the financial evidence for visa processing and issuance.
Official link: USA student visa bank statement