Leave your details below for enquiry.
Financial Documents Required for Study Abroad Applications
Studying Abroad is a dream that requires extensive planning, various steps of application and a long meticulous documentation. Starting from collecting the transcripts, the scorecards to writing and submitting admission essays/ statement of purpose/ Letter of Recommendation to the long application forms. The process does not stop there and with admissions begin a completely different set of paperwork – for student visas. An important component of the same are the financial documents. And while the specifics might change from country to country and university to university, every document essentially follows a format. This is a guide of the many documents students would require, samples of formats for financial documents specific to study abroad and basic good to know facts.
Proof of Funds or Financial Capacity: Meaning
One of the basics of Student Visa Applications is the requirement of Proof of Funds or Financial Capacity. For almost all countries (barring very few), students are required to provide evidentiary proof that they are able to not only pay for the fee but also normal living expenses for the duration of the stay.
1. Fees and other University charges
Students are often required to make payment of this component in advance to confirm admission offer. Since the payments are made up front, the proof of this component comprises of receipt of payments made.
2. Living Expenses
Most of the countries have a basic minimum living expense requirement, which is specified. The students are in turn requested to provide proof that they have access to the same. Here is a list of some of the countries and the minimum fund requirements (living expenses) specified.
Banks have their own formats and you need not worry about the same. Simple mention of the same to the lending institution would suffice. At times, CAs can prepare the same as well.