Bank Statement
When students apply for a new F-1 visa, transfer schools, change academic levels, or change to an F-1 status, they need to prove through a bank statement that they have enough money to afford the 1st year of studies for their program. On students’ I-20s, International Student Services reports a standard figure that we have calculated based on the average student’s stay. These numbers are based on tuition and fees, estimated living expenses, and other costs (books, medical insurance, and personal costs). The number that is reported on the I-20 is not reflective of the actual costs. Some students study in the summer, some are more frugal, others may live off campus, etc.
Bank Statement Amounts
Our Costs of Studying page shows estimates and explanations of program costs, it also notes the amount needed on your bank statement. Each program has different tuition amounts. We have calculated the amount needed to study full time in each individual program that Northwest offers. Students who plan on having F-2 dependents will need to demonstrate an additional $5,000 USD per dependent on their bank statement.
Required Information
A Bank Statement must include the following: Account holders name and final deposit amount on a bank’s letterhead with a signature. We do not need a list of transactions. Your Bank statement does not need to be in USD. The bank statement must be within 6 months of your application submission date. Immigration officials will look at this bank statement during your visa interview. What does a good bank statement look like? You can find an example of what a good bank statement looks like here.
What if I do not have the funds needed to study at Northwest?
Many students cannot afford to study on their own funds. A bank statement from a family member or sponsor is perfectly normal. However, if the bank statement is not from an immediately family member, then that sponsor will also need to complete an affidavit of support in addition to the bank statement.
Undergraduate students may be eligible for academic, talent or Athletic scholarships. Graduate and Doctoral students should check with their program to see if there are scholarships available to them.