A lot of us dream to study abroad but when the question of financing arrives several students have to take a back step. Most of the time this happens due to incomplete financial knowledge. A lot of students also hear scary stories of showcasing more than INR 50 Lakhs in their bank accounts. Some are even unaware that funds can be shown from 2-3 sponsors together. A lot of confusion prevails in this area and several fall prey to it, thereby skipping their dream of studying in the US.
This blog will be your gateway to knowing everything about US visa sponsorships, along with other relevant information on F-1 visa sponsor documents, requirements, etc!
Table of Contents
What is Visa Sponsorship?
US visa sponsorships imply that the sponsor is responsible for taking care of a student’s educational as well as living expenses in the US. A legitimate and qualified sponsor with a strong financial background can definitely increase the chances of getting hold of a US F-1 student visa
How to Find a Sponsor for Yourself?
For students willing to study in the US, parents and relatives can very well be accommodated as sponsors. Applicants can also look for education loans to sponsor their study in the US. In some cases employers can also sponsor F-1 visa provided they are ready to employ applicants post their study abroad.
For applicants looking for work visa and green card, there are a few databases available like:
How Much Funds are Required for an F-1 US Student Visa?
Funds pertaining to US visa sponsorships involve one year tuition fees along with one year living costs. This cost is typically mentioned on your I-20. Even before I-20 you would have it on your college website.
Who can Sponsor My Education Abroad?
Several entities can pave your way to a student visa sponsorship USA. Let us see all possible options of potential American visa sponsorship:
- Parents: First resort is always your Father or Mother
- Relatives: Blood relatives are also allowed to be your sponsor. So the form needs to mention how they are linked to you. So grandparents, immediate uncle aunt from both maternal and paternal side can support you along with cousins also.
- Mix of Both: You may have Parents + Relatives making it 2-3 sponsors as well to show the entire one-year cost.
- Banks: Banks can sponsor F-1 visa, and provide you with an educational loan to start your journey abroad.
Note: It is always preferred to have your sponsors from India and not the USA.
Requirements for F-1 Visa Sponsor
Let us now move forward to know about the F-1 visa sponsor requirements. Given below are some of the most important and essential F-1 visa sponsor requirements that you must possess, while applying for an F-1 student visa in the US:
- Sponsor letter for F-1 visa
- Affidavit of sponsorship for F-1 visa
- Official bank statements
- Document stating relationship status between the applicant and the sponsor
- Other financial documents (loan letter, property papers, etc)
Financial Documents Required as Proof of Funds
US universities and embassies accept only liquid cash. You need to show these funds twice in the form of F-1 visa sponsor documents. There are various types of financial F-1 visa sponsor documents that you as an applicant can show the consulate. The most important ones have been listed below:
- Fixed deposits receipt
- Solvency letter
- Loan letter
Along with an affidavit of sponsorship for an F-1 visa, there are other financial documents required as proof of funds. Let us discuss each of these documents individually below:
- Fixed Deposits Receipt: These need to be attested by your bank, and can be in the form of a savings account statement, balance certificate by bank or an attested PF/PPF- passbook statement.
- Solvency Letter: A letter from the bank stating your sponsor is capable enough to raise funds of approx INR 25 - 30 Lakhs for your higher education. This is not an actual fund in your account but like a capability certificate a bank provides looking at your history and assets which you would mortgage to acquire a loan.
- Loan Letter: Sanction letter or a loan letter is typically received post-receiving I-20 by all national and public banks. Only private banks provide education loan letters before I-20 on the basis of students' admit letters. So in case if you have received the loan letter prior to I-20 you may use that also to show funds to the university.
Note: 90% of the time a solvency letter works but there have been certain cases where the university rejects this letter and in this situation we have no other way but to show liquid cash in the above formats.
One thing you should know as an applicant is that each application case is very subjective. Also, all the documents that you provide the consulate should be true, and possess no false claims, and information. Moreover, applying for a US student visa can be a tedious process, but ensuring truthful information, and trustworthy intent will definitely help you get hold of the visa! You can even connect with our Yocket Counsellors to know more about how to get sponsorship for education in USA.