NextStudent Adivsors

How Does An International Student Show Proof Of Financial Ability to Pay for College? 

How To Prepare Documentation Showing Your Ability To Pay 

To complete the admission’s process, an international student will be required to submit proof that they have the ability to pay, at the very least, the first year’s college tuition and general living expenses. Financial statements for this process should be dated and less than six months old. Acceptable forms of documentation include: 

• Bank Statements from a checking or savings account in the international student’s name, or, if in another name, with the addition of a letter, signed by the account holder, indicating the relationship of the account holder to the student, and the acceptance of financial responsibility for that student. Stock holdings and certificates of deposit fall within this category. 
• Official Letter from the Bank on bank letterhead, detailing when the account was opened, average balance maintained, and current balance. 
• Letter of Scholarship of Sponsorship Verification, stating amount, source, and applicable dates of the college scholarship grant. 

Provide Original Copies of Documentation With English Translations of Documentation 

The original documents, as well as English translations of all documents, should be provided to the university in a single package. Currency amounts should be provided in terms of the country of origin, as well as in U.S. dollar amounts. The student is responsible for providing accurate translations of all documents submitted to the college or university.

How Much Money Is Required For Attendance?

The cost of attendance varies from school to school, and your documentation will have to verify that you have the funds to cover college tuition and expenses at the school you plan to attend. Cost of attendance includes tuition, books, academic and related social organization fees, as well as room and board. Transportation costs, parking fees, and expenses incurred during school breaks, should be carefully considered when making a final decision. These figures will be available from your college admission’s office.

As An International Student, Can I Qualify For Need-Based Aid? 

Government subsidized, need-based aid is not available for international students, but many universities may provide private scholarships and other financial assistance programs for special applicants, such as international students. Check the requirements and options for international students at each university where you are considering attendance.