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How can you finance your tuition fee while studying in the U.S?
There are several ways of showing that you can cover your tuition and living expenses while in The United States, these guidelines include the following:
Personal savings
When applying for a US student visa, the best option is when you can fund your tuition and living expenses without having to rely on a sponsor. The amount of money available in your bank account should cover at least one (1) year of tuition and living expenses. However, it is good to show the tuition and living expenses for the entire duration of your studies. When you have the money for the entire duration of studies, this will better convince the visa officer that you can finance your educational expenses without relying on a sponsor. If you cannot show the funds for the entire duration of your studies, there should be a clear indication as to how you will finance the remaining tuition and living expenses. Most applicants do not have the full amount to show at once. However, showing the exact amount of your first-year tuition and living expenses without any clear indications about how you pay for the remaining duration of your studies may leave the visa officer with questions and uncertainties which will result in your student visa being denied.
Finally, before considering to apply for a student visa, it is paramount that you have sufficient funds available to pay for your studies and living expenses.
Sponsorship
Most applicants who apply for a student visa seek financial assistance from family members and /or close relatives to offset their educational expenses. A sponsor can be anyone; however, it is best when your sponsor is an immediate family member such as your parents, spouse, or siblings. If you plan to use a sponsor to aid your educational expenses, they must have more money in their bank account than what is required for your educational expenses.
Realistically, if the money in your sponsor’s bank account is the exact amount that you need for your educational expenses, the visa officer may wonder why this person would give you their entire life saving to study in the United States. When your sponsor gives you all the money in their bank account to study in the United States, what will they do if an emergency situation arises and they need cash? Therefore, it will be more believable if your sponsor’s bank account reflects more than the required amount for your tuition and living expenses.
Likewise, it is best when your sponsor is your parent/s, spouse or a close relative. The reason for this is the visa officer may wonder why someone who is not a close relative would give you their life savings to study in The United States. Additionally, you must provide documentation to show your relation to your sponsor. For instance, if your mom is sponsoring you, you will need to submit your birth certificate so that the visa officer can see that your sponsor is your mom. In the event the relationship with your sponsor is not clearly established, the visa officer may ask himself, is it believable that this person who is a family member, friend or employer would give all this money to you to study in The United States?
When you are ready to attend an interview at the Embassy, your sponsor must give you a bank statement showing the amount of money they are sponsoring towards your educational expenses. If your sponsor cannot provide you with a bank statement with the required amount of money that they are paying towards your tuition or living expenses, it is unwise and often futile to apply for a study permit as it will be overlooked. Why would the visa officer grant you a student visa when it is not clear as to how you will be paying for the tuition and living expenses? Many applicants state that someone is sponsoring them, but fail to produce a bank statement.
When someone is sponsoring you, the visa officer will thoroughly review your application, because they want to make sure that funds will be available for the duration of your studies. Advisably, though someone will be sponsoring you, it is best to have savings available in your bank account, especially if you are traveling with your entire family. Please don’t rely on your sponsor for the entirety of your educational expenses. At least try to have some finances of your own, especially if your sponsor is not an immediate relative or extended family member.
The sponsor will need to provide a photocopy of the following documents:
- Bank statement/ 4-month transactional history.
- Passport (front page)
- Sponsorship letter
- A job letter, if employed
- Pay slips for the past four (4) months (optional)
- Business registration, if the sponsor has a registered business