Funding N Document formats..

                                        

Life cycle of your visa preparation: 

sample of AFFIDAVIT OF Support..

Sample of financial Documents

The most common ways that you can sponsor your education is :

--Education Loan
--Funds from family (parents/grand parents/elder brother/sister etc)
--Scholarships, assistantships that you have already received from the University.

Educational Loan :
If you are planning on availing an education loan, please go and visit your local bank and ask
them about the educational loan procedures. Visit 3 to 4 different banks to find out their
requirements. An educational loan can be obtained from a branch that is closet to your area of
residence. The maximum loan offered is Rs 15 Lakhs (SBI sometimes offers loans up to Rs 20
Lakhs)

Funds from Parents/Family :
To demonstrate how much funds are available with your family to support you, please see the
document ‘Sample Financial Statement’ attached in this post, Please prepare a statement similar to this. You need NOT get this certified from your Chartered Accountant (CA).

You will have to carry proof for all items mentioned in the statement.

Proof of funds include:

--Your Bank Passbooks or Monthly/quarterly Bank Account transaction statements (in case
your bank does not issue a passbook). The statements/passbooks should show
transactions for the past 3 to 4 months (preferably 6 months)

--A statement of your Demat account showing the shares/mutual funds you own and their
current market value.
--All original fixed deposits that you have.
--Originals of NSC/NSS certificates, PPF passbooks etc
--Tax returns for the past three years (at least two years) of your sponsor.
--Three recent salary slips of your sponsor (in case your sponsor is employed)


Your sponsors will have to prepare an affidavit on a Rs 20 stamp paper. See the sample document ‘Financial Support Document - Parent letter to Visa Officer’ attached in this post.
Scholarships/Assistantships from the university

If the university has awarded you a scholarship/assistantship and it is already mentioned on your
I-20 then its fine. In case the decision to award you funding was made after issuing an I-20, you
will have to carry the official letter from the university indicating their decision. If the department
has informed their decision over email/phone please ask them to send you an official letter.

IMP: The amount of funds available to you for your education in the form of Loan, Family
support and Scholarships/Assistantships should be more than the estimated tuition/fees
plus living expense for the entire duration of your education (2 years in most cases). Of
these funds at least equal to your first semester of expenses should be available
immediately.
That is;

Loan,

+ Funds from University
+ Money in savings/current account of sponsor
Should be MORE than at least HALF of 1 year of estimated expenses shown on your I-20

AND

Loan

+ Funds from University
+ Money in savings/current account of sponsor
+ FDs
+ Demat (shares) valuation
+ Any other maturing investments (NSC/NSS etc)
Should be definitely MORE than 2 years of estimated expenses – double the amount
shown on your I-20